Bitcoin Miners Could sell $5bn of BTC post halving – Altcoin Graveyard ?

Bitcoin Miners Could sell $5bn of BTC post halving – Altcoin Graveyard?

👇1-18) The crypto market could face a significant challenge in a six-month ‘summer’ lull as Bitcoin miners prepare to sell off substantial portions of their BTC inventories. These inventories, painstakingly built over the past few months, could disrupt the market dynamics.

👇2-18) This is a typical scenario ahead of the halving (April 20), where miners stock up on BTC, leading to a supply/demand imbalance and a subsequent rally in Bitcoin prices. Altcoins, in particular, could bear the brunt of this situation.

👇3-18) As we wrote two months ago, Bitcoin tends to rally +32% into the halvings. However, based on our calculations, miners will potentially liquidate $5bn worth of BTC after the halving. The overhang from this selling could last four to six months, explaining why Bitcoin might go sideways for the next few months—as it has done following past halvings.

Subscribe to Premium Membership to read the rest.