From Joe Burnett (this is just accurate & brilliant):

“Do miners sell #bitcoin  to cover their expenses? Yes.

Does the halving cut mining revenue in half? Yes.

Do the weakest miners and ASICs turn off? Yes.

Does the marginal seller affect the price of bitcoin? Yes.

Does the halving then affect the price of bitcoin? Yes.

Is there not an immediate effect because a cut in the flow of new coins requires time, hence the definition of a flow being a quantity per unit of time? Yes.

If price begins to rise is there a delay before new miners come online due to the time required to build mining and energy infrastructure? Yes.

So the price can rise, but sell pressure can remain ~unchanged~ for 12-18 months post-halving? Yes.

This means the prices goes up, attracting a new wave of adoption, and few natural sellers exist for 12-18 months? Yes.

So the halving is very bullish? Yes.

But this doesn’t matter for LTC, ETH and BOMB because there is no real demand for the second best monetary tool because money solves the double coincidence of wants by becoming the ONE most marketable tool? Yes.

So prices of these copies are just high beta and high theta (time decay) derivatives of bitcoin? Yes.

And bitcoin is going up forever? Yes.”