Bitcoin miners are selling their coins at a record pace after the top cryptocurrency by market cap fell to its lowest price in 2022 this month.
“If price doesn’t go up soon, we are going to see a lot of Bitcoin miners out of business,” said Edwards.
“What we are seeing is not sustainable,” continued Edwards. “Mine-and-hodl is not a viable strategy as a Bitcoin miner… you need to manage (trade) your Bitcoin position constantly in this market.”