The award in the bitcoin network will be halved in about two years. What will this mean in the future?
The current bear market provides investors with opportunities to buy and hold bitcoin since last week the rate is at a minimum. The market is now suffering from sales and FUD, and in general from the bearish trend.
The cost of bitcoin on the bottom, but the interest from institutional investors is growing. Goldman Sachs opens a crypto-currency trading board, JPMorgan also plans to move toward crypto-currency, and this can only be the tip of the iceberg.
When all the bitcoins
Somewhere last month, the number of bitcoins produced reached 17 million. The number of BTC will reach its peak at 21 million by around 2140 – the amount of electricity, time and computational power needed to obtain new coins is constantly growing.
Mining compensation is reduced by 2 times every 210,000 units, and therefore new bitcoins are created more slowly and slowly. It is estimated that next time this will happen on May 28, 2020. Remuneration will be reduced from 12.5 coins to 6.25. By this time, the number of BTCs produced will be 18,375,000, or 87.5% of the final number.
The last opportunity to buy Bitcoin
Further, the speed of appearance of new coins will fall exponentially, in connection with which the demand for them will grow. According to analysts, after 2020, bears will practically leave the market.
Trevor Wade, cryptanalyst:
“The current bear market is the last opportunity for investors to buy bitcoin until the rate has risen above $ 10,000. Reducing the rewards for the blocks will lead to a decline in supply, and demand will go up, which is why the growth rate will go exponentially.”