Although the new bull cycle will have its own characteristics, one aspect will remain unchanged: bitcoin will be the growth engine for the entire cryptocurrency market. Both supply and demand factors will play an important role in driving the positive dynamics of this asset. In particular, Halving will reduce the reward for mining a block from 6.25 BTC to 3.125 BTC in April. Given that miners are at times forced to sell some coins to cover operating expenses, the reduction in the volume of coins coming from them will be significant. The average cost of mining one BTC is currently $33,300 (roughly equal to its market price). After halving, it will double to $66,600. Of course, the price of bitcoin will not double immediately after this event, but historical data suggests that miners will have to return to profit within a year.