BTC - Some perspective...
We know that bitcoin is in a bullish period of time, but it sounds even more bullish when we zoom out a bit...
Like I mentioned yesterday, we are now less than 10 months from bitcoin's next halving event.
That is a big deal because the block rewards are going to drop from 12.5 btc per block to 6.25.
More about that can be seen here btw:
https://steemit.com/bitcoin/@jrcornel/we-are-now-roughly-10-months-from-bitcoin-s-next-halving
These events have historically been very bullish for bitcoin prices.
Now for some perspective...
Right now, as of block 584,640, roughly 85% of all bitcoins that will ever exist have been mined...
Let that sink in for a moment.
As of today, right now, there will only ever be roughly 15% more bitcoin in circulation than there are right now.
There are now only 3,192,000 bitcoin left to be mined, ever.
Some more stats...
There are roughly 35-40 million active bitcoin wallets in existence... and close to 8 billion people on the planet...
There are roughly 40 million millionaires in the world currently with 12 million of them living in the US.
The bitcoin ownership percentage is said be roughly 11% of the American population.
You do the math and figure out what happens to prices when adoption levels really spike...
Stay informed my friends.
Image Source:
https://www.investopedia.com/tech/how-does-bitcoin-mining-work/
-Doc
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Thanks.
Having one full bitcoin will eventually become a luxury!
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I sure hope so!
It's impossible for all of them to get a bitcoin, because there are not going to be enough of them around. So one of the most powerful economic forces will heavily influence the market: scarcity.
Yep. If there is demand for it, prices will go much higher... not enough of them to go around! Plus roughly 30% of them are considered lost as well...
Bitcoin is very young. If we zoom out we only see an uptrend with corrections. I wonder what will happen in 10 years from now.
Thanks for posting, friend.
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Yep, that is a very good point. If zoom out enough, there has never been a bear market. Bitcoin has never made a lower low.
Exactly. In the long term it is only bull market
Hopefully it stays that way! And I wish I could say the same for steem... :(