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RE: Steemit Crypto Academy Contest / S12W2 -: STEEM Vs Bitcoin halving

in SteemitCryptoAcademy10 months ago

Hi @sahmie,

Historically, it has been recorded that the halving of Bitcoin rewards is greeted with a bullish run among most cryptocurrencies.

Yes we saw in the past that when the halving occurred it took the price of the cryptocurrencies in the upward direction. Because halving reduce the supply and increase demand which leads BTC into an upward trend, as BTC is the king of the market we see an upward trend due to it in other cryptos.

Since the halving process reduces miners' rewards, it can lead to a decline in the hash rate as slower miners shut down operations.

Yes you are totally right because when the reward reduces the small miners find it harder to compete with the big miners that is why they left the mining and the big miners takes advantage of it. It also makes the mining centralized because the large miners can take advantage.

You attempted all the questions in a good way and I get a lot of knowledge from your this post. Thank you so much for sharing this informative article with us and I wish you all the best in this competition. Best of luck my friend.

Good morning from Pakistan ❤️

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I am more than happy to hear that, I've helped impacted positively on your knowledge based on the topic at hand. Thank you for this heartfelt remark.

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