Bitcoin Reserves are Lessening as It Reaches 46k – Crypto Academy

I’m thinking why is this happening?

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  1. Halvenings have a drastic impact on miners, fully cutting new supply in half every four years. But they usually seem like non-events when they happen because the price doesn’t seem to react at first. It only gradually goes up, starting a new bull market. This is because there are a lot of coins still on the market that are undervalued because they were obtained during the previous cycle.

    But don’t be fooled. Halvenings are slow-acting tsunamis.

    Over the next year or so, miners, exchanges, and weak hands slowly sell their stored coins on the way up. This transfer of coins from exchanges to hodlers is what you are seeing right now.

    Once they run out of coins to sell, that’s when the market **really** starts to feel the effects of the Halvening. The price then spends a few years bouncing above and below the true value before eventually settling on it.

    And then the next Halvening hits…

What do you think?

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