Are Bitcoin Miners Causing The Latest Price Plunge?

Blame is thrown around as Bitcoin starts to fall and the selloff intensifies. The crypto community wants to put the guilt on something and the mainstream media wants to gain their publicity so it sensationalizes the situation.
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The questions remain to be answered today in our bitcoin news, are bitcoin miners responsible for the price drop?

The guilt for the latest fall was put on China (again) and a miner capitulation, but new research discovers that the miner capitulation is not guilty of the fall. With an almost 14% recovery, Bitcoin had a little revitalization. That would have been good news if Bitcoin didn’t fall more than 20% in November of 2019.

Undoubtedly we are now and the past five months in a bear market. The ‘miner capitulation’ speaks of closing down by smaller mines when the price of Bitcoin is not high enough to cover their expenses. In late 2018 during the crypto winter when the BTC price falls down below $3,200, this was the practice.

The FUD around miner capitulating and hash rate plummeting, is contested by Paradigma Capital in its recent research. The first and opening part of the report has the declaration that a predominant presumption is that miners have somehow disproportionate stronghold on the prices of BTC.

Utilizing economic theory around the supply of nonrenewable resources it is logically that the presumption that miners will sell reserves when they think prices will fall, and hold when they believe the opposite is made.

The keys to the fresh supply of Bitcoin is held by the miners, which obviously is determined irrespective of how many miners are actively on the market. The supply of new coins in the market is controlled by a collective ‘hive mind’. The miner’s share of on-chain volume can be used to see the diminishing impact over time and the relevance of the mining output negotiation for the on-chain volume.

Today, unlike at the beginning of Bitcoin, virtually the mining rewards are spent from the first day receiving address which in turn reduces the MSV over time. In the past, BTC was possible to be mined in a garage with a relatively decent spec gaming computer. Today everything is done by mining pools and they are growing in numbers. Are miners responsible still? Tell us what you think.