Steemit Crypto Academy Contest / S12W2 -: STEEM Vs Bitcoin halving
Bitcoin halving could be something that can affect cryptocurrencies to a greater extent. Because when Bitcoin halving occurs then it means that number of new bitcoins that are being created are reduced by half and Bitcoin halving happens after every four years.
When Bitcoin halving occurs then it cause decrease in its supply and supply becomes more scarcer when few bitcoins enter into market. It cause a sense of increase value and demand for Bitcoin and there are also some of the investors or people who believe that if supply of Bitcoin reduce then it can drive up the price of Bitcoin with the passage of time.
When supply of particular asset decreases then demand of that particular assets increases then definitely price tends to rise. Due to this result and due to this reasons that are many investors and traders who believe that Bitcoin halving is a best way of bullish trend in market.
Crypto market is highly complex volatile because it is influenced by several factor there is no a single factor that involved behind it so we can say that if we talk about past then halving always cause price increase but we cannot guarantee the same outcome for future.
There are different factors involved due to which market is driven:
- Investors sentiment
- Technological advancements
- Market speculation
- Macroeconomic events
Due to Bitcoin price movements definitely other cryptocurrencies also open experience a reasonable effect and some level of influence and if Bitcoin becomes dominant in market then it means that and set the tone for brother market sentiment that's why halving plays a great role in overall market sentiment.
Halving effects would appear immediately it's not necessary because price movement in market could be volatile and could be unpredictable so it's time take sometime for market to fully absorb and then to show the impact of halving on other cryptocurrencies. It is much important to approach cryptocurrency investments with certain precautions and before making any decision research is important.
Bitcoin halving cause sentimentation in crypto market because new users get attracted for buying Bitcoin and for that reason it creates FOMO and in this way people buy and hold Bitcoin.
It would be very interesting for me to show that what was the effect of latest bitcoin halving on the price of steem.
Bitcoin halving like events can affect greatly the Crypto market including altcoins like STEEM. But it is also important to not that at that time price of STEEM was also influenced by many other factors not by just due to Bitcoin halving.
If I talk about most latest and recent Bitcoin halving event then it has been occurred in the month of May and in year 2020 and at that time price of steem also experienced sum of the fluctuations.Trading activities also seems to be increase in the weeks leading up to the halving because there was a sense of excitement in market.
In latest BTC halving on 11 May 2020 miners starts their earnings of 6.2 BTC for 1 mined block and before some months there was price movements in market which was in pump but very soon after red signal in market price also goes towards dump and decline which disturb Crypto world.After 100 days of BTC halving still it have effects on crypto market.
Just after halving there was a very minor level of increase in the price of steem but overall market sentiment was positive and there was a minor level increase because its price was also influenced by market demand investor sentiment as well as overall market conditions.
During Bitcoin halving in 2020 then there was no much reasonable difference in steem price but with overall market there was also some minor difference in steem rate but that difference in steem rate was not exactly other cryptocurrencies in market and these difference can be seen through this screenshot I have provided.
In screenshot you can also see different green candles that are showing the effect of Bitcoin halving in 2020 as I have also marked the effect with green arrow moving in upward direction.
It's very tough really to predict cryptocurrencies because they are really very volatile and uncertain but we can't say that it's impossible to predict them.Yes it's possible to predict them by using different tools.Technical analysis is a tool one of them and I am using this tool for my predictions here.
On the basis of technical analysis,my predictions are that price of steem would affect a lot in future after bitcoin halving so let's hope for the best 👍....
In addition I have also shown price tracking in screenshot that how it can move according to my predictions but already I am saying that it's not confirm just my predictions.
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Let's talk about the advantages and disadvantages of Bitcoin halving for the cryptocurrency world.
Bitcoin halving cause decrease in the supply of Bitcoin and in this way scarcity sense increases which leads to increase demand of Bitcoin in market and hence price of Bitcoin increase in this way and for all holders and investors it could be very advantageous.
Bitcoin halving is designed for the control of inflation because in this time period it decrease the rate of which coins that are created newly that's why there could be a limited supply of 21 million bitcoins which ensures that bitcoins that are creative newly are slowing down with the passage of time gradually and in this way it maintain value and limit excessive inflation.
Due to Bitcoin halving more investors and traders also attract towards Bitcoin and it cause increase in awareness in Crypto world as a whole which leads to more influx of investors and participants in market and trading volume and liquidity also increase in this way.
How much there would be profit in Bitcoin mining it could be link with Bitcoin halving potentially. There are minors for validation of different transactions who received their rewards in the form of newly created bitcoins so when block reward becomes half then minors earn less Bitcoin for their efforts which is disadvantage for them.
