With the Bitcoin halving set to transpire in just a few days, analysts are predicting significant disruptions to mining operations.
With Bitcoin (BTC) block rewards expected to halve during the early hours of May 12, many analysts are starting to weigh in on what the event will mean for the crypto markets and mining community.
Cointelegraph spoke to three analysts to get their unique takes on whether the halving is likely to comprise a “healthy rebalance”, or a catalyst for migrating hash power and rising fees.
Analysts discuss impacts of halving on miners
Johnson Xu, the chief analyst at TokenInsight, predicts the halving will have a significant impact on miners.
“A large percentage of older generation miners such as S9s will be shut down in the short term, and phase-out from the network permanently in a few months post-halving,” Ji stated.
“The bitcoin halving will result in the network in short term chaos, however, once the difficulty adjustment kicks in and self-adjust to an equilibrium state, we will see the bitcoin network back to a stable position quickly.