Part 8/14:
They note that the miner revenue, impacted by block rewards halving in the previous years, plays a part in price dynamics. As miners need higher prices to cover costs, a rising price environment is often necessary for sustained upward movement.
Historical comparisons to cycles in 2013 and 2017 suggest that each peak is preceded by consolidation phases, and the current environment hints at an impending move higher—possibly exceeding $300,000 or even $400,000—if the market continues to attract new higher-capacity capital inflows.