Steemit Crypto Academy Contest / S15W1 : Steem & Halving bitcoin 2024
How could the Bitcoin halving in April 2024 influence investors' general perception of cryptocurrencies, and in particular, what impact could it have on the STEEM token?
What adjustments in the supply and demand dynamics of cryptocurrencies could result from the Bitcoin halving, and how could these changes influence the valuation of the STEEM token?
How might specific characteristics of the STEEM token, such as its content-based reward mechanism, be impacted by macroeconomic changes resulting from the Bitcoin halving?
What lessons can investors learn from previous Bitcoin halvings to anticipate market trends and make informed decisions regarding the STEEM token?
Seeing this week engagement contest give me Joy and high hopes because I was scared our lovely engagement contest had come to our end, in addition to that I'm so grateful to the team for hosting such awesome educative and informative context that could change one life.
😂😂😂 I have a felling that I inspired this contest topic, this is because most of my post nowadays are about upcoming Bitcoin halving and how it will positively affect the prices and growth of STEEM token and all asset on Steem blockchain. This year halving is a very special one because of so many important reasons which I will highlight below 👇.
Unlike others Bitcoin halving this Bitcoin halving would be a very powerful and efficient one, because it is going to happen during a period were crypto adoption is really high and the promotion, advertisement and sharing of the crypto news is on higher circulation.
The rate people mostly crypto lovers share information and crypto currencies and Bitcoin halving is really awesome, infact the promotion of Twitter is so amazing and impressive. This update are raising hope that cryptocurrencies are taking over very very soon, and the smart ones would take over with the help crypto asset.
There are so many people thinking of a better and safer place to invest their money, hide the to much money and make trustworthy and profitable Investments, this type of persons admired bitcoin and cryptocurrency from afar because of trust issues. The Bitcoin ETF approval really turned things around because it generated more trust in the cryptocurrency ecosystem, so therefore attracting so many amazing and powerful investors into the crypto ecosystem.
Although I have always believed in cryptocurrency most especially my love Steem Token and Bitcoin, but as normal the trust wasn't 100% but the approval of ETF made me believe that positive change is no longer far from us. Just like others investors I am seeing buy signal nearby, so therefore my hopes have been solidify.
Gotten from Twitter, lost the link.
Above we can see a complex and comprehensive image, showing data of daily Bitcoin buy data after the Bitcoin ETF news, which as we all know occured on 11 th of January 2024. So therefore the approval have triggered investors to buy and half BTC for a longer period of time.
The have been so much anticipation all over the world that the Bitcoin next bullish trend would be a very tremendous and powerful one, so many traders have been placing different prices expectancy for cryptocurrency and Bitcoin coin. Some of the predictions are right, some are just clout chasers sharing false News.
Infact every moment I wake I first check my trusted crypto exchanges to confirm the current price movement of Bitcoin and Steem, to observe how the react to the crypto news and trending information on all crypto media and social media platforms all over the world.
Expect for the fact that the Bitcoin halving News, the top crypto trader already announced this year as a bullish trending year for Bitcoin and the crypto currency market, according to them 2022 was a bearish hear, 2023 was a supposed to be more like recovery and stable year and the year 2024 would be a profitable one with so much bullish signals.
From Binace
As I have been writing on my post the bullish movement in the crypto market is most times affected by the price of Bitcoin, whenever there's bearish trend or movement is seen in the Bitcoin market, there would be bearish signal in many smaller or younger coins. Also whenever there's a bullish trend or movement, there would be bearish signal in many smaller or younger coins. As seen on the image there are bullish trend in other crypto asset as soon Bitcoin picked a bullish signal over a period of time.
So therefore the price of Steem is expected to move bullish in the response to the upcoming Bitcoin halving price or movement, just like those most asset i believe Steem would reach a new price of $0.7 USD per steem or more than 0.7. this is because the steam blockchain and steem token are very effective and efficient when it comes to reacting to Bitcoin price. In fact these days steem blockchain have been exceeded limit, showing and going beyond borders to get new high highs in the crypto market . Which shows the future is bright for the entire Steem blockchain and all its loyal HODLERs like me 😊😁.
As I was thought in economics, the demand and supply affects the value and price of an asset over a period time. So therefore the lower the supply of the asset the higher it demand becomes, so therefore causing the price of the asset to become higher and more valuable . Also the other hand whenever they supply of an asset or ent is so much in the market there higher chances that they asset will be devalued and the price go lower than it used to be.
