A Look at the Bitcoin Halving Day and Its Impact on the Global Crypto Ecosystem

2022 is the year when the crypto market is in a bearish phase. When viewed historically, a bearish year occurs after Bitcoin experiences an all time high and occurs every four years.

Like this year, bearish years have occurred in 2018 and 2014.

For potential crypto investors who want to invest in crypto, it is important to know the terms in crypto that affect the decline and increase in crypto prices, one of which is Bitcoin Halving Day.

Bitcoin Halving Day is an event every four years where the prize for Bitcoin miners will be halved every 210 thousand blocks that occur until the maximum Bitcoin capacity limit is reached, which is 21 million Bitcoin.

Indodax CEO Oscar Darmawan said that Bitcoin Halving Day will affect the price of Bitcoin to increase later because as time goes on, Bitcoin mining transactions will become increasingly difficult to obtain.

“Currently, there are around 91% of Bitcoin spread throughout the world with a total of around 19 million pieces. There is a halving to reduce the speed of adding new Bitcoins and so that BTC in circulation is maintained so as to avoid inflation. The more difficult Bitcoin is to get, the more expensive also the price of Bitcoin later,” explained Oscar in a press release, Friday (9/12).

Oscar also added, apart from influencing traders regarding the price of Bitcoin which would be expensive and being one of the factors that influenced the bull run in bitcoin and crypto, the bitcoin halving day certainly affected Bitcoin miners.

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