Here is why #bitcoin WILL go up after the halving. Not instantly, but it will. The bullrun is far from being done.
Right now, it costs about $40,000 USD to mine 1 single $BTC
The bitcoin halving will cut the rewards by half, which means that it will cost $80,000 to mine 1 bitcoin.
So, alot of miners will leave. There’s no point mining bitcoin if it’s not profitable.. right?
Well, once 50-60% of miners leave, everything will rebalance. The people that keeps mining bitcoin will hold until at least $80k minimum, to make sure they’re profitable.
But usually, the price goes higher than what it costs to mine 1 btc.
In example, right now it cost $40k to mine 1 bitcoin and the price went as high as $73k a few weeks ago.
So, in theory, if history repeats itself, we should see a $130k to $150k bitcoin this bullrun.
This is purely based on fundamentals, not hope.
I hope this helps.
dyor before investing.
