mining continues to show signs of volatility. With increasing costs to mine and unpredictable revenues, will the interest in mining continue to grow or will miners move on to greener proof-of-work pastures?One of the reasons behind the growing FUD among Bitcoin miners is the fluctuation in revenue being generated by miners. In fact, the same has been consistently volatile over the last few months.
A lot of uncertainty around the revenue being generated, coupled with a growing hashtrate, could increase selling pressure on miners.Another indicator of growing selling pressure would be the decline in miners’ reserves. As can be seen from chart, Miners’ Reserves for Bitcoin have declined significantly over the last 3 months. This metric highlights the reserves that Bitcoin miners have not yet sold. When miners start selling, it could lead to price drop.
I didn't beg for Bitcoin to hit $20K when it was $3200 as i never invested during that time. But, yeah $70K per $BTC would be a life changing experience. However I recommend you all follow x87_HL she’s a super underrated bitcoiner, smart tips, I’ve been doing great.