Kraken report: Bitcoin halving may cause mining industry to lose $3.1 billion

According to AMBCrypto, cryptocurrency trading platform Kraken released a latest report saying that if the price of Bitcoin hovers around $9,300 after the halving, the global mining industry will lose $3.1 billion in revenue after the halving.
The report analyzes historical Bitcoin halvings and makes a prediction for the halving in May this year. The report states that history shows that bull market trends occur around halvings, and the previous two halvings showed a two-year upward trend in Bitcoin prices starting 12-18 months before the halving, followed by a decline of about 80% from peak to trough.

Previously, Binance CEO Zhao Changpeng talked about this year's Bitcoin halving event and believed that the price of Bitcoin will continue to rise in the future. He said that historically, the halving of Bitcoin's block reward has had a positive impact on the price of the currency. One consequence of reducing Bitcoin's block reward is a lower inflation rate, which helps prices rise. The demand side is increasing, the supply side is decreasing, and the price is determined by demand, not production costs. But the price of Bitcoin will fluctuate around $10,000 for a period of time.