Fundamental analysis about STEEM price in 2024 after BTC halving

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Today my topic to discuss is about fundamental analysis about STEEM future price especially in 2024 after the event of BTC halving. I would make each and everything clear for all of you.

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If I talk about predicting price of any cryptocurrency whether it is STEEM any other currency exact prediction is very challenging and is not possible because there are many factors which are multiple in their numbers which can impact price of particular cryptocurrency and it all depends upon market dynamics which are quite fluctuating also so I am not talking about price of STEEM generally and as I am talking about its price in 2024 after event of Bitcoin halving so there are some of the most important points that we should give in mind before moving towards actual fundamental analysis.

BTC halving is one of the most interesting event of burning 50% of earnings of miners when they mine newly created tokens then half from the rewards cut off from the supply and in this way it leads to increase in its demand that cause an overall pump and according to the sentiment that I have observed in different social media platform is this that there is a great hype that in this year there is largest historical pump expected.

BTC halving is one of the most interesting event that is written in the white paper and according to it occurs after every four years and major purpose behind this event to control inflation rate of Bitcoin and to maintain its scarcity and always around happening of this event it always seek the attention and interest of traders and users in a positive way. Not only this with the increase and pump in the price of Bitcoin other alternative coins also move in the same direction so in this way Bull cycle starts.As steem is also altcoin so it would also follows the same trend in this way.

There is one significant effect of this event and it is the increase of the overall sentiment of market and demand for all cryptocurrencies and in this way steem would also follow the same trend in this year after the happening of this event as well as it would also lead to increase adoption of this token in the over all market because when more and more people would enter into the market then demand of this token would increase and automatically with the suppression of supply and increase in the demand its price would increase.

When I talk about mining dynamics then they are also greatly influenced by this event and you all know that in security and validation of transactions that blockchain miners have their significant role so with this event it reduce block rewards for miners so in this way mining profit decrease for miners as well as with this result for preventing their self from preventing losses miners always try to shift their attention to other alternative tokens also like Steem. So in this way is a great way of increasing security and scarcity and in return it is a source of attracting more and more investors also.

When I talk about fundamental analysis of this token then we should not totally rely upon market situations and market dynamics because this platform itself can play a potential role in determination of its price in 2024 by making certain development and adoptions in it. Further more when I talk about success of this token and this platform which is STEEM and steemit respectively then it's success and development analyse upon that how much it is being used and how much people are active in its utility and what level of use people have of it and what are the new updates and innovations on which team is really very focused.

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When I talk about other market conditions and other environmental factors then these are regulatory environment and different global factors that have too much impact at the overall price of this token and condition of volatility and uncertainty can be created in Crypto market due to this.

I want to conclude my whole discussion about fundamental analysis of this token price which is STEEM in 2024 especially after BTC halving event happening so now you can easily understand that most probably there is positive sentiment over all regarding this token price in this year as well as there are some factors I have described while discussing fundamental analysis of this token so now hopefully this topic is clear to all of you.