Today we saw the price of BTC rise as the miners have been holding more BTC. I believe they like to sell near 10k, pay the bills and reinvest. They have enough inventory to push the price to 6800 but they aren't doing that right now. Currently they mine about 6000 new BTC a week. Over the last 12 weeks they have held almost 2% of the newly mined BTC despite the virus and mining upgrades. Something like 1.5 million BTC sit yet to have a first spend, I have no idea what the number has been in the past. I get a sense that they will gladly sell some someday and possibly soon, but I don't think they care about the leveraged prices so much as the excited fiat to BTC crowd seeing the price rise and buying in. The halving has not made news, people are barely buying because of hype. It looks like until the miners sell more in unison the price will keep climbing, tomorrow at least. I do not see any real climb in fees or transaction value and activity. Imagine a large mine that had deep pockets and never had to sell.....that would be quite a force. In 2 months time the excess BTC from the pre halving will be mostly gone I assume. I am just trying to make sense of all this, so bear with me. Lets look at some photos and then get back to it. 
Ok so we see that BTC is not really paying more money to the network. What is happening is that miners are selling less, creating less pressure for other miners to sell, so everyone can safely hold and sell higher. I see 3 choices. 1: higher fees 2: higher price 3: BTC shuts down. Jim Rodgers says it will shut down, well its possible but I just see that as unlikely. Mining revenue is flat, low for the times. Good thing people are buying some BTC because it helps. Also the fact that you can get interest from BTC is helping quite a whole lot. So to sum it up.... miners keeping price flat, buyers buying, not much selling and perhaps not tomorrow, so I would say to just expect a price climb and perhaps some selling after.
