#How much should BTC cost for mining to be profitable after halving?
According to calculations by the CEO of the analytical platform CryptoQuant, Ki Young Ju, in order for miners to mine Bitcoin profitably, its price must exceed $80,000 after halving.
The landmark event is scheduled for April 20, 2024. After Bitcoin halving, the reward to miners for mining a block will be halved. At the same time, the costs of obtaining the same number of coins, on the contrary, will increase.
After the previous halving, which took place in May 2020, the cost of mining increased to $30,000. At the same time, Bitcoin also rose in price, reaching a record level of $69,000.
Now the average cost of Bitcoin mining is $49,900, and the asset itself is trading above $70,000. After April 20, 2024, BTC mining costs will exceed $80,000, which means the asset must trade above this level for miners to continue making profits.
Historically, after halving, the value of Bitcoin increases. In 2012, the asset rose in price by almost 9,000% to $1,162. In 2016, the price of the cryptocurrency soared by about 4,200% to $19,800, and after halving in 2020, by 683% to $69,000.
