BTC Halving and Impact on Steem

7개월 전

BTC Halving

So one of the big events in crypto just happened. As far as I can see in the chart, there was some volatility getting into it yesterday, but nothing significant happened in terms of price action.

BTC_USD_daily.JPG

The halving event happened 2:23 p.m. CST on Monday. Since the first ever BTC block was generated back in 2009, there have been three halving events. They take place once every 210,000 blocks mined, or typically once every four years, a halving truncates the present miner block reward by 50%. The latest halving reduced the mining rewards down from 12.5 BTC to 6.25 BTC. Previous halving events were in 2012, and 2016. As a sidenote BTC only have a fixed supply of 21M coins and the halving is expected to last until the year 2140. Currently, there is about 18.37 million BTC in circulation.

BTC Hourly Price Action

With that background many people had expected a lot of price movement, which didn't happen. Generally halving event is attached to longer term price rally, but in my opinion that is fairly limited impact. BTC is still in a longer term bull market as an alternate store of value, and regardless of the price and short term action it will continue to be so.

BTC_USD_hourly.JPG

Yeah, there is that $1000 drop in the BTC price, but that is not much of a big deal for BTC other than running a few stops. As of this writing price is stable around $8600 and halving event is behind us.

Steem Price Action

Not too much to talk about here as well, prices are stable around 1900 satoshis. It is forming a stable base, which way it breaks that is the question.

BTC_steem_hourly.JPG

For steem prices to move in either direction, we need a catalyst. What would that be, is the million steem question.

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Pump our steem bags justin!

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That is the only thing we can hope for.

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Thanks for posting this helpfull update

STEEM has been in the dumps compared to Bitcoin! Once our new leader starts doing stuff I'm sure it will pump again too! All we need is some news!!

the price of btc will increase after 30 - 50 days, it doesn't increase just after halving , it will take some time,

The truth is that we already have the catalyst and it has already been supplied to us, we are waiting for the effects that we will see in a few months and that is where we will see how bitcoin is tested.

It is not a secret that bitcoin is an alternative, at the moment, and it is not the favorite reserve that many have as their first option. But unlike metals, this one does not have logistical problems and we could see an exponential growth of your price by the beginning of 2021.

Perhaps only wait and watch policy is best for this time.

Only Justin can pump Steem now. There's no real reason for the price to go up apart from that.

These types of events in the crypto world is always golden time for Leverage / future traders. Here we need to know the leverage platforms like Koinpro, Who encourage to learn at its practice account feature and start making money by any upcoming event or during any FUD.