Bitcoin halving can cause increase in volatility in crypto market and increase uncertainty is level due to price fluctuations significantly before during and after the Bitcoin halving event. Traders and investors who prefer stable market considered this condition very challenging which is a drawback of Bitcoin halving.
Bitcoin halving events could be exploited by manipulators and in this way market becomes more susceptible to manipulation because different groups or individuals take advantage of this hype so it's very important for all investors to adopt certain precautions to be aware of market manipulators especially in such events.
Bitcoin halving effects Bitcoin but on other cryptocurrencies like altcoins it offence follows Bitcoin price movements and market sentiment and if Bitcoin halving cause bullish trend in market then it impact the Crypto market in Broad way.This situation becomes disadvantageous for altcoins investors and traders especially.
Halving... Okay, I've learned a lot from your post.
I am just so worried that with every halving of bitcoin, the price will simply become less, leaving us with nothing in the end.
I suppose we can only wait to see what happens next year, as it is the fourth year.
Good luck with the contest, and thank you for the invitation.
@graceleon
Yes it's BTC halving 😀
Thanks god and its my happiness that you learnt a lot from my content and you don't need to be worry about price of cryptocurrency after this event as it is going to be happen again in 2024 as it is 4th year
Thank you for wishing me good luck for this contest and I was excited for your participation and I would visit your entry to if you would participate
Pleasure!☕
Sorry, I run out of time and could not get to this contest.
Saludos gran amigo khursheedanwar.
Una buena participación para explicarnos el halving del BTC y como este evento programado genera un movimiento en el mercado.
Te deseo suerte, feliz y bendecido día.
Thank you so much friend for stopping by on my post and I am happy that you like my content as well as I must want to say that Bitcoin halving event is really important and interesting but on the other hand it is also something which create curiosity in Crypto market because everyone thinks that what will happen after that event so let's wait and watch that was actually happens
I visited your entry which was well presented and one of the most informative entries so I am again wishing you success in this engagement
Regards my friend.
Bitcoin is what moves the cryptocurrency market and we hope that steem will rise next year when there is a reduction in this large amount.
It has its advantages and disadvantages but I know that it will not always be the same, there is hope that Steem will reach at least $1 since we have supported it with clubs and token burning.
You have to learn these topics that are trending day by day. Thanks for participating and sharing.
Thank you so much friend for your beautiful comment on my post and giving your precious time to me and two reading my article that I have shared for increasing all of your knowledge
__
If I talk about price of steem then I totally agree with you that it is expected to cross $1 but in a case if every prediction remains same then there are 98% chances of it according to me so let's see that what happens actually at the last year but we should always hope for best
We all are supporting steem by setting 25% to null as well as by joining different clubs and hopefully there would be a one day which is very closer act which we will see steem at high rate
__
Good luck to you
Uno de los grandes beneficios del halving es incentivar la inversión a largo plazo, es la oportunidad abierta para un período de cambios y consolidación.
Saludos y éxitos.
Thank you for your comment and I am happy to see you here that you visited my entry to and consider my post valuable
BTC halving really provides a great opportunity and opens the door of different advantageous for everyone so it is one of the most good event according to me and I am anxiously waiting for next event which is going to be occurred in 2024 so let's hope for best and I wish you success again
Gracias amigo por participar con tu comentario que aprecio mucho.
Saludos y feliz día.
your welcome and it is a kind of happiness for me if you really appreciating my comment then there is nothing more fruitful for me about it
I again want to wish you success and good luck and I also want to say happy day to you
Greetings friend,
Bitcoin is the dominant cryptocurrency in the crypto market, a change in its tokenomics will rub off on the less dominant ones. Hence, a positive change will most likely mean a positive change for all the rest tokens except the stable coins which a pegged to fiat values.
Hence, I am also of the opinion like you that the price of STEEM will be positively affected like the last halving process as you've rightly explained to us. Thank you for this knowledge shared with us.
Thank you so much friend for stopping by my post and I agree that Bitcoin is most dominant cryptography in whole market and it is at first number that's why any change and variations in its price also affect other currencies
I agree with you that in 2024 we will see an increase in the price of Bitcoin and most particularly we will also see in the price of steem token as a result of increase in Bitcoin price and decrease in its supply and increase in its demand
I also mistake if your entry in which you fully explain your knowledge in right way so I wish to success again and thanks for giving an extensive comment on my entry also
Hi @khursheedanwar,
Bhai jan sab se pehly btay k apka kia hall chall ha, me umeed karta hun k ap khiriyat se hongy. Har bar ki tarah is bar b apny kafi achi information share ki ha joky kafi useful ha. Apny btaya k Bitcoin halving kia ha or apny ek bht hi achy andaz me explain kia.
