That seems to be based on the 4-year winter cycle or halving cycle. We are already nearing the same cycle closing and which means heavy drop in price of the bitcoin because most of big whale miners around the world will be profiting from the same. If they sell at the current price then definitely it's gonna be worst for them, idk they may loose profitability in the process.

However, I believe that this is just one of the reason for the same but may not be firm one.

There is impossible judgment for the current situation of bitcoin.