I'm just wondering why everyone seems so bearish? We've been going in this sideways channel for what seems like two weeks. I think we need some doom news to go down; I just don't see it happening. I think best chance for a flash crash will be around 8/1 depending on what happens, if anything, with the chinese mining cartel. I recognize that no one believes a 2mb HF is still on the table, and they are probably right, but I think it's important to recognize the societal and cultural disrespect heaped upon the miners... Gonna get interesting I think... (DISCLAIMER: I am a biased 2mb big blocker who is skeptical about SW/LN and who thinks that any substantial change should be as a HF not SF).
I imagine through most of the upswing to the halving most miners held onto their coins with the hopes of a huge upsurge at halving. With no upsurge they started selling them to pay their electricity bills. Once they're out of saved bitcoins they're stuck with their 12.5 bitcoins per block. At that point the price should start rising just like what happened after the first halving. It was about 2 months later that the rise began. And other than Pirate causing some volatility with his ponzi scheme, the price was fairly stable for those 2 months.