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Bitcoin Price Decline on Germany, Mt. Gox and Miner Sell Pressure May Be Overblown: NYDIG

Cipolaro advised against relying on blockchain data about miners moving assets without knowing the nature of those transactions. “Identifying that bitcoins move to an exchange or OTC desk, even if done correctly, only tells us that coins moved. That’s it,” he argued. “They could’ve been posted as collateral or lent out, not necessarily sold.”

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