RE: Steemit Crypto Academy Contest / S12W2 -: STEEM Vs Bitcoin halving
Hi @mccoy02,
In general Bitcoin halving refers to a specific period of time (four years) when the rewards for mining bitcoin is reduced by half.
Very nice information, yes it takes place after every 4 years. The last halving occurred in may 2020 and I hope that the next halving will happen in 2024 which is very near and remember that it is an automatic process. Surely this havling reduces the supply which surely increases the demand.
Support altcoins: with bitcoin halving more altcoins tend to see a significant increase in price.
Yes this is because of the BTC as it is the king of the crypto market. When it goes up it takes other altcoins in the upward direction and when it come down it take other crypto in the lower direction. So if the price of BTC will increase it will surely take other into an upward trend.
Thank you so much for providing a very informative article to us. I hope that article will help others to know about halving information. The pros and cons are also good. Overall a good effort my dear friend. Good luck 🤞.
Good morning from Pakistan 🇵🇰❤️
Thanks for stopping by and sharing with me definitely bitcoin halving occur every four years and no doubt we will witness another one next year i believe this will trigger another bull market, sure there is always pros and cons to anything and this event of halving is not an exception.