Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/key-insights-from-bitcoins-recent-halving-event/" data-wpel-link="internal">Key Insights from Bitcoin’s Recent Halving Event</a><br></p>
<p style="text-align: justify">Over the weekend, a thrilling event occurred for those keeping a pulse on the <strong>cryptocurrency</strong> world: the halving of <a href="https://coin-turk.com/haftalik-kapanisa-saatler-kaldi-analistler-bitcoin-btc-hakkinda-ne-soyluyor" data-wpel-link="internal">Bitcoin</a>. Charles Edwards, analyst and founder of Capriole Investments, shared three possible future scenarios for <a href="https://en.coin-turk.com/bloomberg-analyst-loses-optimism-as-bitcoin-fails-to-surpass-30000-why/" data-wpel-link="internal">Bitcoin</a> on social media platform X following this significant milestone.</p> 
<h2 style="text-align: justify" id="bitcoin-s-electricity-cost-hits-77-400">Bitcoin’s Electricity Cost Hits $77,400</h2> 
<p style="text-align: justify">According to Edwards’ tweet, following the halving on Saturday, the electricity cost per new cryptocurrency, Bitcoin, rose to a remarkable figure of $77,400. This figure represents the raw electricity cost to power the Bitcoin network.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-343130 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-elektrik-coin-turk-com-.png" alt="" width="1761" height="845"></p> 
<p style="text-align: justify">However, he noted that the overall Bitcoin miner price is currently around $244,000, which includes block rewards and transaction fees. Edwards also highlighted that Bitcoin transaction fees have now risen above $230, marking a fourfold increase compared to historical peaks.</p> 
<p style="text-align: justify">Edwards concluded that the cryptocurrency is currently trading at a “deep discount,” adding that the “Below Electricity Cost” situation typically lasts only a few days every four years.</p> 
<h2 style="text-align: justify" id="three-possible-scenarios-for-bitcoin">Three Possible Scenarios for Bitcoin</h2> 
<p style="text-align: justify">According to the analyst, there are three possible scenarios for Bitcoin. The first scenario involves a rapid rise in <a href="https://en.coin-turk.com/bitcoin-whales-activities-shed-light-on-market-trends-amid-regulatory-challenges/" data-wpel-link="internal">BTC</a> prices. The second scenario relates to approximately 15% of Bitcoin miners shutting down their equipment and quitting the business. The third scenario is that transaction fees remain higher than average.</p> 
<p style="text-align: justify">Edwards personally expects “a bit of all three” scenarios to unfold, ending his prediction by stating that the days of Bitcoin being under $100,000 are numbered.</p> 
<h2 style="text-align: justify" id="microstrategy-founder-s-bitcoin-prediction">MicroStrategy Founder’s Bitcoin Prediction</h2> 
<p style="text-align: justify">Meanwhile, over the weekend, Michael Saylor, founder of MicroStrategy and a Bitcoin advocate, made a significant Bitcoin price announcement. Reminding that on the day of the previous BTC halving, Bitcoin traded at $8,618, Saylor emphasized that the price later surged by 800%.</p> 
<p style="text-align: justify">Saylor’s tweet could be interpreted as an expectation of a similar rise. Eight times today’s Bitcoin price would approximately equal $528,300, which Samson Mow, another impressive figure who believes the halving creates a “quantitative tightening,” considers a significant development.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/key-insights-from-bitcoins-recent-halving-event/" data-wpel-link="internal">Key Insights from Bitcoin’s Recent Halving Event</a></h5>

Key Insights from Bitcoin’s Recent Halving Event

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