BTC halving and STEEM price relationship

Assalamualaikum

Greetings to you all!
Today I am going to discuss one of the most important event which is about to come and it is all about BTC halving event which is going to occur in the month of April.

Pexels

First let's talk about BTC halving event that what is this basically so this is a event that occurs after every four years. Last time BTC halving event occurred in 2020 so at that time other alt coins follows the same pattern so in the similar way I am expecting this time that BTC halving in 2024 is also going to follow the same pattern.

---

When during halving event miners that are responsible for solving the complex equations and computations cut down half of their rewards then it reduces the supply of these token ultimately from the market and in this way people get more attracted towards it because due to the reduction in supply scarcity in the market increase which boost up the demand of token.

---

If demand of any token is going to increase then it is definite that it means it's price is going to increase which act like a overall positive perceptions for investors because due to reduction in supply everyone tends to buy a particular token and increase in buying pressure further increase price of a particular token so when I talk about other tokens or coins that are under BTC then they also follows the same trend.

---

STEEM is one of the most decentralized social media based blockchain that definitely reward its users on the basis of quality content and on the basis of positive participation of users as well as when I talk about its relationship with BTC then I can say that BTC halving can increase its demand which ultimately pump the price and STEEM being an altcoin also would follow same trend.

---

When I talk about current changes I have observed in STEEM rate then we all have observed that due to bad market condition we have seen that SBD printing was not happening as debt ratio was not less than 10 but now as with the passage of time market is becoming stable around happening of this event so in the same way we have seen that how users are getting benefit of it and how SBD printing has started.

SBD is a standard and stable token that users receives as a reward so if these are available as a reward then it means that it is the indication of stability of the market.So currently we have observed that stability in overall market and after halving event steem price is going to rocking Inshallah.

That was brief about BTC halving relationship with STEEM price so that was all about my knowledge about this topic.Hope you all like it 💕

Have a blessed day