The upcoming Bitcoin halving will be a critical test for miners due to lower block rewards and rising costs. Writes about it The Block with reference to a report by JPMorgan analysts.
According to analysts, halving the block reward has historically had a positive impact on the price of the first cryptocurrency, but created problems through an increase in the cost of mining.
The growth of the bitcoin hashrate also affects competition in the industry. However, after the block reward reduction, the indicator will not grow at the same pace, analysts say. At the same time, an increase in the price of an asset or the volume of transaction fees does not necessarily compensate for an increase in the costs of miners.
In the second half of June, miners sent more than $1 billion in the first cryptocurrency to exchanges, setting a daily record for the inflow of the asset along the way.
Source: Cryptocurrency
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