Shares of the largest mining companies are showing a sharp decline in prices as the halving in the Bitcoin network approaches, following which on April 20 alt price the reward for mining blocks and the volume of new coins entering circulation will be halved. Thus, the securities of Marathon Digital (MARA) and Riot Platforms (RIOT) have fallen in price by 16 and 17%, respectively, alt coin prices over the past five days. Investment firm Valkyrie's WGMI exchange-traded fund (ETF), which tracks miners, fell 11.2% over the same period, according to TradingView alt to usdt.
Halving is a twofold reduction in the reward to miners for a mined block in the blockchain, embedded in the Bitcoin code; it occurs approximately once every four years. Initially, miners received 50 BTC, on November 28, 2012, the amount decreased to 25 BTC, on July 9, 2016 - to 12.5 BTC, on May 11, 2020 - to 6.25 BTC. On April 20, 2024, the reward will be reduced to 3,125 BTC alt price prediction.
What else is known? Despite the decline spongebob token price in prices, the heads of mining companies are optimistic. In a conversation with Bloomberg, they spoke about low transaction costs, increasing equipment efficiency and growing demand for Bitcoin. Riot Platforms CEO Jason Les believes that there are all the necessary prerequisites for a positive movement in the Bitcoin rate over the next few months.
The vast majority of miners' income comes from rewards for mining blocks; in comparison, transaction fees are an insignificant amount. At the end of March, industry companies received a record monthly income of over $2 billion, then in the middle of the month BTC alt coin prices updated its all-time high at above $73,500.
A reduction in rewards coupled with a correction in the BTC rate may result in companies being unable to cover the costs of mining coins. Marathon Digital CEO Fred Thiel previously stated that to maintain profitability after the halving, the company should spend no more than $46,000 on mining one coin.
Miners are counting on increased demand from new US spot Bitcoin ETFs. Already, their issuers are purchasing an average of 2,450 coins daily, while after halving the number of coins mined over the same period will decrease from 900 to 450. In combination, these factors can lead to an increase in the rate due to high supply and low demand, says Hashlab Mining strategist Jaran Mellerud .
Later, Santiment noted that traders are increasingly discussing the advisability of holding bitcoins due to a potential long-term correction after halving. With altcoins in the AI, DeFi, gaming and meme sectors recovering, panic around BTC will increase, experts said.
Halving is a twofold reduction in the reward to miners for a mined block in the blockchain, embedded in the Bitcoin code; it occurs approximately once every four years. Initially, miners received 50 BTC, on November 28, 2012, the amount decreased to 25 BTC, on July 9, 2016 - to 12.5 BTC, on May 11, 2020 - to 6.25 BTC. On April 20, 2024, the reward will be reduced to 3,125 BTC alt price prediction.
What else is known? Despite the decline spongebob token price in prices, the heads of mining companies are optimistic. In a conversation with Bloomberg, they spoke about low transaction costs, increasing equipment efficiency and growing demand for Bitcoin. Riot Platforms CEO Jason Les believes that there are all the necessary prerequisites for a positive movement in the Bitcoin rate over the next few months.
The vast majority of miners' income comes from rewards for mining blocks; in comparison, transaction fees are an insignificant amount. At the end of March, industry companies received a record monthly income of over $2 billion, then in the middle of the month BTC alt coin prices updated its all-time high at above $73,500.
A reduction in rewards coupled with a correction in the BTC rate may result in companies being unable to cover the costs of mining coins. Marathon Digital CEO Fred Thiel previously stated that to maintain profitability after the halving, the company should spend no more than $46,000 on mining one coin.
Miners are counting on increased demand from new US spot Bitcoin ETFs. Already, their issuers are purchasing an average of 2,450 coins daily, while after halving the number of coins mined over the same period will decrease from 900 to 450. In combination, these factors can lead to an increase in the rate due to high supply and low demand, says Hashlab Mining strategist Jaran Mellerud .
Later, Santiment noted that traders are increasingly discussing the advisability of holding bitcoins due to a potential long-term correction after halving. With altcoins in the AI, DeFi, gaming and meme sectors recovering, panic around BTC will increase, experts said.
