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When the market realizes that Bitcoins available supply is even less than the mined coins in circulation and it will never get to the total supply which can be mined, scarcity will drive the price much higher.As of early 2018, this infographic from Nicholas Rapp of Fortune exemplifies the breakdown of the current Bitcoin source and also the guide is a fantastic read featuring a new study of missing Bitcoins:According to new study from Chainalysis, a digital forensics company that studies the bitcoin blockchain, 3.79 million bitcoins are gone for great based on a high estimateand 2.78 million based on a reduced one.
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The previous month of 2018 has started and BTC is still on its downtrend. The main reason what the crypto people are pointing out to is not getting a green light in the SEC regarding the BTC ETF. However, 2019 is exactly what the crypto enthusiasts are looking forward to. Even NASDAQ, the second largest stock exchange in the world has also pledged to launch Bitcoin futures in the first half of 2019.
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One of Bloomberg's column said that there is a possibility that FUD(Fear, Uncertainty and Doubt) might loom over crypto space in 2019, where Barry Ritholtz predicted the prediction by specialists wrong and absurd. Inspite of that also, analysts and enthusiasts kept their hopes high. Mike Novogratz said explicitly that he believes there is going to be big adaption in 2019,2020 official source because he thinks there'll be participation from people in the blockchain space.Now the state government of Ohio has announced that it's going to accept tax payments in BTC wherein the government has partnered with Bitpay to make this happen conveniently so that the bitcoins can be converted into dollars on behalf of their taxation office.
BlockTower Capital, the main force in the crypto kingdom made a bet on Bitcoin a year ago recently made a bullish statement on Bitcoin's cost. Michael Bucella, a partner at BlockTower mentioned the recent dry spell running in crypto space and volatility may be the current scenario that is pulling it down however, the distress cycle may come to an end very soon as the institutional players have expressed their ardent interest in purchasing cryptocurrencies. .
It's gaining adoption and some people have started using BTCs in real time, like buying a Lamborghini or buying a mansion. It's easy as well as advanced. Once you understand the technology behind it, you will definitely embrace the beauty of this digital currency.
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Bitcoin prices are fluctuating. It's trading at $3909.89 from its all time of 20000. The ever-fluctuating Bitcoin made many involved in the price forecast of Bitcoin.
Since the marketplace is experiencing volatile conditions, we must back up the prediction with the marketplace experts, who've been in the mind and heart of their cryptocurrency market.
John McAfee, the founder of the popular McAfee software and an ardent Bitcoin follower predicted that Bitcoin will hit $1 million by 2020 following last years prediction of $7000 that was well surpassed.