Bitcoin (BTC) halving is one of the most anticipated events in the crypto space, and this event has the potential to propel the asset’s price to new highs. However, experts warn that the halving event could also be a "death knell" for some miners due to the high costs of the process, potentially driving them into bankruptcy.
This concern coincides with a period when the Bitcoin mining sector is operating under debt due to last year's prolonged bear market and increased electricity costs. Bitcoin's price will need to reach $50,000 to $60,000 next year to sustain profit margins after the halving.
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