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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 entire source that 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 the article is a fantastic read featuring a new study of lost 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.
Note that the graph below is a log chart, these charts are great for cryptocurrencies in general since their movements are fast and the prices are volatile so a log graph is the best to appreciate the movement and tune off volatility and noise.  TOP CRYPTOCURRENCIES TO BUY: Which best crypto hints are flashing a BUY signal now Which to avoid top notch guidance on how to play with the grand bull market in crypto out of InvestingHaven's research group, only for $2 per week. Crypto & Blockchain investing service >>.
The last month of 2018 has begun and BTC remains 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. But, 2019 is exactly what the crypto enthusiasts are looking forward to. Even NASDAQ, the second biggest 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 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 the also, analysts and enthusiasts kept their hopes . Mike Novogratz said expressly that he thinks there is going to be big 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 is going to accept tax payments in BTC wherein the 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 realm made a wager on Bitcoin a year ago 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's pulling it down but the distress cycle may come to an end quite soon as 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 even buying a mansion. It is 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 is trading at $3909.89 click for more info from its all-time of 20000. The ever-fluctuating Bitcoin made many involved in the price forecast of Bitcoin.
Since the market is experiencing explosive conditions, we should back up the prediction with the market experts, who've been the mind and center 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.