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Why is Halving Day so special for Bitcoin investors ...?

Written By Hanny & Melissa on Wednesday, April 10, 2019 | Wednesday, April 10, 2019

https://www.economicfinancialpoliticalandhealth.com/2019/04/why-is-halving-day-so-special-for.html
Bitcoin investors are waiting for the arrival of Halving Day. Because, Halving Day is a moment for Bitcoin miners to gain cuan.

CEO Indodax Oscar Darmawan said on Halving Day, the reward per block will be reduced to half. This reduction occurs once every four years or every 210,000 blocks. "This reduction will have an impact on the provision of bitcoin as a whole so that bitcoin has the potential to become more expensive because it allows demand to exceed the existing supply on the market". He said Thursday (03/14/2019)

He added, the first Halving Day had been passed in 2012. Where 25 bitcoin per 10 minutes have been made by the bitcoin miner. And the second 2016 Halving Day produces 12.5 bitcoin/ 10 minutes.

From there, the rewards will decrease again to 6.25 bitcoin/ 10 minutes in 2020. "Therefore, if we assume that the demand is fixed or increased, the new supply circulating in the market will not be able to keep up with the demand so that prices can rise". Obviously Oscar

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Luno Indonesia's country head of growth Claristy added, bitcoin is a long-term asset or commodity to be collected by investors. He said the reason for choosing bitcoin is fluctuating prices and is now seen as an alternative asset for portfolio diversification. So besides investing in stocks, mutual funds or gold, bitcoin is one of the selected investors. The price tends to be stable, so there are still lots of holdings. But when the fluctuating price of the market will be busy choosing Bitcoin". Claristy said (Friday 3/15)

Claristy admitted, the reason for the market choosing Bitcoin is one of them is Halving Day which only happens once every four years. "Halving Day is indeed something that has been set in the bitcoin protocol to maintain the value of bitcoin itself. Imagine if bitcoin circulates in large quantities and short time or if the bitcoin inventory never stops then bitcoin will lose value". Call it Claristy

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According to Claristy, Halving Day which happened in 2016 helped increase the price of bitcoin until it reached the peak of December 2017. It's just that he cannot predict the price increase in 2020. He also does not recommend the right time for market participants to buy or sell bitcoin.

Because, for Claristy Bitcoin is still a cryptocurrency with the highest liquidity and market cap since its inception. At present, the price of bitcoin in trading reaches IDR 55.7 million with a market cap of US $ 68,872,600,200. "Looking at January 2017, the price of one bitcoin is around IDR 11.72 million, and currently touching the level of IDR 55.71 million. So you could say the price increase reached 3.75 or almost 4 times as much". Claristy said

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