This is the main case behind the success of the Bitcoin having over the year, the Bitcoin supply is a crypto market has a maximum amount is have to reach and whenever it reach this amount then halving in the Bitcoin blockchain is expected to prevent the supply from a exceeding the maximum limit of Bitcoin supply in the crypto market. Coincidentally this happens approximately after 4 years and according to the team in this expected that Bitcoin halving would be triggered sometime around the month of April in the year 2024
This supply and demand tactics is used in many blockchain to help increase the buy pressure of the asset in the crypto market. I was telling a friend that even Tron blockchain use this technique to boost the price of Tron the past years, although it was not in actually in the halving method but I believe the reason why we steemians stopped receiving the Tron rewards is because of the team want to reduce the supply of Tron in the crypto market so therefore increasing demand and price in the crypto market.
I think the demand and supply tactics would really help the steam blockchain over the period of time this is because the reduce in the supply of Bitcoin in the crypto market would create a high demand in a crypto market but but it would also affect other altcoin that are very effective and productive like Steem blockchain.
In fact from analysis, technical strategies and fundamental news, it is seen that this year will be a year for altcoins like STEEM. This is because the upcoming Bitcoin halving is really attracting big investors into the crypto market but this crypto traders or investors are not bouncing fully on Bitcoin but they are also making powerful investment in promising and effective and efficient blockchains like that of STEEM Blockchain .
Before I start I will like to explain the macro economic, macro economic is a very special part of economics that has to do with the way a project drive economically , this is the study that focus more energy to how much a project grows economically despite different conditions that's good alter affect the economic of this project.
The reason why steemit remains outstanding compared to other social media platform is because of the fact that STEEM blockchain reward users for sharing unique and informative articles on STEEMIT just like that. Unlike other social media platforms like Facebook Or Twitter etc that's don't reward users who uses their platform as medium to share information.
the best way Bitcoin halvin is going to be very effective and affect the economics of steem blockchain is that the new investors who bitcoin having attracts would definitely want hold some altcoins that are very beneficial. This would attract so many to make research about steemit and their wonderful goals and it will trigger them to create account on steemit and work harder to earn such rewards.
Also for existing steemians. As we have seen recently they engagement on steemit blockchain is quite impressive and amazing and this is because of the upcoming bitcoin halving. Every trader and investors don't want to be left out in this great opportunity so therefore they inspired to work harder before the Bitcoin halvin so that their value can increase when steem increases
The core reason why bitcoin halving has been so much anticipated and trusted is because of experience and it historical data of price movement after the previous bitcoin happen that happened between every 4 years, from experience the previous Bitcoin halving triggered new high highs and maximum profits to traders who invested and helped Bitcoin before the Bitcoin halving.
From past experience Bitcoin experience massive position after it halving but it doesn't trust any there, because of the influence and power restored upon the Bitcoin blockchain most altcoins and other powerful coins like Ethereum and Litecoin also had a fair share from the Bitcoin halving. That is to say almost every asset on the crypto market went bullies as a result form Bitcoin halving.
Luckily for Steem blockchain Steem also benefited from the previous bitcoin halving by going bullish, so therefore putting it's investors in profit once again, it's on this note that most traders and investors derive their hopes and anticipate a better bullish market after the upcoming bitcoin halving event which is roughly 90 days from today.
According to https://ng.investing.com below I'm going to show you the price difference of Bitcoin and Steem from the last bitcoin halving to 1 year interval and you would see the wonders of Bitcoin halving and how Steem reacted and benefitted from it during the 1 year interval.
During halving
Bitcoin was priced: $8579.8
Steem was at : $0.16407
After halving
Bitcoin became priced at :$56,695.00
Steem was then priced at : $1.08735
Note:For a clearer picture view please do zoom, the markdown made the images so small
Above you can see the difference price of this asset during the Bitcoin halving and after 1 year of the halving experience, from our data above there's a high chance that steem would reach a new high high of roughly $1.5 by this time next year .
The Bitcoin half in experience is a very powerful and important one in the crypto ecosystem as a whole and as you can see from the above images, they are more reasons why investors should double the investment in order to make maximum profit whenever they bullish trend starts.
I am inviting @bossj23 @yakspeace, @ninapenda, @sahmie @ruthjoe, @drhira @jueco @suboohi
Thanks for going through remember starrchris cares ❤️
Greetings brother, I see you've really dug deep into the topic at hand and made it super easy to understand with those awesome graphics you shared. It's like having a visual guide that helps us grasp the concept better.
