I basically participated because the contest allowed me to express my cryptocurrrency analytical skills🥰. The prize was just a compliment.
It is a daily contest where we discuss future price analysis of bitcoin as a result of halving.
My opinion was that bitcoin will not rise to $22,000 because of this halving. History is not necessarily an indication of what's going to happen in the future. It can make fast move on us.
I went ahead to let people know various ways that mining can still be profitable for miners. They will either cut cost on energy consumption and hardwares, or run at loss and become persistent.
Those who are persistent will gain later because some miners may be put out of business. If that's the case, the mining difficulty will be reduced, hence enough bitcoin will go round. Even with the current price, they will still be in profit.
Another option is to manipulate the price, but this is almost impossible, because only a few miners can stand as market makers.
This is the summary of the analysis that enabled me to win the JILT Token contest.
