Bitcoin

April

Influencer

Rekt (rektarb.xyz)

Rekt

<p>The post <a href="https://coinpedia.org/news/bitcoin-miners-could-face-bankruptcy-if-bitcoin-trade-below-80k-says-top-crypto-influencer/">Bitcoin Halving Countdown: Will Miners Survive the Profit Squeeze? Here’s the Truth</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With only a week remaining until the <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin halving</a>, the cryptocurrency market is on edge as <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a> sits around $70,000, showing an unusual calmness before the storm. However, underneath this surface tranquility, miners are grappling with a daunting challenge: the soaring mining difficulty that threatens their profits post-halving.</p> 
<p>Here’s everything you need to know about this.</p> 
<h2 class="wp-block-heading" id="h-miners-dilemma-the-80-000-threshold"><strong>Miners’ Dilemma: The $80,000 Threshold</strong></h2> 
<p>Kenn Bosak, a prominent figure in the crypto world, issues a warning that Bitcoin must maintain a price above $80,000 after the halving to keep mining profitable. Falling short of this mark, he cautions, could spell financial disaster for miners, pushing them toward bankruptcy.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bitcoin has to stay above $80k to remain profitable for mining, after the Halving.<br><br>3 outcomes<br><br>1) Bitcoin stays above $80k and everything is fine<br><br>2) Bitcoin crashes and Miners go bankrupt and get acquired by institutional money<br><br>3) Bitcoin dips and Miners get a bank style…</p>— KennBosak.ETH (@KennethBosak) <a href="https://twitter.com/KennethBosak/status/1778629196354322752?ref_src=twsrc%5Etfw">April 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-the-three-possible-scenarios">The Three Possible Scenarios</h2> 
<p>Bosak outlines three scenarios based on Bitcoin’s current price trend:</p> 
<ol> 
 <li><strong>Staying Strong:</strong> If Bitcoin manages to stay above $80,000, miners can remain profitable and keep the mining ecosystem healthy.</li> 
 <li><strong>Facing Financial Strain:</strong> If Bitcoin’s price sharply drops below $80,000, <a href="https://www.coinwarz.com/mining/bitcoin/difficulty-chart">miners</a> may struggle financially, risking bankruptcy. The recent surge in mining difficulty, reaching 86.39 trillion hash marks, adds to the challenge.</li> 
 <li><strong>Hope from Institutions:</strong> Despite the risks, Bosak suggests that institutional investors might step in to rescue struggling miners, leading to industry consolidation.</li> 
</ol> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/bitcoin-halving-will-fuel-these-major-altcoins-2x-5x-profits-expected/">Bitcoin Halving will fuel These Major Altcoins – 2x-5x Profits Expected!</a></p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-re-accumulation-phase"><strong>Bitcoin’s Re-Accumulation Phase</strong></h2> 
<p>Renowned crypto analyst Rekt Capital notes that Bitcoin is entering a re-accumulation phase as the halving nears.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <br><br>As is historically the case, Bitcoin is developing a clear Re-Accumulation Range going into the Halving<br><br>This is the range Bitcoin would likely breakout from weeks after the Halving<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/Az2lku1vNo">pic.twitter.com/Az2lku1vNo</a></p>— Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1778688716875108724?ref_src=twsrc%5Etfw">April 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Looking back at historical data, Rekt Capital sees similarities with the 2020 halving cycles, where Bitcoin’s price stabilized around $14,000 before surging to $69,000 in 2021.</p> 
<h2 class="wp-block-heading" id="h-predicting-the-future">Predicting the Future</h2> 
<p>As of now, Bitcoin is priced at <a href="https://markets.coinpedia.org/bitcoin/">$70,838</a>, showing a slight decrease over the past 24 hours, while its market cap remains at $1.39 trillion.</p> 
<p>As the <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin halving</a> draws nearer, the fate of miners hangs in the balance. With stakeholders preparing for the impending shift, all eyes are on the charts, anticipating the event that could reshape the crypto market landscape.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/will-bitcoin-btc-price-hit-new-ath-in-less-than-10-days/">Will BTC Price Hit $100,000 This Month? Experts Bullish on Upcoming Bitcoin Halving</a></p>

Bitcoin Halving Countdown: Will Miners Survive the Profit Squeeze? Here’s the Truth

Table of Contents

CoinPedia News

Other articles published on Apr 12, 2024

Trader Says He’s Still ‘Hugely Bullish’ on This Gaming Altcoin, Updates Outlook on Arbitrum and R...

Here’s Why Solana (SOL) Price Could Drop to $130 Next

Expert Analysis Unveils ADA’s $5 Path: 300% Potential Surge

Binance Announces New Launchpool Project Featuring Omni Network (OMNI)

Don’t Miss The VeChain Train — Analyst Projects 400% Price Increase

Venture Capital Guru Touts Work In Crypto As 'One Of The Most Asymmetric Things For Your Career'

Join our free newsletter for daily crypto updates!