are BTC going to dump 30k before the Halving

Bitcoin (BTC) was the cause of some stories which suggested a drop under $30,000 to reach a new all-time high (ATH). But, I maintain that the maliciously spread rumors are not based on any piece of evidence for such reasons.

In the first place, the reward in BTC is cut by half after the halving occurs, which makes it less profitable for the mining companies because of their electricity cost. If Bitcoin was to slip below $30,000 it would make mining as a whole unprofitable. The result would be reducing the number of miners, rendering it problematic for transactions to be carried out.

Bitcoin Mining requires the participation of miners who spread the transactions over the network and keep it running. Without miners, Bitcoin would turn into crypto with little or no worth, because it would, in essence, be a coin with no function. Unlike this situation, Bitcoin is unlikely to retrieve to $40,000 and might tumble to even $15,000. People will find alternatives like Solana (SOL) or Bitcoin Cash (BCH) to use.

Consequently, the idea of Bitcoin falling about $30,000 or less is highly unlikely. It would drop the most to the level of $52,000 that would be the lowest, which Bitcoin may touch. This is because given the support level at $52,000 would stop Bitcoin from the downward movement.

To keep the infrastructure of the network safe and sound, and the security of the transactions intact, Bitcoin needs to be at a particular price level. From my standpoint, the price of Bitcoin should be at least at $120,000 for it to fall back at $52,000. Specifically, $52,000 is the absolute lowest level for Bitcoin to become with a price movement supporting the stability of the network.

Summing up, the hypothesis of bitcoin’s dumping below $30,000 cannot be true, since it an action would create network’s malfunction and its lower worth. The price must stay above a certain level for the usage of Bitcoin to be maintained, and the stability of its network.

$BTC

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