Steemit Crypto Academy Contest / S15W1 -Steem & Halving Bitcoin 2024 .

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It's no news in the Crypto ecosystem that the bitcoin halving year is actually going to commence this year although the month isn't fixed but there's a prediction that it will happen around April this year. Bitcoin halving is actually a process that reduces the rewards giver to miners for adding them to the blockchain after confirmation of transactions.

It is an innovative to manage the creation of New bitcoins and maintain scarcity of the asset which contributes to its value. Bitcoin halving occurs every four years in the crypto ecosystem and is best explained by the market cycle in crypto which has the following cycles.

• Bear market
• Accumulation year
• Bitcoin Halving
• Bull year

The bitcoin halving is programmed to influence the cryptocurrency market and the impact would be great as it would influence Investor's perceptions and other crypto currency price.

Pexel

The bitcoin halving happening in April, 2024 will influence Investor's general perception of cryptocurrencies positively. If I can recall some months or years back during the bear market, those who got into crypto newly regretted ever doing so. They felt crypto is a scam because of the money lost. Most of them feel some coins don't have future especially when bitcoin reduced to $14k.

Investors might see cryptocurrencies as a safe haven to invest as they'll consider it a valuable item. This halving will change their perceptions in the following ways.

• It makes bitcoin special as bitcoin will skyrocket to a price that's unbeatable making it scarce. The bitcoin halving will also reduce the rate of new bitcoins created decreasing the supply available in the market. Investors may perceive the scarcity of bitcoin then will make the coin value and good to invest which increases their interest cryptocurrencies.

• Market sentiments are expected to be the major Impact as this halving usually generate speculations in the crypto ecosystem. The positive outcome of the halving will bring about increased interest and sense of excitement mostly by crypto traders.

• Bitcoin becomes a trendsetter and influence how other cryptocurrencies are perceived as the increase will bring about a pump in most crypto assets like steem. The halving also builds this long-term confidence in the crypto ecosystem following the nature of events that happens then.

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These factor will influence people's view of the crypto ecosystem, not as a scam pack but an evolution in digital assets which influences adoption as well. Now concerning steem token speaking from last bitcoin halving, the price of Steem rose greater causing a havoc among people who had the perception that the coin would grow as well as other coins.

Steemians were overjoyed with the increased rate which also affected the platform in terms of sbd. So this year's Bitcoin halving I'll surely Increase the price of Steem from 300 naira as it is to 700 naira plus. i.e from $0.23 to $0.6 +.

I mentioned these earlier but I'll still outline them in details. The adjustments in supply and demand dynamics of cryptocurrencies includes;

• Deduction in supply and increased demand for bitcoin following the scarcity of bitcoin as its value will speak wealth. Investors will be more interested in the broader market and will do much of demands and buying since the halving will change the values of these coins. This will increase the demand of steems and would be wanted by most investors.

• Bitcoin halving will create an adjustment from the **bearish trend to all green bullish trend in the market, leading to increased speculation as investors would be expecting higher prices i.e the price of Bitcoin will surpass its price at last bull. The market would be all green.

screenshot from my coinmarketcap account

• The having beings about reinforcement in the security and decentralisation sector. It boosts confidence in the crypto market and they'll be increased demand and valuation in steem token.

• The halving also provide a stable environment for all digital assets of which steems is included which attracts institutional investors and pave way for massive adoption.

The steem token as we all know has this one most important characteristic which is a contebt-based reward system within the steem blockchain. Considering its macroeconomic changes following the halving, let's know that the Halving reduces by half, the rewards miners receive for transaction validation.

The contebt-based reward system on which steem blockchain operate is steemit and users are rewarded with steem token when they create valuable contents that are quality enough. . When halving occurs, there'll be an increased activity on the platform as people would be actively creating contents so as to get these free steem token which would be worth a fortune in the halving.

The value of steems being influenced by Market dynamics might experience volatility which is a swing during these macroeconomic period shifts. So understanding this market dynamics can help us navigate the evolving landscape of crypto investments and active participation in the platform. Those who powered down will surely return back active.

To every investor in the house, we have been sounding it as a reminder to buy low now that the Halving hasn't commenced. Some investors are actually doing so while others are waiting to see the pump before they start buying. During the halving before the bull year comes to stay, investors should guard against greed to as to avoid some minor or major Losses which may lead to panic selling. Taking profits is very essential for traders while the hold for days as it would be an uptrend then.

Screenshot from my coinmarketcap

Those who have steem token should try as much as possible to save their steems either in their wallet or exchange instead of selling it now. What do I mean. Imagine you're selling 500 steems now at the rate of $0.23. This will give you nothing less than $115 whereas if you're to sell it during the halving or bull run year which is months from now, you'll be in massive profits. Let's assume you hold till steem reaches $1 of which it's expected to. You'll have $500 compared to what you wanted to sell now.

Last bitcoin halving year, bitcoin price pumped from $35k to $52k** to be precise and steem rose as well making people selling at that rate. Some people question if steem would move in the bull year. The answer is that it will, this time, ×2 of what it did last time. So let's be holders and while holding, don't forget to take profits when it counts to avoid greed and losses.

In conclusion, we've seen what this halving would look like. To me I say it would be greens, a huge time for investors to maximize profits from the crypto market. While we anticipate the bitcoin halving year, let's have in mind that Steem would skyrocket this year till next depending. So during this period, we should maximise whatever potentials or assets owned. I invite @chukwu10, @alli001 and @kidi40

Disclaimer :Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have