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Bitcoin and all its forks will fall …

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Bitcoin and all its forks will fall ...

Bitcoin and all its forks will fall in price before halving – research
CONTENT

  • Upcoming halvings at BCH and BSV will worsen the market

  • Miners are the main bitcoin sellers so far

  • After the May halving, the situation may still change

International consortium of news organizations developing transparency standards.

High pressure from cryptocurrency miners will affect not only Bitcoin, but all of its forks, including BCH and BSV.

Another Bitcoin mining is approaching, but the debate about its impact on the cryptocurrency industry still does not subside..

Bitcoin and all its forks will fall ...

Bitcoin halving is cutting the number of new coins created and earned by miners in half, according to a study by Coin Metrics. This happens approximately every four years and … More Bitcoin will affect not only the largest cryptocurrency by capitalization, but also all its forks, including Bitcoin Cash (BCH) and Bitcoin SV (BSV).

As a result of fierce disputes, two camps have formed: some are sure that the market fell before the halving, while others expect a much larger fall.

The ambiguity of the situation is fueled by the fact that bitcoin has so far survived only two halvings in the entire history of its existence. As a result, evidence-based discussions were stumped by a lack of common terminology, small sample size and unavailable data on critical issues.

Miners now represent the largest backbone of those who sell cryptocurrency. The primary reason for constant sales is the payback of the profitability of mining against the background of a decrease in the price of bitcoin and, accordingly, the profitability of mining..

It turns out surrealism, in which miners are forced to save their position by massively draining cryptocurrency, which, in turn, contributes to a price dump.

Domino effect

Bitcoin selling pressure from miners is likely to continue to grow as Bitcoin Cash (BCH) and the Bitcoin SV blockchain will have halving on April 8 and 9, respectively..

All three cryptocurrency projects use the same mining algorithm – SHA-256, and miners can seamlessly redirect their hash power to the asset that provides the maximum return on investment.

When Bitcoin Cash and Bitcoin SV cut mining rewards, it will force miners to redirect even more hashpower to Bitcoin, as it will continue to receive a block reward of 12.5 BTC until May.. 

Bitcoin and all its forks will fall ...

The strongest will survive

Thus, according to Coin Metrics, miners themselves provoke an increase in the difficulty of bitcoin, which should further reduce the profit for all miners..

As a result, miners will be in a state of surrender even before the halving itself. As soon as the block reward is halved, miners’ revenues will be halved and costs will remain constant, so Coin Metrics expects further withdrawal of miners from the cryptocurrency market in the coming months..

As miners begin to withdraw from the market, only those with the lowest mining costs will remain. With the departure of weak miners, the profit margin will increase, which in turn will reduce the pressure on the feverish Bitcoin sales and increase the price of the cryptocurrency..

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