Will the next Bitcoin Halving trigger a bullrun again and is it a danger to Bitcoin?
Will the next Bitcoin Halving trigger a bullrun again and is it a danger to Bitcoin?
Bitcoin-Halving and its effects on the BTC Prize
In the past, Bitcoin-Halvings have led to significant upward movements in the BTC price. The question now is whether this trend will be repeated next year.
The Bitcoin-Halving is an event in which the Rewards reduces successful mining operation. These currently amount to 3.25 BTC. Halving is scared the offer of new Bitcoin, which should lead to a price increase in theory. Historically, the halving has always started a bullrun.
However, the mood among the BTC miners is steamed. Mining is already difficult and unprofitable. With the next halving, the situation could further tighten. Jaran Mellerud, a crypto mining analyst at Hashrate Index, predicts that almost half of the miners will suffer from the changed conditions. In particular, those with less efficient companies and higher costs will be affected.
Another problem for the miners is the increasing electricity price. The mining process is very energy-intensive, so that high electricity costs can also impair profitability. According to Wolfie Zhao, head of the Blockbridge Research Department, public mining companies currently pay $ 10,000 to $ 15,000 per Bitcoin. According to estimates, however, the cost of mining will be between $ 20,000 and $ 30,000. An increase in electricity costs could thus lead to consolidation or emigration within the mining industry.
Although the effects of the next halving are unsure, the event is expected with great tension. The coming months will be a decisive phase for Bitcoin, its miners and the global cryptocurrency market.
There is the possibility that the halvinging will trigger a massive bullrun again. The increasing global interest in Bitcoin and the efforts of large financial companies such as Blackrock and Fidelity to approve a Bitcoin spot ETF speak for a positive development of the BTC Prize. With a market capitalization of $ 570 billion, Bitcoin still has the potential to record massive gains again at the next halving.
It remains to be seen how Bitcoin and the cryptocurrency market will develop in the coming months. Halving could play a crucial role and decide whether Bitcoin will continue to be successful or not.