Steemit Crypto Academy Contest / S15W1 -Steem & Halving Bitcoin 2024
Greetings to the community of crypto academy and welcome to my post. This is a thing of my honor to take a part in this community and engaging with you guys. Also very excited to talk about the bitcoin halving which is ready to occur in some months. This is really a great and beneficiary event for those who working on the mining of the bitcoin for a long while. There are many aspects related to the future of BTC which indicates about its analysis on positive or negative behavior. So in this post we will talk about the halving of BTC, investor's interest in investment and the Future of BTC and Steem Here. So I would like to invite @steemdoctor1 , @artist1111 and @danish578 to read my Post and also make the challenge post in crypto Academy.
The mining reward is cut half every four years to maintain the scarcity to overcome the inflation. The halving of BTC 2024 will occurs between 17th April to 19th April after 113 days According to my research from different cites.This halving and mining happens in the form of blocks, in every four years 210,000 Blocks happens in the mining of Bitcoin. As we know that the initial reward for one block is 50 BTC , now the reward for one block is approximately is 6.25 BTCper Block and if we talk about the next halving the reward for mining will be cut half and remain 3.125 BTC per Block. This is because to lower the rate of bitcoin generation. So without wasting time lets start the question of this challenge.
The Bitcoin Halving will take place this April, which will happen on the 26th, and this has already seen the effects of huge profits for cryptocurrency investors. The available supply of fiat currencies increases and is monitored by National Central Banks, but the total supply of the Bitcoin is fixed and changeable. There will only be 21 Million Bitcoins. Currently, over 19 million bitcoins have already been mined, leaving less than 2 million to be created. The Bitcoin protocol periodically reduces the number of new coins mined by miners in a process known as halving.
Following are some impacts of which acts upon investors to invest in crypto Market after Halving.
Supply Scarcity
Reducing of the Bitcoin mining reward is a great reason which makes the Bitcoin unique and different from other cryptocurrencies. As we talk about it that the price of btc will drive up by the lesser supply of Bitcoin.Price Appreciation
The halving prefer and increase the demands of the coins. This increases the value and the crowd of investors towards the crypto especially bitcoin because the determine about the sustainability of the bitcoin and its future well.Market Confidence
A trader also wants the positive news in the market, some traders make trade at only events thats called Event Trading, this is because they have confidence on market on their research which makes the positive will power of the trader. The halving is also makes possible to build the positive confidence to the traders because the have knowledge about the market and believe that the market will be in the bearish.Long term Investment dissertation
The halving of BTC reinforce the traders for Long-term investment in the cryptocurrencies. Its diminishing supply over time does much to increase its value and market power. Along with this, traders come to the market and invest in many cryptocurrencies in search of profitable coins.Physiological Impact
Security of Network
As a Steem is also a crypto currency, the increase the value and demand of Bitcoin according to the halving of bitcoins makes a great revolution in the price of the SBD and Steem Token. As we see the price of Steem in 2020 a pump in steem Token this time we will also find a bigger pump then previous pump. So the halving brings positive change in the value and trading of Steem Token also.
Previous 3 Halvings
These are some screenshots of the BTC Halving dates of 2012, 2016 and 2020.
Finally, a Bitcoin halving presents a narrative of scarcity, potential price increases, increased confidence, and long-term value reinforcement, making it an event of considerable interest and potential benefit to investors.
The Halving of Bitcoin will have profound implications for cryptocurrency demand and supply, which we discuss below and we will also look at the valuation of Steem.
Scarcity of Supply, Increase demand and impact on STEEM Token
A bitcoin halving usually reduces the rate at which new bitcoins are created, which affects its supply. Value May Increase As far as Steem is concerned, it is a distinct cryptocurrency and its value is affected by various factors including market sentiment and its unique features as follows.
The increased focus on the broader cryptocurrency market in the context of paying Bitcoin may influence investor interest in various tokens, including Steem, so we can analyze specific impacts on Steem based on its individual fundamentals and its ecosystem. Keep in mind that the crypto market is complex and various factors can contribute to price movements.
STEEM has a secure network based on decentralization, its very easy to attract the interest of investors towards steem token. Its burning compaign of @null account is working on its peak.Decentralization secure network
The Steemit is a decentralized network based platform which is very trusted as we know well about its secure policy. Steemit is decentralized nature increases transparency and reduces the risk of centralized control fostering a community driven environment. Users appreciate the platforms commitment to data integrity and privacy. With its decentralized model Steemit empowers users to participate in content creation curation and governance. Its emphasis on trust and security distinguishes Steemit in the decentralized landscape attracting those seeking a dependable and transparent platform for social networking and content sharing.
The content based reward system on the STEEM blockchain serves as a distinctive feature setting it apart from traditional models. In a positive shift evocative of the Bitcoin halving the STEEM experiences changes influencing its dynamics. Unlike Bitcoin halving the STEEM undergoes a token burnout process which reducing the token force to scarcity and implicit value appreciation. This strategic burnout enhances the profitable place of the STEEM token. Every user following this method now a days and make sure to give 25% to null for betterment of STEEM.
