With the halving approaching, crypto analysts are bullish on BTC mining stocks

This article is brief:

• Analyst Jason A. Williams predicts a positive shift for BTC miners as the April 2024 halving approaches.

• Describing mining stocks as “easy wins,” Williams suggested a less brutal, more conducive environment for miners.

• Block fees are expected to exceed the block reward, marking a significant change in the experience for BTC holders.

With April 2024 approaching and the BTC halving approaching, an analyst is turning his attention to exploring its potential impact on the share price of BTC mining companies, with widespread speculation about cryptocurrency prices.

“Mining stocks seem to be an easy win,” he said. ”

Crypto analysts are optimistic about the outlook for BTC miners

According to crypto analyst Jason A. Williams, BTC holders can expect a completely different experience after the upcoming halving compared to previous cycles. Williams thinks this could bring about a turnaround and could be positive for BTC miners:

"The incident is not so complicated and not so ruthless to the inefficient miners. The collective fee equals or exceeds the collective reward. ”

However, Statista data as of November 2022 shows that BTC profit growth from mining has declined significantly over the years.

Daily mining profitability BTC between July 2015 and November 14, 2022.

Source: Statista

Previously, it was reported that BTC miners are stockpiling new mining rigs ahead of the halving in April 2024.

Investors pour millions of dollars into BTC mining rigs

On December 11, media reported that major cryptocurrency mining companies spent $747 million on facilities and equipment in December alone, ahead of next year’s BTC halving.

At the same time, some of the larger companies are looking at smaller companies and have the potential to acquire them. It is reported that Marathon Digital holds about $700 million for acquisitions.

Several crypto executives believe BTC could rise significantly in 2024. MicroStrategy Chairman and BTC maximalist Michael Saylor told CNBC in November.

“The price of BTC could go up 10 times, and one day, we’ll all brag about buying a five-figure BTC,” he added. ”