halving, which will occur on or around April 16, has, as expected, sparked widespread discussion within the cryptocurrency community regarding where the Bitcoin price could head in the aftermath.
The investment bank estimates that industry-wide gross profits, currently about $2.5 billion per quarter, will decline 30% to 40%, with the network hashrate declining as much as 80 EH/s peak to trough. On the other hand, despite having the lowest energy prices of any publicly traded operator, the bank believes Neutral-rated Cipher Mining dips after a halving as unprofitable miners disconnect, but it tends to recover within weeks.
"What's the macro story for Bitcoin?" said Novogratz."It's relatively simple. Our government can't keep its pants on and stop spending money.”
Source: Digital Coin News (digitalcoinnews.net)
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