Will the limited supply push BTC to $20,000 or even further ?
kim-jong-un (25) in bitcoin • 6 days ago
Some analysts, like Ronnie Moas, see Bitcoin rising to the $15,000 – $20,000 value by 2020. However, there are some analysts that believe that the key digital cryptocurrency will hit the $1 million level. Yet, which of the predictions are right – you never know.
After the activation of the Segwit protocol and testing of the Lightning Network, the Bitcoin market has been on a steady rise to reach $80 billion market cap. Presently, the market capitalization of Bitcoin stands at almost 50% of the entire crypto market. In addition, it has exceeded the 1% of gold’s estimated $7 trillion market cap.
Daily transactions of Bitcoin also have been escalating on a constant basis. According to the data from Coinmarketcap, Bitcoin’s daily trading volume stands at about 400,000 BTC per day. In fact, only 1728 Bitcoins are being created through each mining day.
By the next halving in 2020, the number of Bitcoins mined per day will decrease to 864. In the same fashion, by 2024 – there will be 432 Bitcoins mined every day. Market experts predict that by around 2032, almost 99% of Bitcoins will be mined (20,671,875). After that, the remaining 1.6% will be mined in the course of the next 100 years, according to the predictions.
Do you think investing in bitcoin now is a big deal or something bad might happen in the next few months ?