No doubt about it, the halving has a big impact on prices, but here's the thing, you have got to be patient. It is not gonna happen overnight. It might take a few months after the halving for us to start seeing the results of the decisions being made right now. It's kinda like when you plant a seed and you have to wait for it to grow into a beautiful plant. It takes time, but it's totally worth it.
Sending you warm greetings and wishing you all the success in the world.
Lol thanks friend for such wonderful and amazing comment friend I really appreciate your work 💯
Haha, thank you so much for your kind words. I'm really glad you liked my comment. Your appreciation means a lot to me. You're an awesome friend, and I'm always here to support you. Keep up the great work, my friend.
To be sincere your comment as quality and some people post because he uses experience knowledge and love to make your awesome comment and people's article
God bless you brother
Thank you, I really appreciate your kind words. May you be blessed with all the good things in life as well. Stay awesome, my friend.
Has hecho un análisis minucioso que facilita la comprensión del tema con los gráficos que presentas.
Sin duda el halving trae grandes efectos en los pecios pero que no serán inmediatos, si no que habrá que tener paciencia en unos meses después del evento para empezar a ver los resultados de las decisiones tomadas en la actualidad.
Saludos y éxitos.
Dear friend, I'm so grateful to have read your comments because it's as educative and informative as you post, please keep the good work friend
I am wishing you success friend
@starrchris
In the month of April, as the big update seems to be that Bitcoin is going to be halved and we know that this is really big news, Twitter users are kind of overshadowed by this news. That everyone is buying more and more cryptocurrencies because the more cryptocurrencies people are investing in, the safer and better they are protecting their money, we know for a fact.
A very profitable business and there is no doubt that everyone is doing what Bitcoin is promoting, and if we talk about it, Steem will grow in the same way.
Sir it will be beneficial means all these things that are circulating are very positive for us all these news are proving to be positive and people are trending towards crypto currency your post is appreciable keep up the good work Congratulations on your success.👐👐👐💝
Yes friend we all hope steemit grow in the future and the steem blockchain becomes on of the best Blockchain technology in the world, as it once was.
Hi brother you always share the best participation for steemit cryptoacademy challenges. I admired your posts & this week challenge you have also share your experience with us which will benefit a lot of users.
You are Bitcoin halving or bull run has strong impact on all cryptocurrencies as it will increase prices of alt coins in market. I wish we will get benefit from this too like previous ones.
Best of luck for your participation.
Thanks friend for your good wishes I really appreciate your good comments friend.
My pleasure brother. Best wishes for us.
Thank you sister wishing you success to and a blessed week
My pleasure brother 💞
With the APPROVAL OF BITCOIN ETF by SEC BITCOIN, STEEM and other cryptocurrencies will perform very well after Bitcoin halving. From my research institutional Investors are now by BITCOIN because they have believe and trust in the system.
I think it is now time for me to start applying the strategy of Dollar Cost Average (DCA). Halving is indeed a way to reduce supplies so demand can be increase which would trigger the price of Bitcoin, Steem and other cryptocurrencies to increase in value.
Nice post from you sir. It seem you like listening to crypto related news which is a good way to go as a trader. Success to you.
Yea hopefully we will see the benefits of Bitcoin having in no distance time
This publication has been supported through the Steemcurator06 account for containing good quality content.
Curated by: @suboohi
Thanks good friend @suboohi
Upvoted. Thank You for sending some of your rewards to @null. It will make Steem stronger.
Yea that's my goal for steemit
The details in this post is quite informative and educative. This year is going to be a big year for traders, investors and steemians as well. It's good to know you're monitoring the bitcoin halving month. This would be followed by uptrends. Looking forward to reading more of your analysis. Wishing you best of luck in this challenge as well. You can do well to separate your club tag from your country tag
I am glad you also analysed and rated my post with high quality, thanks for such amazing work
Noted brother
¡Saludos! 🙏
Tiene una mirada en profundidad al impacto potencial de la reducción a la mitad de Bitcoin en el mercado de cifrado, especialmente con respecto al token STEEM y la cadena de bloques Steem. Su análisis de la relación entre la reducción a la mitad, la demanda y la oferta proporciona información valiosa.
Buena suerte en este desafío.🌟
Hey deae friend you also did wonderfully well in your content, thanks for appreciating my content, I appreciate