JAKARTA - The year 2022 is a year in which the crypto market is in the bearish phase, a condition of a silent stock movement trend that tends to decline.
If you look at historically, according to Indodax, bearish years occur after Bitcoin experienced All Time High (ATH) and occurs every four years.
The term All Time High itself is concerned with the highest price a asset has achieved on the stock exchange, for the current referenced trading pair.
For potential crypto investors who want to invest, it is important to know the term in crypto that affects the decline and increase in crypto prices, one of which is Bitcoin Giving Day.
Bitcoin Haling Day is an event every four years, where the prizes for Bitcoin (block reward) miners will be divided into two every 210 thousand blocks.
According to Indodax CEO Oscar Darmawan, Bitcoin Haling Day will affect the increasing price of Bitcoin, because over time, Bitcoin mining transactions will be increasingly difficult to obtain.
"Currently, there are about 91 percent of Bitcoins spread throughout the world with a total of about 19 million copies. There is Halving to reduce the speed of adding new Bitcoins and so that the BTC in circulation is maintained so as to avoid inflation. The more difficult Bitcoin is obtained, the higher the price of Bitcoin will be, "explained Oscar, quoted on Sunday, December 11.
Oscar added, in addition to influencing traders regarding the price of Bitcoin which will be expensive, Bitcoin Halfing Day certainly affects Bitcoin miners or people or companies that process new coins and also validate for crypto transactions.
"Especially after Bitcoin and crypto are known to the public, the number of Bitcoin miners is increasing. The more Bitcoin miners, the more difficult it is for Bitcoin to get, while the supply of Bitcoin is decreasing," he concluded.
According to him, due to the increasing level of mining difficulties, small miners who do not have sophisticated tools will be less competitive with pro miners who already have more sophisticated tools.
"Because the prizes of Bitcoin miners are divided into two, in 2024 when Bitcoin Giving Day, the prizes for the miners will be reduced to 3.125 BTC," Oscar explained.
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