Bitcoin halving may cause some miners to fold, say analysts

But most crypto players optimistic move will spark interest, lead to wider adoption

- Claire Huang

The upcoming halving of the supply of the world's most popular cryptocurrency may prompt the shuttering of some miners' businesses, market players said, with one analyst cautioning that the Bitcoin network's mass adoption has to fly for it to be sustainable.

Still, most market players expressed optimism that the halving, meant to control the digital currency's supply and support its value, will lead to more interest in the cryptocurrency and lead to wider adoption.

The views come as the halving, which happens every four years and reduces the amount of new bitcoins issued into the blockchain network, is widely expected on April 20.

Mr Andrew O'Neill, managing director and co-chair of S&P Global's digital assets research lab, said in a note issued on April 15 that some

Bitcoin miners' operations, especially those with higher energy costs, will become non-profitable and will shut down as a result of the halving.