Bitcoin Selling Pressure

Most of the selling pressure since mid-Jan has come from F2Pool (largest Chinese mining pool) affiliated wallets and it is now becoming clear why. The Inner Mongolia region of China is banning bitcoin mining. This region is responsible for 9% of the world's BTC mining. It's a coal powered region however, which is the problem. Beijing has come down on them for not meeting carbon neutrality targets. They have until end of April to shut down, but it would appear they first got notice of this back in mid-January based on the BTC selling history. Most will likely either move to the surplus hydro power regions of China or they will sell their rigs and shut down. Apparently some will even be moving overseas. Many of these miners secured loans using their mining rigs as collateral, either to pay their bills so they didn't have to sell coin while the price was rising, or to buy more rigs or bitcoin...but either way many are forced to sell some or all of their bitcoin to pay back loans or pay for their move.The big question is, when will this selling stop? End of April seems like the logical answer but I suspect it will taper off well before then. Anyone moving, would have started the process by now I suspect.One thing I've noticed of late is that the only time BTC price goes down is when there is selling pressure from F2Pool and whenever they are not selling the price surges higher. So the big takeaway is that when they stop selling, we should see a moon shot.https://bit.ly/3sPA382 via /r/Bitcoin https://bit.ly/3qknIXU