von • Bitcoin miners and „smart money“ investors are the key players to watch out for when it comes to late 2023 BTC price action, according to Filbfilb.
• Bitcoin is likely to remain rangebound until at least Q4 of 2023, according to Filbfilb.
• Miners and smart money investors will be incentivized to send prices higher before the halving in early November.
What Analysts Are Saying About Bitcoin’s Price Action After The Halving
Bitcoin analysts have been closely watching the cryptocurrency market after the halving that occurred in May 2020. According to one prominent analyst, Filbfilb, Bitcoin is likely to stay rangebound until at least Q4 of 2023. He believes that miners and smart money investors will be incentivized to send prices higher before the halving in early November.
The Role Of Miners In Driving Up Prices Before The Halving
Filbfilb has stated that miners play an important role in driving up prices before the halving. He explained that miners are incentivized to ensure that prices are well above marginal cost prior to the halving, as their revenue will effectively be cut in half after the event occurs. To maximize profits, miners should thus begin bidding up prices around 1,276 days after each prior halving – which would place this behavior around early November for this year’s cycle.
The Role Of Smart Money Investors In Driving Up Prices
In addition to miners, Filbfilb has also highlighted the role of smart money investors in driving up prices before the halving occurs. He noted that these savvy investors may take advantage of rumors surrounding potential positive impacts on BTC price caused by the upcoming event and buy into Bitcoin accordingly. This activity could create additional upward pressure on its price leading into late 2023.
What Could Happen Post-Halving?
Once we reach late 2023 post-halvening, analysts believe that BTC price might enter a period of consolidation once again – similar behaviour was observed following both previous halvings as well as during other periods throughout Bitcoin’s history where miner incentive shifted or dropped off significantly due to market conditions or competition from other blockchains/coins/tokens etc..
Conclusion
Overall, it appears bitcoin could experience some increased volatility leading into late 2023 due both mining incentives and activity from smart money investors buying into potential positive impacts from pre-halvening rumors. Once we reach post-halvening however it appears bitcoin may yet again shift into a more stable period of consolidation – though time will tell if this pattern holds true once more or not!
