Miner's Strike!

[bitgolden]

Well, there is a dilemma with the miners and that is why the price is not moving that much. On one side they want to sell their coins that they mine because they would want to cover the cost of the operation, they are not doing this for free and that is one of the reasons why they want to sell, sure profiting and pocketing those profits and living in yachts etc would be cool, but before everything else they need to pay for the costs of the operation as well.

However on the other side they would want to make more profit right? I mean they would want to not sell and wait for the price to go up and when it goes up sell it all so they would make 2x or 3x profit right? Well that is why they don't know what they should do, they don't know if they should sell or wait and waiting could be very dangerous with all that cost.

[Quidat]

I don't have proof. I am just speculating here. 
What do you think?

We can all speculate but basing on of the things that you had mentioned on where comparing the current movement to those times that we are hovering from 3k price then i would say that i wont prefer to see those digits once again and of course we can really see increases yet its value isnt really that much high if we do compare on moving from 9k price to 13-15k onwards.That would require much time and recognition again
by the community.In talks of Miners profitability then we do know and its quite obvious that it isnt already feasible for them to do so basing of into the rewards which had been recently cut into half but on the current
network condition that there were still who stick out into this business.

[Lucius]

It's about the strength of the miners to change the wave.
I know back then, they could buy more bitcoins while still mining to enhance their profit before they sell in full blast.
Manipulation for their electric bills and some profit which I don't think as a bad thing since they are in business.

As I wrote in a previous post, crypto miners lose more and more influence with each new halving because they logically have fewer and fewer rewards for their work. It is not the same to have 50 BTC and 6.25 BTC per block, which ultimately means a total smaller amount of freshly mined BTC that can affect the market. Although it is a common opinion that miners sell their BTC through OTC, because that way they do not cause a price drop, and also fresh mined coins can be sold at a premium price.

The influence of the miners (some of them) was most pronounced when some of them tried together with traitors like Roger Ver and CW Faketoshi to impose their forked BTC as the original, but of course it hit them hard on the head.

As for veteran traders, trust me they don’t see anything abnormal in price movements, and they make a profit (smaller or larger) no matter what happens in the market. Moving up or down by just a few hundred dollars doesn’t mean much to the average trader, but for those who have larger amounts of BTC it means quite a solid profit.

[Reid]

It's about the strength of the miners to change the wave.
I know back then, they could buy more bitcoins while still mining to enhance their profit before they sell in full blast.
Manipulation for their electric bills and some profit which I don't think as a bad thing since they are in business.

As I wrote in a previous post, crypto miners lose more and more influence with each new halving because they logically have fewer and fewer rewards for their work. It is not the same to have 50 BTC and 6.25 BTC per block, which ultimately means a total smaller amount of freshly mined BTC that can affect the market. Although it is a common opinion that miners sell their BTC through OTC, because that way they do not cause a price drop, and also fresh mined coins can be sold at a premium price.

The influence of the miners (some of them) was most pronounced when some of them tried together with traitors like Roger Ver and CW Faketoshi to impose their forked BTC as the original, but of course it hit them hard on the head.

As for veteran traders, trust me they don’t see anything abnormal in price movements, and they make a profit (smaller or larger) no matter what happens in the market. Moving up or down by just a few hundred dollars doesn’t mean much to the average trader, but for those who have larger amounts of BTC it means quite a solid profit.

Thank you.
I understand it more.

I think I just got used to looking at the wild movements for a year.
Just being intrigued by the calmness of the fluctuations now.  

[davis196]

Trying to explain the 10K USD to 9,2K USD price drop only with the miners selling their coins is a big oversimplification.
The BTC halving hype was gone so many traders decided to sell their coins and cash out their profits.
The constant negative news regarding the future of the global economy and the recession also have an effect in creating more selling pressure over the crypto traders.
The miners have less revenue,due to the halving,but the electricity costs in many countries(like mine) went down,due to the recession,so the mining costs went down as well.Based on that,I don't think that the miners will have any problems,that will force them to mass sell their BTC reserves.

[eaLiTy]

After the halving, May 2020 we didn't see much movement on the bitcoin price.
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price. 
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
It had been 2 months post halving.

As you mentioned it is nothing special with the price and we usually do not see any rally post halving and we usually see the rally after a few months to start the momentum for the rally and this time around there are other factors like the pandemic and economic crisis that is looming.

Are the miners on strike to sell their coins?
Is this ($9200+) price of bitcoin not enough to secure all the bills that needs to be paid and some profit?
Are they keeping rewards pre-halving waiting for demand to take effect?
They cannot buy more bitcoin to increase the price due to pandemic? (Saving it for self necessities)

The miners will be selling the coins just to take care of their bills and there is no way that the miners will be purchasing the coins as all the major miners are holding a substantial amount of coins waiting for the rally and once the rally starts expect them to sell the coins.

