As the Bitcoin halving approaches, concerns arise about the impact on price and mining revenues. Bitfinex CTO and Tether CEO Paolo Ardoino highlights the unpredictability of the halving's effect on price due to increased demand from spot ETFs. With less than 5000 blocks left before the halving, the market sees a mix of bullish sentiment and caution, with miners bracing for reduced rewards and potential centralization of mining power. The event, occurring every four years, is expected to lead to a surge in Bitcoin prices, but also poses financial challenges for small miners.
💥#Bitcoin Halving in 31 Days💥 https://t.co/6YqYzpO59y
Bitfinex warns of potential centralization of mining power amid concerns over the upcoming Bitcoin's fourth halving, which could increase financial pressure on small miners https://t.co/GgOg3TRSji
#Bitcoin's 11th Hour — Miners Brace for Upcoming Reward Cut https://t.co/BiUefgP32F
Every four years, Bitcoin miners see their reward for validating blockhain transactions get cut in half. Bullish investors expect prices to surge. Mines have concerns.
The halving is next month and 🤡's are selling their Bitcoins. 1 month after we went live with spot ETF's ... 🤭🤣 ok. https://t.co/vgUotZaXIh
The halving is next month and 🤡 are selling their Bitcoins. 1 month after we went live with spot ETF's ... 🤭🤣 ok. https://t.co/vgUotZaXIh
The halving is month and 🤡 are selling their Bitcoins. 1 month after we went live with spot ETF's ... 🤭🤣 ok. https://t.co/vgUotZaXIh
#Bitcoin Miners Near Final Month Before Reward Halving Slashes Revenues https://t.co/BiUefgP32F
We've got less than 5000 blocks left before the halving and Elon is joking about buying meme coins while Blackrock and their ilk amend Ether spot ETF filings for a final deadline just weeks away and you're selling
NEW: Bitfinex CTO and Tether CEO Paolo Ardoino noted that it may be difficult to predict the impact on price of the upcoming #Bitcoin halving. Ardoino noted that, with the advent of outsized demand from spot ETFs, “Bitcoin demand [already] far outstrips current mining.” https://t.co/32Q4KHgbXq