https://medium.com/@bitcoinspark/bitcoin-spark-gold-seal-bonus-event-sept-16th-at-1-pm-utc-c9283b07581b
Thursday, September 28, 2023
Why do people assume BTC will rise after next halving?
I see people making this assumption which makes little sense to me. Consider the alternative- No significant new buying behaviour emerges after halving. Miners cost would have risen (more electricity to be consumed to solve the hash) even to sustain normal business as usual. Some miners will eventually go out of business. Settlement times will increase due to lower hash power available on the bitcoin network. At that point - If due to some bad macro or Gary gensler f*ck up or other random event people start selling, Network will get congested further increasing settlement times leading to more panic selling and an ultimate death spiral. Why is this not a highly plausible scenario that can happen only in a matter of days if not hours? What am I missing?
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