[beerlover]

^That is the trouble with waiting for miners to do something but also being hyped about the halving. With halving we are requesting the nature of bitcoin to give less power to miners, we are happy that there are less bitcoins mined per day, and 900 bitcoins less per day as well, so we are happy that miners do not make as much bitcoin as they used to do. However we end up waiting for them to stop selling, or even buying so that the price would go up as well.

We have to decide, do we want miners to have power so that they could change the price higher, or do we just not want them to have any power at all? If we are happy about the halving and the fact that they are mining less bitcoins now, that means we should hoping that they would do something that would benefit us as well.

[stompix]

~

I don't. I am just intrigued with how it is happening now. It's just way different with what it used to be.
I am not a fan of the jumping price like the 20k mark.

Your own words, not mine

It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.

Since the price currently is at around ~ 9500 and as far as I can understand few means at least 3, a jump of a few thousand that was supposed to happen would bring us to at let the ~12500 mark, thus my approximation for the 15k level.

As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it.

That OTC market is not something magical where you can go and sell at any hour of the day any amount, if there is no demand the miner has nowhere to sell. If the OTC deals were taking care of twice the volume in the past it either means that OTC dealers now get their supply for other sources which of course should have been seen in the price or, simply there is no demand at all and the whole thing about miners dealing mostly OTC was another myth.

[tbterryboy]

That OTC market is not something magical where you can go and sell at any hour of the day any amount, if there is no demand the miner has nowhere to sell. If the OTC deals were taking care of twice the volume in the past it either means that OTC dealers now get their supply for other sources which of course should have been seen in the price or, simply there is no demand at all and the whole thing about miners dealing mostly OTC was another myth.

There are two possibilities:
Miners still able to sell only through OTC or miners prefer to hold with the plan of selling my Christmas times.
Because, we are not having prices drastically falling if there is no enough demand in OTC markets and miners move into spot markets.

Yes before halving, miners might have been selling twice the amount of BTC than what they may do right now which makes us to assume that no selling pressure is being created by miners but obviously bitcoin market is lagging with new investors after pandemic. Fortunately bitcoin prices are stable which means new block rewards are somehow within the range of pandemic-hit demand levels. So, if there will be a recovery in our normal life which will impact on investors level as well so we can expect BTC prices to skyrocket because we are having lesser supply than what we had in last 4 years.

[Yaunfitda]

That OTC market is not something magical where you can go and sell at any hour of the day any amount, if there is no demand the miner has nowhere to sell. If the OTC deals were taking care of twice the volume in the past it either means that OTC dealers now get their supply for other sources which of course should have been seen in the price or, simply there is no demand at all and the whole thing about miners dealing mostly OTC was another myth.

There are two possibilities:
Miners still able to sell only through OTC or miners prefer to hold with the plan of selling my Christmas times.
Because, we are not having prices drastically falling if there is no enough demand in OTC markets and miners move into spot markets.

That's one possibility that they are going the OTC route, but the thing is that it won't affect the price drastically and we might not even know it.

Yes before halving, miners might have been selling twice the amount of BTC than what they may do right now which makes us to assume that no selling pressure is being created by miners but obviously bitcoin market is lagging with new investors after pandemic. Fortunately bitcoin prices are stable which means new block rewards are somehow within the range of pandemic-hit demand levels. So, if there will be a recovery in our normal life which will impact on investors level as well so we can expect BTC prices to skyrocket because we are having lesser supply than what we had in last 4 years.

We can only assume as we are still in the pandemic. Its good to see the that price is relatively stable, maybe the demand is not that high today. But it will soon evolve as well, and we are hitting record high as far as hashrate is concern, so there's no miners strike at all.

[jrrsparkles]

After the halving, May 2020 we didn't see much movement on the bitcoin price.
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price. 
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
It had been 2 months post halving.

Are the miners on strike to sell their coins?
Is this ($9200+) price of bitcoin not enough to secure all the bills that needs to be paid and some profit?
Are they keeping rewards pre-halving waiting for demand to take effect?
They cannot buy more bitcoin to increase the price due to pandemic? (Saving it for self necessities)

I don't have proof. I am just speculating here. 
What do you think?

Individual miners even have less chance to earn anything from mining bitcoins before the halving due to mining difficulty spike and now they might stopped mining and waiting for the prices to increase, where as miner farms are going to run anyway because they have chances to make profits due to low expenses and also they have enough capital to cover the maintenance fees for long time.