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Bitcoin Halving Could Prompt Miners to Force-Sell, Analyst Fears

▪ The upcoming bitcoin halving event could prompt a new wave of panic-selling by miners, says a pseudonymous analyst.
 ▪ Some traders may manipulate bitcoin to bootstrap a bullish narrative.
 ▪ Popular bullish models are flawed.

Bitcoin Halving has become an eye-candy for a majority of bulls in the cryptocurrency market.
The event will make bitcoin scarcer by algorithmically slashing its daily production rate from 1,800 BTC to 900 BTC. People believe a lesser supply would inflate bitcoin’s prices in the long run, with a famous model even predicting that it would reach $100,000 by 2021.

But an analyst operating under the pseudonym ‘Alex’ believes bulls are making blusterous price predictions about bitcoin, arguing that the cryptocurrency could continue plunging further into the year as inefficient miners force-sell their holdings.