The halving will be here any day now. Unfortunately, this will make many bitcoin miners non-profitable for the near future. What will they do? Will they just shut off their mining machines or will they begin mining BCH instead?
I think it is going to be an interesting couple of weeks ahead seeing how the mining world finds its equilibrium. Bitcoin cash just had their halving a few weeks ago along with a run up in price, and we saw bitcoin miners jump over to pick up some extra profits. I think we could see something similar happen after the bitcoin halving as well.
Bitcoin cashes mining difficulty adjusts every 10 minutes while Bitcoins mining difficulty adjusts every 2 weeks. This could mean that during that 2 week period a lot of bitcoin miners could migrate to bitcoin cash. This may result in a run up in bitcoin cash price as well.
Very curious how this all plays out. It is always very hard predict. Would love to hear everyoneβs thoughts.
Happy halving,folks!
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