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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.

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