Will Bitcoin Halving Cause Another BTC Price Overvaluation Cycle?

In fact, Bitcoin mining difficulty is currently at a historic high, with computing power expected to increase by more than 100% in 2023. CoinShares predicts that this difficulty will drop after the halving due to a “miner exodus.” The company also notes that given the complex interrelationships between hardware and electricity costs, difficulty, and the cost structure that determines whether a particular miner makes or loses money, the “average production cost per coin” could normalize to just below $38,000 after the halving. I said there is. Determines how many miners are on the network.