The miners will save Bitcoin from halving

1 min reading

In 2020 Bitcoin will approach another halving. Miners will want to maximize their profits, and therefore they will do everything to ensure that its price does not drop too low.

Ongoing declines

On July 17, Bitcoin's price has fallen to around $9,000. This is not the best time for BTC, because of a few factors. One of the most popular investors on Twitter, Filb Filb, has created a theory, that Bitcoin will not go as far down as some are afraid. In his opinion, cryptocurrency miners may have a lot to say, and it will be them who will improve the current situation.
As Satoshi has pointed out, the cost of goods translates into production costs. Why? Because miners will make it clear: profit is more important than the costs of the individual. In addition, they will be discouraged to work when the costs exceed the profits.
- summarized Filb Filb in his analysis.

Crypto-mining in 2019

Bitcoin mining in 2019 underwent radical changes. Profitability seemed to reach a new low, but in the meantime, it has led to better results than expected. The industry was positively surprised, and companies are increasingly planning to launch new systems. According to Filb Filb, the drop in profits from mining depleted the weakest players from the market. Nevertheless, in recent weeks, mining has almost become a discipline in which everyone fights everyone. Everyone wants to get the most out of each other, but halving will only reduce the prizes for each block by half. In Bitcoin's case, it will be a decrease from 12.5 BTC to 6.25 BTC.