Bitcoin (BTC) Miners Need a $98K BTC by 2024 to Keep Afloat

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Crypto Thunderstorm Warning: A $100K BTC Needed for Business Survival

Well, get ready for some tea spilling, because this Bitcoin drama ain’t over yet. In the latest from the world of Bitcoin news, our publicly-listed Bitcoin miners are tightening their seat belts, with some serious skin in the game. They’re hoping for a BTC price above $98K by the 2024 halving, or else they’ll find themselves in a red sea.

Our beloved Bitcoin (BTC) may have stumbled from its highs, dipping below $30,000. But predictions of it touching a six-figure price by 2024 are surfacing like bubbles in a champagne flute. But here’s the kicker – a price north of $100,000 isn’t just a moonshot prediction. For our publicly-listed Bitcoin miners, it’s a lifeline for their business models to stay in the black.

Bitcoin Miners Outpacing BTC but Storm Clouds Loom

Public Bitcoin miners have been running the bulls this year, with their stocks galloping ahead of BTC. While our dear Bitcoin has been chilling and consolidating, the miner stocks have been partying, racking up nearly 100% in a matter of months. Seeking Alpha has thrown some light on this bullish run, with Riot Platforms being the man of the hour.

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Despite Riot’s plan to triple its mining capacity in 2024, the looming Bitcoin halving could be a wet blanket. A 50% slash in BTC block rewards? Ouch. That’s like halving the heart of their revenue source.

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Equity Shares Issuance – A Double-Edged Sword for Bitcoin Miners

Sure, Riot and their mining mates could issue new equity shares to keep the lights on. But that dilutes existing shares. Even with solid underlying fundamentals, the share price might struggle to keep up with the music. Combine that with the chance that some miners might already be overbought at current valuations, and the outlook for public Bitcoin mining stocks isn’t exactly rosy.

BTC Price Bump – A Miner’s Golden Ticket

Meanwhile, there’s chatter about a big bump in BTC prices. Miners would need this to keep their ledger in the green at today’s hash rate levels. How big are we talking? Well, Seeking Alpha suggests almost $100,000, just for miners to carry on with business as usual. This rings alarm bells for those hodling Bitcoin mining stocks, with the warning that it’s “extremely risky.” With the looming Bitcoin halving, current valuations may be more fiction than fact.

The 2024 Bitcoin Bull Run Prediction

On the brighter side, Matrixport has a delightful report titled “Prepare for the Soaring 2024 Year-End Bitcoin Target of $125,000”. They reckon BTC could climb to $45,000 by year-end and $125,000 by the end of 2024.

What’s their secret sauce? The Bitcoin price hitting a one-year high for the first time in a year. This signal’s been the starting whistle for a bull market party every time in the past. And if history’s our DJ, we might just be pre-gaming for a 2024 Bitcoin bull run with a price target of $125,000.

The Final Word: The Party Ain’t Started Yet

Now that’s a tune I wouldn’t mind dancing to. But remember, friends, the crypto market is as predictable as a dice roll. So, as we look ahead to the 2024 Bitcoin halving, let’s keep those champagne bottles on ice. The party ain’t started until the Bitcoin price hits the roof.


Please be advised that the contents of these posts are not to be construed as investment advice. While some of our contributors may be price analysts, their opinions and analyses are personal views and are shared with the intention of promoting discourse and understanding.

Always conduct your own research and consult with a professional financial advisor before making any investment decisions. The Bitcoin market can be volatile, and past performance is not indicative of future results. Invest at your own risk.

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