When it comes to conventional markets such as the forex market per se, it is a highly centralized and regulated entity. It means that every move that is made regarding a specific currency is because the very state where the currency is valid has a say in it. Take the dollar, for example; at this very moment, the inflation in the United States, as well as the rest of the globe, is at an all-time high. As a result, the printing of more money is being carried out, which is not necessarily right and is adding to this burning oven that is inflation.
Bitcoin, on the other hand, being a member of the crypto market means that it is completely decentralized, and no one state, entity, or financial enterprise has any control over the cryptocurrency. Back in the day when Bitcoin was launched, and the very concept of decentralization was proposed, the token was made available in a particular number, and there can’t be more bitcoins exceeding that specific number which was made available when the mining first began. According to the present data, about 90% of all the bitcoins to ever exist on the planet have now been mined.
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Bitcoin’s Price is Going to Spike as Scarcity Increase
This means that 90% of Bitcoin is already available and in circulation. As for the remaining 10%, the crypto analysts are sure that it would take about 119 more years to be mined. Knowing that only 10% of the Bitcoin is remaining that can be mined or expected to act as a reserve for the cryptocurrency, the price of the Bitcoin is only going to take a surge. It is only the rule of the market that when something is in scarcity and its demand is increasing, its price and value take an instant surge.
Bitcoin is believed to be the most accurate monetary instrument ever developed because of its cutting-edge mathematical certainty and being free from the clutches of politics. There are only 21 million coins out there regarding Bitcoin, which means that this specific cryptocurrency will always remain deflationary; how new bitcoins are issued, the very code for this is already programmed into the Bitcoin network. So what this thing means is that there are a limited number of Bitcoin tokens, most of them have been mined, and therefore its scarcity is going to become more apparent in the coming days.