Cango dey mine 126.4 BTC, reserves don pass 6,500 BTC
Cango wey dey list for NYSE as bitcoin miner talk say dem mine 126.4 BTC last week and say their BTC dem don reach record 6,520.6 coins. The miner BTC holding don rise from 6,004.64 BTC for October 11, showing say dem dey accumulate quick quick. The company confirm say dem never sell any bitcoin, e still show say dem steady for long term accumulation plan for market wey sabi dey waka anyhow. As Cango dey gather more BTC reserve, e fit make supply small and show say institutional miners dey demand more for bitcoin mining sector. Traders suppose consider this trend as one kind bullish sign for bitcoin price. The move mean say dem trust say market go grow well well for long term and e fit affect how traders go play market for near future.
Bullish
Cango dey still dey gather bitcoin, e dey reduce how much dey available and e show say di mining sector get strong demand from big institutions. For short term, when supply tight, e fit push price up as traders go reduce selling. For long term, di miners confidence wey dem get to hold instead sell dey show say dem get better hope for market growth. Normally, when miners dey keep plenty bitcoin, e dey relate to price wey dey go up. All these things join together mean say dis matter good for BTC price.