Kraken report: Halving Bitcoin could cost global mining industry $ 3.1 billion in annual revenue

Cryptocurrency exchange Kraken's latest report analyzes previous Bitcoin halvings and proposes a forecast for Bitcoin halvings in 2020. History shows that bull market trends occur around halving. The previous two halvings show a two-year upward trend in the price of Bitcoin from the 12-18 months before the halving, followed by a downward trend of about 80% from peak to trough. The report also estimates that due to a 50% reduction in supply, global mining will lose $ 3.1 billion in annual revenue after halving, provided that the price of bitcoin continues to hover around $ 9300, and annual supply inflation will be reduced after the halving in May From 3.7% to 1.8%.