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When the market realizes that Bitcoins available supply is even less than the mined coins in circulation and that it will never reach the total supply which can be mined, scarcity will drive the cost much higher.As of early 2018, this infographic by Nicholas Rapp of Fortune exemplifies the breakdown of the current Bitcoin source and also the article is a good 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 remains on its downtrend. The main reason precisely what the crypto folks are pointing out to is not getting a green light from the SEC regarding the BTC ETF. But, 2019 is exactly what the crypto enthusiasts are looking ahead. Even NASDAQ, the second largest stock exchange in the world has also vowed to launch Bitcoin futures in the first half of 2019.
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One of Bloomberg's column said there is a probability that FUD(Fear, Uncertainty and Doubt) might loom over crypto distance in 2019, in which Barry Ritholtz called the prediction by experts wrong and absurd. Inspite of that too, analysts and enthusiasts maintained their hopes . Mike Novogratz said expressly that he believes there is going to be big adaption in 2019,2020 as he thinks there will be more participation from people 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 government has partnered with Bitpay to make this happen conveniently so that the bitcoins can be converted into dollars on behalf of their tax office.
BlockTower Capital, the main force in the crypto realm made a bet on Bitcoin a year ago recently made a bullish statement on Bitcoin's price. Michael Bucella, a partner at BlockTower mentioned the recent dry spell running in crypto distance and volatility may be the current scenario that is pulling it down but the distress cycle might come to an end quite soon as the institutional players have voiced their ardent interest in purchasing cryptocurrencies. .
It is gaining adoption and a number of people have begun using BTCs in real time, such as buying a Lamborghini or even buying a mansion. It is simple 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 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.
As the marketplace is experiencing explosive conditions, we should back up the prediction right here with the market experts, who have been the mind and center of their cryptocurrency marketplace.
John McAfee, the founder of the popular McAfee software and an ardent Bitcoin follower predicted that Bitcoin will strike $1 million by 2020 following past years prediction of $7000 which was well surpassed.