Apny ye b btaya k jab last dafa 2020 me halving huii thi to Steem ki price kis tarah upper gai thi joky thek ha kunky mene b dekha tha or ham ek badi wick dekh sakty hain. Analysis me thora mehnat karny ki zrurat ha.
Apny bht hi achy tareeqy se faidy or nuqsan b btay or mje kafi information mili. Is se muje ye b pata chala k is se market me investors ka rujhan b barta ha.
Last par me yehi kahu ga k ap bht acha kam kar rahy ho or is kam ko jari rakho ek din ap zroor kamyab hogay. Pakistan se mehanati log dekh kar dil khush hota. Lagy raho bhai. Khuda kamyab kary.
Best of luck 🤞
Hola amigo 👋
Es curioso que hasta en los eventos más atractivos podemos encontrar desventajas, espero que las buenas predicciones en cuanto al futuro del steem se hagan realidad.
En el pasado han pasado cosas buenas esperemos que se repitan y que esta vez duren más tiempo .
Es cierto es muy difícil predecir un precio exacto a futuro pero si podemos obtener una buena guía gracias a los analisis técnicos .
Mucho éxito en tu participación
Hello dear
Yes you are right that we can find Bitcoin halving event disadvantageous also sometimes in some cases as I have also describe some of the cases and secondly I'm hopeful that my prediction is about future would come true and would be at least nearer to what I say today in my predictions
In future there would be long lasting effect of this event because in past there was not a huge impact on steem but this time we can hope for it according to predictions
Yes it is very difficult to predict cryptocurrencies as they are very volatile but still we can have good guidance from technical analysis if we are doing them with right tools in right way
Assalamu alaikum
Kaise hain aap main umeer Karti hun ki aap bilkul theek honge. Main aapki participation dekh Kar bahut khush hun kyunki aapane hamesha ki Tarah isko bahut acchi tarike se nibhaya hai aur har question ko bahut acchi tarike se explain karne ki koshish ki hai Lekin technical analysis mein agar aap thodi si aur theory likh dete to aapke liye jyada achcha ho jata lekin fir bhi aapke content mein Kahin bhi Koi problem nahin hai aur har chij perfect lag rahi hai.
Agar main aapke first question ke answer ki baat Karun to main aapki sari baton se To baat Karti hun ki yah event vakai mein Miner ke reward ko half kar deta hai aur unko cut kar deta hai iske alava is event ka dusri currency per bahut jyada effect hota hai kyunki self top cripto currency hai To agar is per positive effect hoga to Baki currency per bhi positive effect aaega aur agar is per negative effect aaega aur ine sab chijon ke bahut jyada chances hote Hain.
Main aapke participation dekh Kar bahut khush hun aur main aapke kam abhi ke liye hamesha Dua Karti hun aur aaj bhi Dua Karti Hun ki Allah ko bahut jyada kamyab kare.
Wasalam
Update extensive commentary mujhe bahut jyada Khush Kiya hai aur Main aapka comment dekhkar bahut khush hua hun kyunki aapane mere content ki bahut jyada tarif ki hai aur isase jyada aap Badi baat mere liye koi nahin hai ki agar ek person mujhe encourage kar raha hai to iska matlab hai ki usko Mere har point ki samajh a gai hai aur yahi mera post karne ka maksad tha ki main dusron tak Apna knowledge pahuncha sakun
Aapane first question ko bahut acchi Tarah se pic kiya hai aur Maine ismein yahi batana ki koshish ki hai ki agar ek miner ek block per jitne bhi Bitcoin and kar raha hai to jab yah event hoga to use time per usko uska half milega yahi vajah hai ki miners isko ek nuksan samajhte Hain kyunki Unka reward half ho jata hai
Main aapki entry ko bhi bahut jaldi visit karne ki koshish karunga aur mujhe ummid hai ki aapane har bar ki Tarah bahut achcha explain Kiya Hoga aur main aapka bahut jyada shukar gujar Hun ki aapane Apna kimati waqt mujhe Diya aur meri post per comment Kiya aur main aapki baat se agri karta hun ki mujhe second aur third question specially 2rd question mein kuchh aur theory likhni chahie thi lekin overall Maine is post ko banane mein bahut jyada mehnat ki hai
Aapka itna extensive comment dekhkar bahut Khushi Hui aur mujhe Khushi hui ki aapane Meri har baat ko pic Kiya hai aur aapane bhi mahsus Kiya ki aapke third question mein theory ki kami Thi lekin overall Maine aapki post ki bahut tarif ki hai kyunki yah vakai bahut kabile tarif hai jismein aapane bahut jyada effort putki hai jo ki main dekh sakti hun.
Main apki kamyabi ke liye hamesha Dua godun.
CONGRATULATION...
This post has been upvoted through steemcurator08
Team 5: Curation Guidelines & Basics for September
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