What effect can an increase or decrease in miners’ income have on the price of bitcoin?
as you know Bitcoin network is of mining type and the miners who operate in this network have an income for their activity that miners’ income is divided into two general parts.
The first is the transaction fee that is happening on the network and the second one, which is very significant income, is a block reward that is paid for each block in the network, this blockreward changes every few years on the Bitcoin network Which is called Halving. The last halving that happened on the Bitcoin network was in 2020, as a result, the network block reward reached 6 and 25 bitcoin units. It means that if a group of miners want to mine a block on the network or add it to the network, they will receive 6 and 25 units of bitcoins in return.
If we consider a timerate of ten minutes for mining new blocks in the network, about 900 bitcoin units are being created in the network daily. If we go to a site like BTC.com, We see the details of the transactions as well as the blocks that have been added to the network, and we find out how much of this blockrewad each of the miners has earned.
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