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When the economy realizes that Bitcoins readily available supply is even less than the mined coins in circulation and it will never reach the total source that can be mined, scarcity will drive the price much higher.As of early 2018, this infographic from Nicholas Rapp of Fortune illustrates the breakdown of the current Bitcoin source and also the article is a fantastic read featuring a new study of missing Bitcoins:According to new study from Chainalysis, a digital forensics firm that studies the bitcoin blockchain, 3.79 million bitcoins are gone for good based on a high estimateand 2.78 million based on a reduced one.
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The last month of 2018 has started and BTC is still on its downtrend. The main reason precisely what the crypto folks are pointing out to is not getting a green light in the SEC regarding the BTC ETF. But, 2019 is what the crypto enthusiasts are looking ahead. 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 distance in 2019, where Barry Ritholtz predicted the prediction by specialists wrong and absurd. Inspite of that too, analysts and enthusiasts maintained their hopes high. Mike Novogratz said explicitly he thinks there is going to be large adaption in 2019,2020 as he thinks there'll be participation from folks in the blockchain space.Now that the state government of Ohio has announced that it's going to accept tax payments in BTC wherein the Look At This government has partnered with Bitpay to make this happen conveniently so the bitcoins can be converted into dollars on behalf of their taxation office.
BlockTower Capital, the main force in the crypto kingdom made a wager on Bitcoin a year past recently made a bullish statement on Bitcoin's price. Michael Bucella, a partner at BlockTower mentioned that the recent dry spell running in crypto space and volatility may be the current scenario that is pulling it down but the distress cycle may come to an end very soon as this content the institutional players have expressed their ardent interest in purchasing cryptocurrencies. .
It's gaining adoption and a number of people have begun using BTCs in real time, such as 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 the digital currency.
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Bitcoin costs are fluctuating. It's trading at $3909.89 from its all-time of 20000. The ever-fluctuating Bitcoin made many involved in the price prediction of Bitcoin.
Since the market is experiencing volatile conditions, we should back up the prediction with the market specialists, who've been in the mind and center of the cryptocurrency market.
John McAfee, the read the article founder of the popular McAfee software and an ardent Bitcoin follower predicted that Bitcoin will hit $1 million by 2020 following past years prediction of $7000 that was well surpassed.