Bitcoin has finally halved for the second time after all the anticipation. The world's most popular cryptocurrency is now in its final stages of mining as we approach its third halving in the year 2020, with only approximately 5million coins left to mine, the miner reward for the coin has also dropped by half from 25 to 12.5, this also means their profit has also halved, except there is an increase in price of the coin in the coming days.
The current price of bitcoin stands at $650 as at the time of writing this article, and most bitcoin mining sites have taken note of the halving by reducing the expected profit from their mining pools by half, this means that it would now take about twice the amount to mine the coins at a profitable level. Hopefully the demand for the coins will continue to overshadow the negative impacts of halving on miners profitability, and cause an increase in the price of bitcoin and other altcoins in the market. Now that the halving is out of the way and miners have adjusted their mining fees and rates, it is now up to the cryptocoin market to drive the price of the coin to higher heights.
The current price of bitcoin stands at $650 as at the time of writing this article, and most bitcoin mining sites have taken note of the halving by reducing the expected profit from their mining pools by half, this means that it would now take about twice the amount to mine the coins at a profitable level. Hopefully the demand for the coins will continue to overshadow the negative impacts of halving on miners profitability, and cause an increase in the price of bitcoin and other altcoins in the market. Now that the halving is out of the way and miners have adjusted their mining fees and rates, it is now up to the cryptocoin market to drive the price of the coin to higher heights.
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