Every day currently there are 1800 new Bitcoins created. At a price of $8,000 that’s $14.4M USD worth of Bitcoin created. That’s a lot. As I hope you know, these go to miners, of which there are more and more each week. As you may also know, a % of these Bitcoins are sold by miners each day in order to pay for costs like electricity, rent, wages, etc. And some are sold just so miners can lock in a profit. They’re often a pragmatic bunch, not crypto speculators. Either way, that’s $14.4 million worth of coin that need to find a new home each day, either through miners hodling, or miners selling on the various exchanges. The growing number of miners and the unavoidable increase in difficulty in mining is having the effect that a higher percentage of the bitcoin they mine needs to be sold to cover their costs (source, I mine). Now think about this for a second. When the price of Bitcoin falls, the effect is that MORE bitcoin has to be sent to market by the miners to cover their expen