You are viewing a single comment's thread from:

RE: Steemit Crypto Academy Contest / S15W1 : Steem & Halving bitcoin 2024

in SteemitCryptoAcademy9 months ago

Basically, when the reward for mining Bitcoin gets halved, it has a big impact on the whole cryptocurrency world. It's like a supply and demand thing. With less Bitcoin being mined, there's less of it available, which makes people want it more because it becomes scarce. And when something is in high demand, the price usually goes up.

But here's the thing, the effects of the halving won't happen right away. It takes time for the market to adjust and for people to react. So, investors need to be patient and not rush into decisions based on immediate expectations of price increases.

It's also important to look at historical data and understand the fundamental aspects of the halving before making any decisions. And remember, the relationship between Bitcoin and other cryptocurrencies, like Steem, can have some benefits too.

Thanks for sharing this with me, and I wish you lots of success with the halving too. Sending you a big hug.

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.030
BTC 64778.13
ETH 2531.77
USDT 1.00
SBD 2.68