👍 Nice initiative!
About the halving, there is two interesting aspects i see regarding this event:
1 - People don't fully understand the supply/demand rule.
The main argument regarding the effect on the Bitcoin price increase is that the Supply will slow down (less new BTC is going to enter the market).
Sure, it is true that the less amount of a stuff is on the market, the higher the price the sellers will try to sell.
But demand is still the most important part of the equation that define the price.
Example: Let's say that there is 100k units of something being sold on a free market every day.
On the other side, there is 100k people looking to buy one of this something also every day.
In this situation, the market reached a balanced situation, where there is enought of this something for every one.
Now, Let's say that this something drop it's daily market offering to 50k, what happens?
There is still 100k buys every day, therefore, in theory, the something is now worth double, and the sellers will adjust the price accordingly.
But what if the buyers side still drop to 50k daily? Price don't move.
And the big thing is: You can change the supply as much as you want (increasing or decreasing), but the price won't change if there is no change on the demand side.
Therefore, the discussion revolving around if the price of BTC will increase or decrease after the halving is useless (from the economic perspective)
2 - The effect of the halving on the price have already happened a long ago.
So, what is the real effect of the halving? Gossips and rumors. And gossips and rumors can have a huge impact on the demand.
If a lot of 'experts' start to say that the halving will increase the price, the economy effects doesn't matter.
As long as more and more people believe that this is true the price will rise due to the simple fact that they will buy more only because they believe the price will rise.
This is also known as the good old speculation.
There is no 'real' demand, only a snowballing effect of the gossip reaching more and more ears.
Markets do what markets do....
You've really made me understand the demand/supply rule very well when it comes to cryptocurrency halving most especially about the topic at hand known as Bitcoin halving.
It's quite fortunate that this BTC halving will surely have more impact on the price of BTC as you've explained.
Thanks for sharing
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Dear @phgnomo
Brilliant piece of work buddy. We've upvoted already it with PH and steemcurator06 accounts.
I would like to take an opportunity and share with you post by @ qsyal, related to Halving:
After more 10 days ..Should I get optimistic or pessimistic about the Halving?
This user just joined our community recently (after long break) and I'm helping him to get some valuable traffic. Hopefully you will find this article worth checking out :)
Enjoy your sunday,
Yours, Piotr
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