Bitcoin Halving: Brace for Impact
The Bitcoin market stands on the precipice of a significant event – the upcoming halving. Expected to occur this weekend, the halving will see the block reward for miners cut in half. While the long-term implications remain positive, analysts offer a mixed bag of predictions for the short term. Some anticipate a price surge, while others expect a period of adjustment as the market absorbs the change.
A recent report by JPMorgan throws a curveball, predicting a potential 20% decline in Bitcoin's hash rate – the computing power securing the network. This decline could be attributed to older, less efficient mining rigs becoming unprofitable after the halving.
