Hello everyone, I hope you all are doing well. I am here to share my participation in the Steemit Engagement Challenge season 15 week 1. This is an important topic especially on the future of cryptocurrencies as most of us are now related to crypto field after joining steemit. Bitcoin halving is the golden period for all steemit users & people linked to cryptocurrencies.

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Bitcoin halving is given this year and in April month it will start. Let me understand what you want Bitcoin Halving is? By Bitcoin halving we mean, the rate of making Bitcoin decreases up to 50%. It means if before 10 BTC were mined in 5 minutes, now 5 BTC will be generated in 5 minutes. I think the actual rate is now 12.5 BTC per 5 minutes. After this halving it will it will become 6.25 BTC per 5 minutes.

What Does Bitcoin Halving Results in?

It decreases the supply of BTC in the market as its demand eases. Before if 100 Bitcoin would come to the market in 1 hour, now 50 new BTC would come to market in 1 hour. It means the supply is slowing down.

In previous Bitcoin Halving, if we see the data and statistics, We have always witnessed a bull run after Halving. BTC has always made a higher high or you may call it an all-time high. We are expecting the same result this year.

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In BTC halving or Bull run the whole market performs well. It's in an uptrend. All the alt coins gain their prices. Some make their all-time high. I believe this year will be good for STEEM too. It will gain a huge rise in its value. According to my analysis, it will go above $2 in this bull run. My minimum target is $1 for STEEM COIN where I will sell my holding Coins.

Atomic knowledge, Bitcoin Halving makes the supply of BTC limited. I have already described the whole scenario above, what is Bitcoin Halving, and how it works. The halving mechanism decreases BTC supply and when its supply decreases automatically its demand increases.

BTC is the major cryptocurrency and any positive or negative thing that happens to it affects the overall market. Now crypto halving is good for BTC, every time BTC makes its all-time high in Its halving, we can see its good effects in the entire market. The supply of Alts coins does not have any relation with Bitcoin halving, but yeah their demand increased.

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More Alts coins make their all-time high in the crypto bull run. The reason is that many investors found it a golden chance to invest in crypto at that time so the demand for cryptocurrencies increases. We can see a good development in Steem price too.

Its all-time high is in BTC halving back in 2016 to around $7, and then in a recent bull run, it has reached a price of $1.2. We can expect a huge development in Steem's price in this bull run too. As I have said my target is $2 for STEEM in this bull run.

Steem is the token that is created on Steem Blockchain when users share their content & they get rewarded in the form of a Steem token. Even though Steem is not directly linked to Bitcoin but still, the macroeconomic changes resulting in Bitcoin halving will still impact the Steem token & reward system on Steem Blockchain.

We are getting rewards on steemit in the form of Steem, Steem power & SBD. These macroeconomic changes of Bitcoin halving will impact our reward system on steemit, especially the Steem token. Bitcoin is the token that is dragging all other cryptocurrencies & thus also impacting their prices.

As Bitcoin halving macroeconomics changes impact other tokens so, it will also increase Steem price which will lead to an increase in Steem demand, transactions, selling & will also increase its value in the crypto market.

Steem/BTC	Steem/USDT

^{Screenshot taken from Binance}

But still, there are some times when Bitcoin halving neither negatively nor positively impacts Steem coin price in the market. Since we have seen that the Steem price was highest between 2020, 2021, and 2022 due to higher production of Steem coin, also increased its demand in the market, due to Bitcoin halving.

So, macroeconomic changes in Bitcoin halving are impacting the Steem token & reward mechanism on the Steem Blockchain.

Let me share the data of the Previous Bitcoin Halving in what happened.

The First Halving of BTC happened in 2012. Its price was ranging somewhere from $13 at that time. In 2016 another Halving Event happened and during the bull run, BTC touched $19k, just 12 months duration after Its halving event. The last Halving happened in May 2020. The prices pumped from $9k to $69k which was a huge pump and still the all-time high of BTC.

This is the history of Bitcoin Halving and Bull Run. We have always seen a huge bull run after every Halving event.

Now I predict a perfect bull run to come after this halving. Bitcoin may create a new all-time high. This will be a golden chance for investors to invest in BTC and other altcoins. Steem is my favorite coin to invest and I hope it will give us a huge profit in the coming days.

If we buy STEEM coin now and it touches $1 in upcoming days, which is very easy for it to reach this level we can convert our $100 to $400, and $1000 to $4000.

This was all about my participation. I hope you all like it & share your valuable comments. I would like to invite my friends @drhira, @drasma, @m-fdo to share their participation & views about Bitcoin halving. Best of luck to all the participants.