🚨Bitcoin Miners Are Capitulating, But There's Silver Lining.

✅ Miner capitulation typically indicates bottoming conditions, according to CryptoQuant's Ki Young Ju

🔺 Ki Young Ju, founder and CEO of cryptocurrency analytics firm CryptoQuant, has stated that Bitcoin miner capitulation is still not over.

✅He pointed to historical data which shows that such capitulation phases typically end when the daily average mined value is 40% of the yearly average. However, it currently stands at 72%.

✅The term "miner capitulation" refers to a period when cryptocurrency miners are struggling to make ends meet due to declining profitability. Miners are forced to liquidate their Bitcoin reserves due to declining prices and fees. Even though pundits pay a lot of attention to Mt. Gox's repayments and the German government's selling spree, the predicament of miners is also one of the key bearish factors.

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