Quote from: bob123 on Today at 04:41:27 PM

Quote from: eskider on Today at 07:31:12 AM

From the historical data, bitcoin prices and bitcoin supplied by miners to the exchange show a negative correlation. In other words, the less bitcoin miners transfer to the exchange, the greater the probability that the currency price will bottom out.

Correlation is not causation.
That's not an assumption you can make based on your data.

This just means there is a connection between these two events. But one does not cause the other.

True, another important factor to consider right now is the pandemic itself, will the pandemic translate in a net gain or net loss to the cryptocurrency sector? Is actually a bit hard to tell. I've actually been seeing more and more that the current pandemic has brought changes in regulations for crypto, not all positive, but also not all negative, so it's really hard to gauge the many factors at play.

This article talks a bit more about the regulations that have changed thanks to covid, in case you're interested: https://dailyhodl.com/2020/04/25/bitcoin-as-a-legal-financial-instrument-and-tender-how-covid-19-is-changing-crypto-regulations-worldwide/

Either way, only time will tell for sure. We can only speculate for the time being.