#Will Bitcoin eco-tokens surge amid the upcoming halving?#

How Will Bitcoin Price React to the Halving in 10 Days? Famous CEO Announces and Gives the Level Needed for Miners to Stay Profitable
How will the price of Bitcoin react to the upcoming halving? The CEO of the mining giant shared his expectations.

Fred Thiel, CEO of Marathon Digital, the largest Bitcoin mining company in the United States, shared his views on the upcoming Bitcoin 'halving' event. A 'halving' can be defined as a software code update that is supposed to act as a catalyst for further price increases. However, Thiel believes that the market may have already partially priced in the 'halving'.

BTC has risen by over 60% since the beginning of the year. This increase is driven by optimism regarding the record demand for U.S. Spot ETFs that hold the coins directly. Historically, Bitcoin prices have tended to rise in the months following the previous three 'halving' events, which occur every four years.

In an interview with Bloomberg TV, Thiel said, "The ETF approval, which was a huge success, has drawn capital into the market and essentially brought forward the price increase that we could see three to six months after the halving."

"I think we're already seeing some of that, and that's brought some of the demand forward."

"The halving event will reduce the supply of Bitcoin by about 450 per day, which will likely have a small impact on prices," Thiel added:

"But as miners, we're very excited to enter a halving where prices don't go down before the halving, but rather prices go up, so everyone gets the most out of it."

Thiel estimates that the break-even ratio will be around $46,000 per Bitcoin for Marathon to remain profitable after the halving.

*Not investment advice. #ContentStar# #HotTopicDiscussion#