The world of cryptocurrency is constantly evolving, and the May 2020 Bitcoin halving marked a turning point for miners. Even though mining costs doubled following the event, a parabolic rise in the price of Bitcoin not only covered these costs but also ensured profitability for miners. ๐
This phenomenon has generated a significant impact on the bottom line of miners, especially for those smaller participants who face challenges due to market fluctuations. However, the emergence of Bitcoin Ordinals and the increase in transaction fees have offered new revenue streams, preserving the economic viability of post-halving mining. ๐
Laurent Benayoun, CEO of Acheron Trading, recently expressed that, in dollar terms, miners could be even better positioned after the halving. And the data seems to support this claim. Bitcoin mining difficulty, already near all-time highs, is scheduled to increase by approximately 2% on April 11, surpassing 85 trillion for the first time, reflecting a more robust and secure network. ๐
Despite a month of consolidation in the BTC price, the fundamentals of the Bitcoin network are stronger than ever, preparing for new highs. This is not only good news for miners, but also for the entire cryptocurrency community, as it indicates a promising and stable future for the most iconic currency in the sector. ๐ฅ
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