---How Listed Miners Are Shaping the Bitcoin Market in 2024---
The upcoming $BTC halving in April 2024 is anticipated to unfold smoothly, without significant forks or missed blocks. As the issuance of new coins is halved, miners operating at a loss are likely to disconnect, allowing those with cost-effective power sources to gain a larger market share.
Fortunately, the impact on public markets is expected to be minimal, thanks to the improved financial positions of listed miners, who currently control approximately 25% of the global hash rate, marking a record percentage.
Following a brief period of consolidation lasting from several days to weeks post-halving, during which the market absorbs the additional selling pressure from unprofitable miners, Bitcoin is projected to surpass $48,000.
This level corresponds to the neckline of the head-and-shoulder pattern that was completed in April 2022. While, on average, Bitcoin miners are expected to underperform the Bitcoin price leading up to the halving, the miners with lower operational costs such as CLSK and RIOT are anticipated to outperform their counterparts.
Furthermore, post-halving, there is an expectation that at least one publicly traded miner will experience a tenfold increase in value by the end of the year.
