Expected bitcoin halving occur in 2024 spill a lot of ink. Many expect this event to increase the rarity level of the flagship crypto and why not a bullrun BTC. Coinbase recently did a study on this block reward halving. Zoom !
The BTC halving according to Coinbase
As we approach the next Bitcoin halving, the betteranticipate what will happen in 2024. Asked about this topic, ChatGPT urged crypto investors to be cautious on occasion.
For Coinbase, the historical data concerning the Bitcoin halving does not allow to have a preview of what will happen at this time. But the company behind COIN clarified that this is always viewed positively. The increase in the level of rarity of BTC depends on it, in fact.
Coinbase also clarified that the upcoming BTC halving will positively impact the queen of cryptocurrencies. The meeting is certainly set for the second quarter of 2024 but it is not a foregone conclusion.
” To get a clear idea of how markets have reacted to previous bouts of bitcoin halvings, one needs to disentangle the effect of liquidity, rates, and US dollar movements. “says analyst David Duong.
Besides this story of strengthening the ” potential rarity of BTC, Coinbase is as advanced as the bitcoin halving will support the dynamics of supply and demand.
Only efficient miners will survive it
The bitcoin halving is imminent. There will definitely be advantages and disadvantages. It should be noted that on the side of the minors, those who have less energy-consuming and more efficient devices will come out on top.
According to Wolfie Zhao, Head of Research at Blocksbridge, the break-even point for bitcoin miners will be doubled from next April for listed miners. It will be valued between 20,000 and 30,000 dollars instead of 15,000 dollars for the present moment.
Thus he commented:
” If Bitcoin Doesn’t Get Seriously Above $30,000, Many May Mining at a Loss “.
In other words, the bitcoin halving will disadvantage miners with production costs per BTC very high. According to the Zhao statistical data, mining on the basis of $10,400 per bitcoin is very expensive. Such is the case of Riot.
Some firms like Riot Platforms, Cipher Mining, and Stronghold Digital Mining are approaching $8,200. These will have a positive impact on their cash flow by 2024.
For bitcoiners, you have to keep hatching their BTC before the halving if they want to reach the moon.
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