The upcoming Halving Bitcoin will double the cost of mining, causing the price to skyrocket to $ 90,000 or higher
For operators who use high-speed computers to mine BTC, halving will cost them double the cost.
The estimated average cost to mine a Bitcoin could rise to $ 12,525 after the halving is expected to occur in May, double the current average of $ 6,851. Basically, miners will have to run twice as many calculations, with the corresponding increase in electricity usage, to get the same amount of Bitcoin they currently receive.
Once created a decade ago, halving was programmed on Bitcoin's original network as an anti-inflation factor. Accordingly, the speed of new and predictable supply of coins will help stabilize Bitcoin's purchasing power - in contrast to the government-supported currencies that often print at the will of central banks.
What is happening now is a lesson in the emerging economics of a market cycle just like the goods of Bitcoin: Other mining companies are competing to prepare for halving by upgrading computers such as processor chips. Next generation faster and more energy efficient
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Bitcoin virtual currency exchange In the meantime, as the price of Bitcoin struggles to achieve or retain its highest value this year at $11,500, this would be a great chance for investors to buy and restock Bitcoin in their wallet before its price pump high and it is too late for them. The halving would surely affect the standing of Bitcoin greatly and predictions like this are not far from impossible. In addition, we could see the gradual increase in the movement of Bitcoin that migt possibly indicating that it is gaining momentum overtime.
For me, Bitcoin would surely achieve an all time high this year as the demand for the coin will increase during and after the halving event.