- April 20, 2024
- Posted by: legaleseblogger
- Category: Related News
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Who are the Big Winners in Bitcoin Amid Halving?
The founder of the crypto analytics platform CryptoQuant, Ki Young Ju, posted data on unrealised Bitcoin profits held by various types of investors, showing that old whales have emerged as the major winners in terms of unrealised profits.
Long-term Bitcoin investors, known as old whales, have seen a 223% increase in their unrealised profits, indicating that their holding strategy, combined with the rising Bitcoin prices, has been lucrative for them. This data was first published by Bitcoinist.
In addition to old whales, Bitcoin mining companies have also benefitted greatly from unrealised profits.
Small miners experienced a growth of 131% in their unrealised profits.
Big miners, many of which are listed companies, enjoyed an 81% increase.
The rise in Bitcoin prices leading up to the recent halving, and the current price holding above $63,000, have provided a boost to the industry. However, the mining industry is facing increased competition due to the 50% reduction in Bitcoin rewards for successful block transactions.
AI legalese decoder can assist in analyzing the legal implications of the halving for Bitcoin mining companies and provide recommendations on adapting business models to remain competitive in the evolving landscape.
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Bitcoin Miner Hits Jackpot with Halving Block
Following the recent halving, rewards for successful Bitcoin miners were reduced to 3.125 Bitcoin per block, along with any additional transaction fees.
The 840,000th halving block was mined by ViaBTC, earning over 40 Bitcoin, approximately $2.6 million, in block rewards and additional fees, as reported by Investopedia.
Users were willing to pay extra fees to have their transactions included in the 3,050 transactions within the halving block.
What Will the Bitcoin Price be at the 2028 Halving?
After a halving event, miners may receive reduced block transaction rewards, but historical trends suggest that halvings are often followed by price increases.
AI legalese decoder can provide insights into future market trends based on historical data and industry analysis to help investors and companies plan for the 2028 halving.
Swyftx lead analyst Pav Hundal predicts a minimum 100% price increase by the 2028 halving, reaching around $120,000 for Bitcoin.
Henrik Andersson, CIO at Apollo Crypto, forecasts a peak price of $200,000 before 2028, driven by wider institutional acceptance and the introduction of spot Bitcoin ETFs in the US.
Caroline Bowler, CEO of BTC Markets, cites investment banking firms like Standard Chartered, indicating a potential price target of $200,000 by the end of 2025.
Crypto Market Movers
- Bitcoin is down 0.38% today at $63,617.10.
- Ethereum is down 0.40% today at $3,045.68.
What Are We Reading?
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