Bitcoin has seen notable developments recently, especially with the “reward halving” event that occurred in May 2024. This event, which halves Bitcoin mining rewards, has led to mixed expectations regarding its impact on prices. Some analysts are predicting a significant rise in the value of Bitcoin, with some reports predicting the price to reach $150,000 by the end of the year.
The launch of Bitcoin exchange-traded funds (ETFs) in the United States has also contributed to increased demand for Bitcoin, as these funds have witnessed significant financial inflows since the beginning of the year. However, there are warnings that price gains may have already been achieved, and that the market may face significant volatility in the coming period.
For miners, scaling back rewards is a major challenge, as they now have to face falling profits while trying to maintain operating costs. The sector is expected to witness some consolidation to avoid losses.