Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Analyst believes Bitcoin miners could sell $5 billion of Bitcoin after halving

Mining: Analyst believes Bitcoin miners could sell $5 billion of Bitcoin after halving

According to 10x Research analyst Marcus Thielen, bitcoin miners could sell $5 billion worth of bitcoin after the halving.

Thielen warns that the cryptocurrency market will face serious problems during the expected six-month "summer lull" as miners prepare to sell a significant portion of their assets. Liquidation of accumulated assets could upset the market equilibrium, potentially leading to a prolonged period of sideways movement of #bitcoin, similar to historical trends after halving, Thielen explained.

In addition, Thielen noted the possible implications of such a scenario for #altcoins. He suggested a six-month gap between halving events and potential altcoin rallies, emphasizing the correlation that could affect market dynamics as a whole.

Thielen also highlighted #Marathon Digital, a mining company that has accumulated reserves that are expected to be gradually sold off after the halving to mitigate revenue fluctuations and avoid a sudden drop in revenue.

Looking ahead, we note that the next bitcoin halving is projected to occur around April 19-20, 2024 at a block height of 840,000, which will reduce mainers' remuneration to 3,125 BTC. According to previous expert estimates, the potential losses to #miners after the halving could be as much as $10 billion.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Make crypto bots for trading
Press Releases: Happening Right Now - Marginly is Bootstrapping Liquidity
Marginly, the leverage-as-a-service protocol that enables one-click leverage on yield-bearing assets, kicked off its Liquidity Bootstrap Event on May 15. The protocol is rewarding..
Altcoins: The founder of Telegram commented on the launch of the Notcoin token
Pavel Durov, the creator of the Telegram messaging platform, shared his thoughts on the introduction of the Notcoin (NOT) cryptocurrency. He emphasized that the initiative has attracted more..
Regulation: The French regulator announced a possible blocking of the Bybit platform
The French financial markets regulator (AMF) has issued a warning to investors about the possible restriction of access to the Bybit platform's website. It also noted that..
Altcoins: Trader made $46 million out of $3000 on PEPE memcoin
An unknown trader earned an amount exceeding 46 million dollars by buying the Pepe Coin memcoin (PEPE). This financial triumph was reported by analyst firm Lookonchain.