Decreasing profit margins has caused bitcoin miners to sell their bitcoin holdings with Coinrule’s automated software being their biggest helper.

LONDON, UNITED KINGDOM, August 22, 2022 /EINPresswire.com/ -- During the months of May and June, miners sold substantial amounts of their bitcoin rewards and treasuries in exchange for less volatile cash. In aggregate miners sold more than they mined in May and almost 15,000 bitcoin in June.

They did this to strengthen their balance sheets in the face of a potential incoming crypto winter and to ensure they had enough cash on hand to pay for operational expenses and any future interest payments they may incur. As the price of bitcoin fell, miners sold more of their holdings - creating a feedback loop of miners selling more to accumulate more cash and continuing to drive the price of bitcoin down.

Coinrule (https://coinrule.com/crypto-trading-bots/), the automated crypto bot trading platform, has become several miners’ best friend, with the platform not only catered towards crypto day trading.

Coinrule allows its users to automate their trading by creating rules made up of different conditions. When these conditions are met, the bot will send a buy or sell signal to users’ exchanges resulting in trades being made. Bitcoin miners have been using Coinrule to sell their holdings without them having to press a button.

CEO and Co-founder of Coinrule, Gabriele Musella, states that over the past year Coinrule has seen a surge in miners signing up to their software to make use of their automated systems. “As the price of bitcoin has fallen over the past several months, we have noticed an increase in the number of miners using our platform to sell their holdings.

Several of them have discussed with us that they have tried other platforms but chose Coinrule due to our reliability, customer support and ease of use. Miners can simply automate the process of sending the bitcoin they mine to their exchange wallet. They then set up a rule on Coinrule to constantly sell all the bitcoin in their exchange wallet to the currency of their choice.”

Musella also states that the flexibility of Coinrule allows almost endless customisation for traders who want to build their own rules. “The customizability of Coinrule has always been one of our unique selling points. Our rule editor allows our users to create over 10,000 different combinations of rules and we often find that they are using Coinrule for use cases that we hadn’t initially considered.

We always think of Coinrule as Lego where you can create strategies and experiment with different systems using Coinrule as the bricks. In relation to miners, they can set up conditions that will only sell their holdings if price is above or below a certain level. They can also select certain indicators to sell based on specific conditions. A few of our users who mine, select conditions with the relative strength index and moving averages to ensure they are selling in areas where price has risen and not selling on the lows of the market - ultimately increasing their profitability.”

Musella states Coinrule often hosts feedback sessions with its users to gain a better understanding of what their users are wanting and what is missing from the automated bot space. “We carry out polls in our community Discord server several times a week where we ask our most dedicated users what they are wanting from the platform or where they believe we could improve.

We also have regular calls with our community ambassadors who also provide us with further insights on what the community is wanting. This helps us with prioritising our product roadmap and also allows our users to feel they are part of the design and implementation process.”

Coinrule’s lean and flexible approach to creating automated trading solutions puts them ahead of the crowd. As with any good platform or product, the number of use cases increase and the markets using it widen. Coinrule’s sandbox environment is the epitome of this by giving its users the tools to create whatever they can imagine. Today, Coinrule is an automated crypto bot trading platform. Tomorrow, this could be just a small component of the ever growing Coinrule ecosystem.

Gabriele Musella
Coinrule Ltd.
+44 20 3529 7920
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