10x Research: BTC may consolidate for 6 months, miners will sell $5 billion worth of BTC

ChainCatcher news, 10x Research published that as Bitcoin mining companies prepare to sell off most of their Bitcoin inventory, the cryptocurrency market may face significant challenges during the six-month summer lull. These inventories have been carefully built up over the past few months and could disrupt market dynamics.

It is reported that a typical scenario before the halving (April 20) is for miners to hoard BTC, leading to an imbalance in supply and demand, followed by a rise in Bitcoin prices. Altcoins, in particular, may be the first to be affected by this situation. Bitcoin tends to rise by 32% during the halving period. However, according to their calculations, miners may liquidate $5 billion worth of BTC after the halving. The suspense of this sell-off could last for four to six months, which explains why Bitcoin may consolidate in the coming months—just like in previous post-halving situations.