It will soon be unprofitable for many miners to produce more BTC and this has been a great signal in the past. I'm watching this pretty closely for a crossover.
Comment:
I'm somewhat wondering if the whales are aware that the miners would dump after the halving so the whales are dumping it now so they can accumulate a position below anything the miners can dump to.
This doesn't really affect the overall 4 year cycle I don't think, it just makes it so this spring summer and fall will be more flat and choppy than if it there had been a nice prehalving parabolic move. This scenario reminds me of the Paul Tudor Jones market wizard interview where he says the market is ultimately going to do what the market will do.
This move lower is actually reducing the ATR on the month chart so a little less volatility might actually be a good thing for BTC in the long run.
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This doesn't really affect the overall 4 year cycle I don't think, it just makes it so this spring summer and fall will be more flat and choppy than if it there had been a nice prehalving parabolic move. This scenario reminds me of the Paul Tudor Jones market wizard interview where he says the market is ultimately going to do what the market will do.
This move lower is actually reducing the ATR on the month chart so a little less volatility might actually be a good thing for BTC in the long run.