Steemit Crypto Academy Contest / S12W2 -: STEEM Vs Bitcoin halving

Hello esteemed members of wonderful community how are you doing, i am good. Today i am going to explore my knowledge about topicSteemit Crypto Academy Contest / S12W2 -: STEEM Vs Bitcoin halving.

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What could be the effect of Bitcoin halving on cryptocurrencies? Explain

First of all i would explain what is Bitcoin halving meaning, it referred to halving which means division in two equal half that is predetermined decrease in the ratio at which creation of new BTC takes place.

Its 210,000 blocks which are programmed in the protocol of BTC and its most likely to takes place after every 4 years. Moreover, halving refer to half in block reward which is leads to reduction in new mined BTC that are awarded to the miners.

BTC has embedded specificity which has designed programming in a way that it can allocate about 21 million Bitcoin, the most profound is to fixed the supply and it tends to reduced block reward further. This mechanism which is particularly used to reduced the rate of BTC issues in the circulatory system and referred as BTC Halving.

If we see back in history it can be seen 2012 the 25 BTC were per block, in 2016 it half to 12.5 BTC per block. While after few years in 2020 mining reward was 6.25 BTC mined per block.

Before 2012 the BTC inflation rate was 50% after halving, it had definite impact and caused it to bull run for the cryptocurrencies. This upward rise in price of cryptocurrency although it was not rapid rise.

Hence in February 2020, founder and CEO Sergei Khitrov observed that before and after the halving the Bitcoin trading volume was skyrocketed, which obviously attracted investors.

So, it can be concluded that Bitcoin price changes have effects on altcoins positively, for example the it starts from the Ethereum and remaining herds follow it. But it was observed that altcoin didn't move so fast in comparison to increase in BTC during its bull run. Therefore mostly investors do trading when BTC prices got stable.

How was the price of STEEM affected by the latest Bitcoin halving? Explain and show screenshots.

As the Bitcoin halving has definite effects of altcoin and steem is also altcoin. So, halving exerts effect on the price of steem also. If we seen last halving of BTC when was taken place in 2020 on 11 May. Arrow in screenshot shows that there was decrease in steem price

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It can be seen in screenshot there was decrease in steem price on May 11, 2020. However, after halving takes place there was increase in steem price was noticed although it was not much price as compared to Bitcoin halving but it gradually increased.

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Make a technical analysis of the price you forecast for STEEM at the time of the Bitcoin halving. Screenshots are required.

Well cryptocurrency is highly unpredictable still analysis and prediction can be done, in my prediction as the previous halving caused an increase in steem price. So, currently the steem price is 0.162 and if the resistance break i guess ir will cross 0.40 in future halving which is might be in 2024.

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Advantages and disadvantages of the Bitcoin halving, for the cryptocurrency world.

Here are few advantages and disadvantages of bitcoin halving.

Advantages

• The investor can enjoy the higher prices of altcoins when Bitcoin halving takes place.

• The supply of bitcoin is increased as the halving takes place.

• When the supply of Bitcoin is reduced the risk factors of overspend is reward is get protection through the halving.

• Halving caused the bull run in digital market.

Disadvantages of bitcoin halving

• As during the halving process the price increase is volatile , so it couldn't predicted how will ne the market trend.

• As the reward is reduced to half the professional people show less interest.

• It might caused the end of Bitcoin chsin and few cryptocurrencies will be extinct.

I would like to invite my dear friends @suboohi, @m-fdo and @uzma4882 to take part in the challenge.