Coinbase: Bitcoin L2 Ecosystem Outlook after BTC Halving
After the halving, miners’ income continued to rise and the Bitcoin L2 ecosystem heated up.
JinseFinanceAfter the halving, miners’ income continued to rise and the Bitcoin L2 ecosystem heated up.
JinseFinancePerhaps what is different from all previous halving cycles is the change in the income structure of miners, which is caused by factors such as the future price space of BTC and the current development status of the Bitcoin ecosystem.
JinseFinanceWill there be a sharp drop before and after this halving (guess a 40% retracement would be considered a sharp drop?). In fact, simple on-site speculation may not be enough to produce such a large amplitude, while external black swan events are something you can only encounter by chance.
JinseFinanceTaking into account the historical performance patterns before and after the Bitcoin halving and the current better environment, the price of Bitcoin is expected to hit US$60,000 before the halving in 2024, with the full-year range fluctuating between US$32,000 and US$85,000.
JinseFinanceThe event will double the bitcoin production cost to around $40,000, creating a positive psychological effect, the report said.
CoindeskThe last Bitcoin halving took place on May 11, 2020, and the next bitcoin halving will likely occur in 2024.
CoindeskBitcoin’s hashrate is reaching all-time highs, and it’s causing confusion about “the halvening” on Twitter.
CoindeskHash rate on the bitcoin network has hit a new all-time high of 281.79 million TH/s, and its next halving dates is projected to be as early as Q4 2023.
BeincryptoTraders still anticipate BTC prices above $100,000, but a closer look at the BTC halving cycle chart suggests that a sharper downside move will occur first.
Cointelegraph“It is difficult to ascertain the precise reason for this other than the hawkish rhetoric from the US Federal Reserve and the recent price decline,” CoinShares wrote.
Cointelegraph