RATE Group | Post-Halving Mining Costs to Help Propel Bitcoin to $15,000
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Post-Halving Mining Costs to Help Propel Bitcoin to $15,000

08 Feb Post-Halving Mining Costs to Help Propel Bitcoin to $15,000

Posted at 11:22h in Bitcoin News by

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Bitcoin’s firm 2020 uptrend has led many analysts to question what types of fundamental and technical events could help bolster its mid-term price action and propel the cryptocurrency higher, and naturally its upcoming mining rewards halving is one such event that is widely looked upon as being bullish.

It is important to note that the halving, which is slated to occur in early-May, will increase the cost to mine BTC, and as such the price of Bitcoin will have to increase significantly in order for miners to be profitable, thus disincentivizing miners to sell their BTC.

Bitcoin’s Upcoming Halving May Help Propel it to $15k+

Currently, Bitcoin is trading up marginally at its current price of $9,770, which marks a slight decline from daily highs of just under $9,800.

BTC’s firm uptrend has allowed the cryptocurrency to put a significant amount of distance between its year-to-date lows of $6,800 that were set in the early part of January.

It is important to note that…

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