Big day for the miners of $BTC : the halving begins!

With the #Bitcoin halving, which will take place between April 18 and 20, the electricity costs spent by #Bitcoin miners to produce coins will approximately double and the rewards they receive will be halved. Initially, this could hurt miners' profitability. But historically, miners' profits have tended to increase in the months following each halving (as the price of #Bitcoin rises). Price drops during the halving can offer opportunities to investors. Capriole Investments' Bitcoin Production Cost Indicator also explains this. The dark green line at the bottom estimates the average electricity cost to mine a single bitcoin, while the purple line in the middle represents the total cost (electricity plus operating costs). The light green line shows how much miners sold their coins for. So, the higher the middle line is above the green line, the more profits miners will make on average. Now, the largest gaps between the light green and purple lines began nine months after the 2016 halving (first rectangle) and six months after the 2020 halving (second rectangle). This is mainly because the price of Bitcoin increases after each halving (and stays higher for a while). We should also note that this year's event has special importance compared to previous halvings. This year, the US Securities and Exchange Commission's approval of 11 ETF applications from #Bitcoin positioned Bitcoin for a broader sea of ​​investors, causing the cryptocurrency to set a new record ahead of the cycle. halving. Furthermore, these developments led to a very bullish change in price targets of #Bitcoin .