Why did Bitcoin rise after the halving?


Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. Today I will share with you when the bull market is going to come and this bull market will last for a long time or we may even see bitcoin cross 100 thousand dollars. Bitcoin has pumped more volume this year than any other year and the ETF and halving are among the events behind it.

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Before the Bitcoin ETF was approved, the price of Bitcoin jumped. And if you look at all time highs, you'll see that the Bitcoin ETF pumped around 90% after that, and the next pump was right before the bitcoin halving. Bitcoin took a correction before the halving and Bitcoin pumped like 100% for the halving. Now, why are these things so important? You need to understand one thing, the first thing is that the most important thing in the market is supply and demand. Because if the supply of a thing is same in the market, then the thing does not have so much hype. This is because it is then equal to everyone. You all have heard that printer companies sell their printers very cheaply because they are in high supply. Although the printer company people profit from the printer colors. On the other hand, a famous and good company's phone gets sold out as soon as it is launched because the supply is very less according to the phonetor's demand.

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So it is understood that if the demand of a thing in the market is high and the supply is low, the price of the thing goes up. We all know about halving, but still tell those who don't know, halving is the amount of Bitcoin mining, that amount is halved. This means that this halving will reduce the selling pressure of ten million dollars in the market compared to before. That means Bitcoin is decreasing in supply but increasing in demand and this is why the halving event always takes Bitcoin to a new place.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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Upvoted! Thank you for supporting witness @jswit.

historically bitcoin is always bullish after halving

Nice of you to post, I totally agree with your concept of demand and supply as the reason behind Bitcoin pump, but ofcourse we are still early in the market and I tell you we are yet to see the crazy gains.

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