Filecoin Miner RRMine Global Leaves China for Singapore
China banned crypto trading and mining last year.
![image Coindesk](https://image.coinlive.com/24x24/cryptotwits-static/8fa45d5ea084a3dc4d04f3df57de4aa1.jpeg)
China banned crypto trading and mining last year.
This week, ahead of the Federal Reserve's Jackson Hole meeting, miners are a ray of hope in bitcoin's dour outlook.
Other Bitcoin miners such as Core Scientific, Argo Blockchain and Riot Blockchain have reduced their BTC holdings during the bear market.
It may be as soon as August that miners start returning, and difficulty is already planning an uptick.
Multiple indicators and on-chain metrics reflect confluence pointing to an improving market, but technical analysis still raises the possibility of Bitcoin dropping to new yearly lows.
While many indicators suggest that the market bottom may be close, time will be the ultimate determinant, according to a new report from Glassnode.
Bitcoin bottom. Are we there yet? Several higher time frame indicators point to an actual bottom for BTC around $10,000.
Bitcoin. The bottom. Are we there yet? Several higher timeframe metrics suggest BTC’s real bottom will be somewhere around $10,000.
Investigative work argues that on-chain metrics are proving miners have capitulated, while whales appear to be lone Bitcoin dip-buyers.
Amid distribution by the "giant" whales of Bitcoin, data shows that smaller ones are still resisting the urge to sell.