STEEM unique approach extends to staking wherein users lock up their tokens contributing to the club status which confirm the Vote ratio for better status in this steemit system. The limited supply of STEEM tokens promotes a sense of exclusivity often translating into increased demand.
All these elements seamlessly integrate into the functionality of the Steemit website. Users laboriously engage in content creation curation and staking the positive changes within the Steem ecosystem. The content driven reward model aligns incentives making Steemit a dynamic and participatory platform. Its engagement programs are very useful to promote the STEEM token because its first rule to obey and contribute to any Club for holding of STEEM token and then also burnout of STEEM to set beneficiary to null which is almost 25% make sure for more attraction from curators.
Investors seeking profitable trades can glean insights from former BTC halvings to inform their strategies. Post-halving, BTC has often witnessed increased attention, leading to implicit price rallies. Observing these trends can guide investors in making informed decisions. As the 2024 BTC halving approaches, literal patterns suggest heightened market activity, providing opportunities for strategic trades.
Given the interconnectivity in the crypto space it makes sense for investors to monitor BTC trends when evaluating the STEEM commemorative. former BTC halvings have triggered broader request movements influencing altcoins like STEEM. Aligning trades with BTC trends can be a prudent strategy especially when anticipating market shifts.
Analyzing the chart patterns of the STEEM token in relation to BTC former halvings is pivotal. Investors should look for correlations in price movements considering implicit bull markets or corrections. A comprehensive understanding of how STEEM responds to BTC halving both historically and in the aftermath of the 2024 event, can guide investors in making profitable decisions. This strategic approach combining insights from BTC halvings and monitoring STEEM chart patterns positions investors to navigate the dynamic crypto landscape and capitalize on trading opportunities.
I have written all this information as part of my research which I have seen and learned from the article written in Crypto Academy and also researched from some websites and I have done my research and have come up with this has been presented to you. This is my first post in cryptoacademy and I have no idea to write .I am waiting for your reply at my post. Please ignore my mistakes and appreciate my effort.
I like to invite @steemdoctor1 , @artist1111 and @ashkhan to take part in this challenge.
Just as our dead professor have told you You did so very well but yet we need more markdowns techniques that could help your post look very organized and help with us easily find very important data or informations that could be needed in the article.
In a nutshell I would say you did excellently and I believe there is a home for an upgrade.Thank you very much for sharing, please you can check my own entry here
wishing you success
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
You are right with the statement above. Scarcity is the purpose of halving Bitcoin so price will become more valuable. Success to you.
Thank a lot for replying to my post. 😊
El halving del Bitcoin generará la escasez, posibles aumentos de precios, aumento de la confianza y reforzamiento del valor a larga plazo. Esa conclusión es correcta y la comparto.
Gracias por compartir, saludos y éxito.
Thank you so much for replying to my post.
You have write very well my friend and try to cover each aspect of the questions.
You make really good conclusion to the point and easy to understand.
Best of luck for the contest
Thanks a lot for your appreciation.
💞💞💞
So, when Bitcoin's halving happens, it's like this special event that occurs in the Bitcoin system. What happens during the halving is that the rewards for people who mine Bitcoin get reduced. It's kinda like if you were getting a big bag of candy for doing a certain task, and then suddenly you start getting a smaller bag of candy for the same task.
Now, this reduction in rewards makes people think that there's not gonna be as much Bitcoin available in the future. And you know what happens when something becomes more scarce, it becomes more valuable. So, some people believe that the halving could cause the price of Bitcoin to go up because there's gonna be less of it out there.
This price increase might not happen right away. It could take some time for the market to adjust and for people to really feel the impact of the halving. It is more like when you drop a pebble into a pond, you don't see the ripples right away, but eventually, they spread out and affect the whole pond.
And speaking of impact, the way Bitcoin is managed and how people react to the halving is gonna be super important. If people get all excited and start buying more Bitcoin, it could create this positive vibe and reinforce the long-term value of Bitcoin. But if people get worried or start selling off their Bitcoin, it could have the opposite effect.
So, it's not just about the halving itself, but also about how people perceive it and what they do afterwards. It's kinda like if you have a cool gadget, but you don't take care of it or use it properly, it's not gonna work as well or last as long.
Oh really impressive comment brother. And also thanks for your guidance toward me and I am really excited to see your post is and I am also wanted to follow you for see your posts.
You have tried your best to share your analysis that how these kind of events seek the attention in a positive way of investors and when more and more investors come and attract towards a particular crypto currency than it course pump and increase in the price of particular cryptocurrency. It is important event for increasing the price of steem but we should always keep in mind that by maintaining good activities at the platform we can also attract more investors and by the introduction of new and some unique projects at the platform so there is also need to focus on on these matters rather than relaying upon some external help.
You said well and I am really love your comment. Thanks for your appreciation because I am new here and I don't know how to write the post here I'm also following some persons like you and as ideal for me to write the post.
No problem 😃
You can take guidance from anyone here.
You would enjoy your journey at the platform Inshallah