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#Will Bitcoin break the all-time-high price before the halving?
The price of bitcoin (BTC) reached USD 64,000 or around IDR 1 billion (assuming an exchange rate of IDR 15,721 per US dollar) on Wednesday, February 28, 2024, the first time BTC has reached that level since the last bull market peak in November 2021.
Bitcoin's rise is also set against the backdrop of an important event referred to as the bitcoin halving in April, an event that occurs about once every four years and is usually accompanied by a strong increase in the price of bitcoin.
The bitcoin halving is intended to ensure scarcity of BTC issuance over time. With the depletion of BTC being issued, Bitcoin's price has surged compared to previous halvings that occurred in 2020, 2016, and 2012.