Bitcoin

Analysts from Wall Street giant JPMorgan recently stated that next year’s Bitcoin halving event could put pressure on BTC miners. In a recently circulated <a href="https://www.coindesk.com/business/2023/07/17/next-bitcoin-halving-event-could-be-a-stress-test-for-miners-jpmorgan/?utm_term&#61;organic&amp;utm_medium&#61;social&amp;utm_source&#61;twitter&amp;utm_content&#61;editorial&amp;utm_campaign&#61;coindesk_main" rel="noopener noreferrer nofollow">report</a>, the analysts wrote that the reduction in Bitcoin mining rewards would affect the revenues of BTC miners by significantly increasing the flagship cryptocurrency’s production costs.Analyst Nikolaos Panigirtzoglou wrote in JPMorgan’s latest Flows and Liquidity report that 2024’s Bitcoin halving could be a “stress test” for BTC miners around the world. According to the analyst, the halving would bring down mining rewards from 6.25 BTC to 3.12 BTC.Speaking on the plight of Bitcoin miners, Panigirtzoglou stated:“While bitcoin halving is seen as having a positive effect on the bitcoin price given the production cost acted historically as a floor, it poses a challenge for bitcoin miners.&#34;Bitcoin halving is one of the most widely anticipated events in the crypto space. The event reduces the block rewards for mining by half and happens once every 210,000 blocks. The last halving event <a href="https://www.cnbc.com/2020/05/11/bitcoin-halving-heres-what-you-need-to-know.html" rel="noopener noreferrer nofollow">occurred</a> in May 2020, when the block reward went from 12.5 BTC to 6.25 BTC. Historically, BTC’s price tends to go up following a halving event.Read full article at <a href="https://cryptotale.org/jpmorgan-says-2024s-bitcoin-halving-could-put-pressure-on-miners/" rel="noopener noreferrer nofollow">CryptoTale.</a>

JPMorgan Says 2024’s Bitcoin Halving Could Put Pressure On Miners

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