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When the market realizes that Bitcoins readily available provide is even less than the mined coins in circulation and 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 illustrates the breakdown of the current Bitcoin supply and also 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 top estimateand 2.78 million based on a reduced one.
Note that the graph below is a log chart, these graphs are great for cryptocurrencies in general because their movements are fast and the prices are volatile so that a log chart is the best to appreciate the movement and tune off volatility and noise.  TOP CRYPTOCURRENCIES TO BUY: Which top crypto hints are flashing a BUY signal now Which to avoid top notch guidance on how to play the grand bull market in crypto from InvestingHaven's research group, only for $2 per week. Crypto & Blockchain investing service >>.
The previous month of 2018 has started and BTC remains on its downtrend. The main reason precisely what the crypto people are pointing out to is not getting a green light from the SEC regarding the BTC ETF. However, 2019 is what the crypto enthusiasts are looking forward to. Even NASDAQ, the second biggest 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 that there is a possibility that FUD(Fear, Uncertainty and Doubt) might loom over crypto space in 2019, in which Barry Ritholtz called the prediction by specialists wrong and absurd. Inspite of the too, analysts and enthusiasts kept their hopes . Mike Novogratz said explicitly that he thinks 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 is 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 the 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 cost. 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 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 started using BTCs in real time, such as buying a Lamborghini or buying a mansion. It is easy as well as advanced. Once you understand the technology behind it, you will definitely adopt the beauty of the digital currency.
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Bitcoin prices are fluctuating. It is trading at $3909.89 from the all-time of $20000. The ever-fluctuating Bitcoin made many involved in the price prediction of Bitcoin.
As the market is experiencing explosive conditions, we should back up the prediction with the marketplace experts, who've been in 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.