latest Crypto World News

Search and discover the latest Cryptocurrency updated Stories in Categories.

24-7 Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources.

Crypto Researcher: Bitcoin Needs To Hit $7k For Miners To Break Even

21 total views, 21 views today

A few months ago when a row erupted between two camps about the BCH hard fork, the Bitcoin market was so affected that some miners pulled out of the business. Overall, the economics surrounding cryptocurrencies is by itself a difficult topic that often creates catalytic debates that end up unearthing other underlying issues like transaction fees and the talk of just how much the coin should be worth in minimal in order for miners to make a buck.
Expert Opinion
The latest opinion comes from a popular crypto researcher known as Filb Filb. According to Filb, the current Bitcoin value doesn’t quite favor the miners, especially considering the costs of operations incurred on their end. In a twitter post , Flib sought to bring to light the economics surrounding the crypto mining business.
Bitcoin Halvening Next May
Explaining his point, Flib pointed out that the mining fees are about 1% and the remaining 99% is basically is the revenue from the total income raked in. However, this income decreases when halvening occurs and also when network scalability systems like the Lightning Network come in. In fact, according to Flib, Bitcoin mining fees would have to increase by x46 to maintain the miner’s income after the next halvening expected in May 2020.
To avoid that, Bitcoin’s price will need to shoot up to around $7,000 by May 2020. That’s just about double the current Bitcoin price. According to another Analyst going by the name Moon Overlord, Bitcoin’s price tends to start catching up about a year before the halvening occurs. With that, the analyst projects that Bitcoin’s price surge could begin as early as this May since the halvening is scheduled for May next year (2020).
The post Crypto Researcher: Bitcoin Needs To Hit $7k For Miners To Break Even appeared first on Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News .

- - - - -

Thank you for Share!

Read the full Article

Read the full Article: Crypto Researcher: Bitcoin Needs To Hit $7k For Miners To Break Even

Search Crypto News


The latest Top News, from up to 70 Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


24h Most Popular News