• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin Miners Net Position Turns Positive: Is A Rally to New Highs Overdue?

San Lee by San Lee
1 year ago
in Bitcoin, Bitcoin Price, News
0
Advertisement

After weeks of gut-wrenching volatility, the start of April has been much kinder to Bitcoin. Following a record-breaking $6.4b options expiry, Bitcoin’s price action has been far less volatile in the past few days. According to the Bitcoin Volatility Index, its 30-day volatility has dropped from a high of 5.34% on March 9 to 3.42% at time of press. 

The major cryptocurrency’s price level is consolidating just under the asset’s all-time high of $61,800 — a welcome sign after its prices plummeted to $51,000 just a week prior. As Ethereum rallied to a new all-time high of $2144, many investors have wondered whether Bitcoin would also push higher past its previous high. According to one particular on-chain metric, it may be due for a substantial move up. 

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Analyzing Bitcoin Miner Net Position Change 

Ever since Bitcoin miner net position change turned positive this past Tuesday, miners have continued to accumulate the digital token. The miner net position change represents the transactional flow of mining pools; when the metric is positive, the total number of Bitcoins being sold by miners is less than the amount being held. 

This is a bullish indicator, as the renewed accumulation suggests that miners are willing to speculate that the price of Bitcoin will increase in the near future. On April 1st, the net position change peaked at an aggregate 4514 coins a day and has continued to hold up. The last time miners were accumulating at such levels was back in December 2020 — which was when the major cryptocurrency doubled its value from $20,000 to $40,000.  

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Will We See a Rally to $100,000 This Year? 

As Bitcoin’s institutional demand and narrative as “digital gold” continues to grow, the stablecoin is primed to soar to new highs. JP Morgan recently updated its long-term outlook on the digital asset’s price expectations to $130,000, citing a growing number of institutional investors and decreasing volatility. Moreover, gold has continued to severely underperform Bitcoin. This has led to the precious metal suffering $20 billion in capital outflows in the past 2 quarters. In the same time period, Bitcoin investments increased by $7 billion.

All things considered, it seems only a matter of time before Bitcoin surges far past its current high. 

Featured image from UnSplash 
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
San Lee

San Lee

Related Posts

short bitcoin

Inverse Bitcoin ETF Sees 300% Increase In Short Interest

29 mins ago
Bitcoin

Bitcoin Bear Market Sends On-Chain Metrics Into Sideways Trend

4 hours ago
bitcoin addresses

Decline In Bitcoin Active Addresses Suggests Market Is Purging Paperhands

6 hours ago
Crypto

Crypto Lender Voyager Digital Goes Bankrupt After Three Arrows Collapse

9 hours ago
South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON

South African Firm Raises $150 Million To Introduce Crypto Water Tokens Dubbed H2ON

15 hours ago
Jordan Belfort

Jordan Belfort, The ‘Wolf Of Wall Street,’ Advises: Buy Bitcoin Today And Make Money

16 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.