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My fears regarding bitcoin halving

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by COINS NEWS 92 Views

First of all, some general info regarding the halving:

Roughly every four years, the reward for successfully mining a bitcoin block is cut in half. This event, known as the halving, reduces inflationary pressure on bitcoin. Currently, rewards are 6.25 BTC per block ($170,000) and in now they will be reduced to 3.125 BTC per block ($85,000).

Currently, publicly listed miners mine at a cost of $10,000-$15,000 per bitcoin, said Wolfie Zhao, head of research at mining consultancy Blocksbridge. Once the halving happens, these costs will double, bringing miners’ breakeven point to $20,000-$30,000.

“If bitcoin isn’t seriously above $30,000, many of them could be mining at a gross loss,” he said.

Now my fears:

Let's be honest, bitcoin mining is moving serious markets and money in hardware.
If price will go under 30k and miners stop we could see a sudden drop in interest and full fledged panic price implosion fueled by this lack of interest.
Is a bitcoin market collapse on the books or I am just stupid?

submitted by /u/Iulian_TechNewb
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