Report Indicates Halving Event May Cause Bitcoin Price Drop
In a recent “State of the Network” report from crypto asset analytics company Coin Metrics, data scientist Kevin Lu and other members of the Coin Metrics team explained their view that Bitcoin sell pressure is likely to grow in the coming months before eventually returning to a healthier state and paving the way for future price increases.
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The report from Coin Metrics echoes another report from Blockware Solutions. Recently, Blockware Solutions CEO Matt D’Souza referred to the situation around the halving as a “perfect storm” for Bitcoin.
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A ‘Perfect Storm’ Is Brewing For The Bitcoin Price
Recently, Blockware Solutions CEO Matt D’Souza discussed the implications of the upcoming halving on an episode of The Stephan Livera Podcast. Blockware Solutions recently put out a full report on how the Bitcoin price is greatly affected by the level of efficiency achieved by miners on the network. The report also covers this mining-related phenomenon in the context of the halving.
“It’s kind of like this perfect storm for Bitcoin,” D’Souza told Livera during their chat.
Miner Capitulation is Good For the Bitcoin Price
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