For Bitcoin miners, the prospect of the upcoming
halving event, which will see block rewards reduce by 50% in May 2020, can be a daunting one. Marco Streng, CEO of Genesis Mining, summarized why: "The halving is a brutal wipeout event. It knocks out immediately the miners who are not efficient enough and it shows no mercy."
But, while some miners are concerned about the halving, others are optimistic about it. "If you look at six months before the halving to six months after the halving on both previous instances, you see a massive upward surge in the price of Bitcoin," explained HyperBlock Inc CEO Sean Walsh.
So could the price of Bitcoin increase during the halving, and how will the event impact miners moving forward? Mining industry leaders share their predictions:
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