Quote from: WeThePe0ple on December 15, 2023, 09:22:56 PM

A few random beginner questions:

- There have been 3 halvings, and in all of them the BTC price was insignificant compared to what it is today. Am I the only one who thinks that it is premature to speak of a pattern when something only happened 3 times before, and in completely different price ranges? Buying 1 BTC was realistic for many people before the first 3 halvings. Now that is no longer the case.

- Why would people invest loads of money in BTC after the halving and not before?

You’re not out of place to have made these observations and that it happens plus, we today see it for a pattern and bank on that to be the case through every other occurrence.

Well, we could blame this on the psychology of human behavior. Most times, it’s about what we already know, coming to push us towards same repetition over again due to an already established expectation thereby, creating the event (Bulls/Bears).

The halving is already a certainty, something that is independent of efforts but what comes after is based on our response to it.
The halving creates an idea of scarcity due to the reduction of block reward to miners. This in turn reduces the introduction of new Bitcoins into the market, mounts pressure on available Bitcoins in circulation, creates reasons why there should be more hodlers and as well, goes about to advertise for more patronage. It’s become a significant event in the history of cryptocurrency, field with expectation and people now bank on this for high returns.