The clock is ticking on Bitcoin's total supply. According to Bitcoin historian Pete Rizzo, there are now officially less than 1.2 million BTC left to be mined. Rizzo’s observation highlights Bitcoin's defining feature — its scarcity, which is a key factor in its value proposition. As the supply dwindles, the potential for increased demand could drive its price higher.
JUST IN: THERE ARE NOW OFFICIALLY LESS THAN 1.2 MILLION #BITCOIN LEFT TO BE MINED
Absolute scarcity 🚀 pic.twitter.com/XOcLeWGo8Y
Bitcoin's total supply is capped at 21 million coins, a design set by its pseudonymous creator, Satoshi Nakamoto. With 19.8 million BTC already mined, the remaining 1.2 million represents less than 6% of the total supply.
HOT Stories Ripple USD (RLUSD) Stablecoin Gets Listed on Major Exchange 67 Trillion Shiba Inu (SHIB) Level About to Disappear Binance Just Dropped 11 Pairs: Is Your Token Affected? Bitcoin Reserve Is ‘Hopium Hallucination,’ Blockchain Expert Says
The Bitcoin halving event, which occurs every four years, reduces the already limited supply even more. During a halving, the reward for mining new blocks is reduced by half, slowing the rate at which new Bitcoins enter circulation.
Related
Mon, 12/23/2024 - 16:33 Bitcoin to Hit $250,000? Here Are 2025 Market Predictions
Tomiwabold Olajide
The next Bitcoin halving is projected to occur on April 17, 2028, at a block height of 1,050,000. When this happens, the Bitcoin block reward will be slashed to 1.5625. The last Bitcoin halving occurred on April 20, 2024, at block height 840,000, with the Bitcoin block reward halved from 6.25 to 3.125.
With less than 1.2 million BTC left to mine, experts predict that the last Bitcoin will be mined around 2140, based on the current pace of block production and the halving schedule. This long-term horizon guarantees that Bitcoin's scarcity will remain a distinguishing quality for decades to come.
What's next for Bitcoin price?
According to CryptoQuant, the Coinbase Premium indicator has plummeted to -0.221%, marking the fifth time since late May. This drop indicates reduced buying pressure from U.S. investors compared to Binance investors.
Related
Fri, 12/20/2024 - 16:27 Bitcoin (BTC) Hourly Death Cross Emerges: Details
Tomiwabold Olajide
However, in the past, this tendency has only lasted during bull markets, attracting new buyers who saw it as an opportunity.
Recent on-chain data, according to CryptoQuant, also reveals an interesting trend: although considerable amounts of Tether (USDT) are leaving exchanges, a large inflow of Bitcoin (BTC) has been detected entering exchanges. Furthermore, despite the recent dramatic price decline, spot markets are experiencing continued selling pressure.
This confluence of reasons suggests that Bitcoin's price could fall further in the immediate term. However, from a macroeconomic standpoint, there does not appear to be a catalyst for a sustained bearish trend following this short-term correction.
At the time of writing, Bitcoin was trading at $94,856.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
