Finally, the Bitcoin halving event has passed. This means that miners will now earn less for the same work they did before, which improves the technology's tokenomics. If you apply the supply and demand principle, you may be able to understand the meaning and impact of the halving on a simpler term without blowing your mind, especially if you are new to the game. Psychologically, many people are relieved that the halving is over.
It is like waiting until 12 a.m. every new year, and when you sleep and wake up, the world does not look any rounder, nor do all of your problems from the previous year disappear. Same old you, but a different year. So, same old BTC, with the euphoria of witnessing another historic halving. So I am guessing the excitement will subside, and if I were a buyer, I would wait to see if there are any potential dips before jumping in.
History is always 90% prevalent when it comes to crypto. However, there is no reason not to be excited. With each passing day, the alt coins season gets closer, so it is more about the psychological experience than anything else. Most people are excited, especially the no-coiners who are hoping to throw in $10 and make $500,000.
To them, the halving means their money gets to X7 million in a few days time, because this is the narrative many Web2 social spaces is feeding. The halving is financially significant, but it is more about improving the tokenomics of the technology. It is an event that outperforms the fiat world's fiscal and monetary policies, and we get to see Satoshi's ingenuity manifest itself in BTC every four years.
However, I will not burst your bubble by claiming that the halving is another event; you simply have to follow the history and take the time to understand the pattern and permutations, rather than viewing it as an event that causes a ponzi-like effect.
For many plebs on social media the hype is on. They are literally the people who cried throughout the bear market that crypto had failed them, but they have returned to the hype to see if they can make some money now and then.
People are not taking the time to understand cryptocurrency before investing or expressing an opinion, which is why adoption has been slow. If more people had taken the time to learn before doing anything, their decisions would have been calculated rather than driven by speculative interest or investment. People would rather shoot than ask questions later.
History, Again
In terms of history, we are on the verge of great things, but only until the altcoin season arrives. It is even better that BTC remains within this price range. Except for the maxis, almost everyone is focused on the altcoin season. So congratulations, everyone. Another one. Fourth halving in the bag.
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