Only 2 Million Bitcoin Left to be Mined Within a Projected Timeline of 118yrs

The Bitcoin (BTC) network has continued to grow in all metrics, particularly its mining industry. For a coin that was launched back in 2009, a total of 19 million of the total 21 million of the coin’s maximum supply has been mined, leaving barely 2 million before the generation of Bitcoin ceases for good.


Herein lies the twist, while it took the past 13 years to mine the 19 million BTC on record, the remaining two million are not expected to be mined until at least the next 118 years. This is based on the original protocol design by Satoshi Nakamoto, the pseudonymous developer known as the founder of the BTC network. 

Per the widespread projections, the last bit of Bitcoins is not going to be mined until February 2140, a time when so many things are billed to change in the BTC network. One of these is the scarcity of digital currency, which will undoubtedly change the entire economics of the network.

The Deal for Miners

In the continuous depletion of the Bitcoin supply, a lot of focus has been on the miners or validators in the network, who are those who stand to benefit directly or become impacted by the changing dynamics. 

At the moment, miners get rewarded for successfully completing a set of transactions within a block. At the moment, the block reward is pegged at 6.25 BTC, down from about 50 BTC more than a decade ago when mining started. The incentivization mechanics has been reduced through halving, whereby the rewards paid out to miners are reduced by half every four years.

The last halving took place in May 2020, and the next, which will further reduce the reward to 3.125 BTC, is projected to come sometime in 2024. As the total minable BTC continues to deplete, miners are poised to tilt towards getting rewards via the transaction fees, a billed model to complement the value growth in the digital currency as a whole.

At the time of writing, the circulation of BTC supply mined now sits at 19,002,175 atop, trading around $46.2K, dropping around 0.32%.

Image source: Shutterstock


Tagged : / / /

Bitcoin Halving To Bring The Subsequent Crypto Frenzy

According to Thailand’s largest digital asset exchange, the world’s largest cryptocurrency, Bitcoin, will go through another significant run in 2024 when it goes through yet another halving. This means that Bitcoin will substantially increase during this period. As a result, we might see even higher levels than we’ve seen thus far. 

Related Reading: Bitcoin Halving Will Stir Next Crypto Frenzy

The halving is a process that occurs every four years. During the procedure, new token creation slows down to 50%. Additionally, many people believe this leads to Bitcoin price gains.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“The next halving is expected to bring about a “golden period” for Bitcoin in 2024-2025,” said Jirayut Srupsrisopa, CEO of Bitkub Capital Group. The golden period starts six months after the next halving when token creation cuts down by half.

However, digital tokens may suffer from a short period where the market is corrected and volatile as liquidity tightens. The result squeezes the fund inflows. Primarily by retail investors seeking safe-haven assets during these uncertain times, but it will not last forever.

“Institutional interest in the cryptocurrency market has caused it to change drastically,” said Jirayut, who also argued that this is because of a “big increase” with many institutions’ involvement. He cofounded Bitkub, valued at $1 billion last November, and works as its CEO for a Bangkok-based company.

Get 110 USDT Futures Bonus for FREE!

Thailand To Ban Cryptocurrencies 

Bitcoin was on a tear last year, gaining thousands of dollars every few weeks until it hit almost $69K in November. However, things have been much more stagnant since then, with prices sitting just below where they were in November – around $38K or so at this writing. Some people say that the decline is due to less Federal Reserve stimulus prospectively, which benefited other assets during pandemic times. However, it may have had an effect now because everyone wants stability before investing heavily into anything again.

Bitcoin Price
Bitcoin trying to break $40K support to fly high. Source:

Regulators worldwide have started to tighten their oversight of digital asset activity. One such example is Thailand, which plans on banning its citizens from using cryptocurrencies as payment for goods and services in an effortless move that may help boost tourism there.

Related Reading | Ethereum Classic Displayed Double-Digit Gains; What’s Next!

The country’s finance ministry has forbidden banks from dealing with cryptocurrencies. Also ordered them instead to avoid direct involvement. In addition, the government will start collecting taxes on profits from trading digital assets. The process will establish regulations for an emerging market.

In response to regulator authorities, Jirayut said;

“Regulators are trying to use the old framework to govern new invention. But, unfortunately, that doesn’t always work. Countries without the right policies would drive innovation away, push the opportunity away.”

                  Featured image from Pixabay, chart from


Tagged : / / / / / / /

Bitcoin bull market ‘2nd leg has started,’ says BTC price model creator

Bitcoin (BTC) marking a new high of $67,000 last week has opened the possibility of hitting $100,000 by the end of this year.

PlanB, creator of the popular Bitcoin Stock-to-Flow (S2F) model, called Bitcoin’s price retracement from the $60,000-level the “2nd leg” of what appeared like a long-term bull market.

In doing so, the pseudonymous analyst cited S2F, which anticipates Bitcoin to continue its leg higher and reach $100,000 to $135,000 by the end of the year.

The price projection model insists that Bitcoin’s value will keep on growing until at least $288,000 per token due to the “halving,” an event that takes place every four years and reduces BTC’s issuance rate by half against its 21 million supply cap. 

Bitcoin after the 2012, 2016 and 2020 halving. Source: PlanB

Notably, Bitcoin has undergone three halvings so far: in 2012, 2016 and 2020.

Each event decreased the cryptocurrency’s new supply rate by 50%, which was followed by notable increases in BTC price. For instance, the first two halvings prompted BTC price to rise by over 10,000% and 2,960%, respectively.

The third halving caused the price to jump from $8,787 to as high as $66,999, a 667.50% increase. So far, S2F has been largely accurate in predicting Bitcoin’s price trajectory, as shown in the chart below, leaving bulls with higher hopes that Bitcoin’s post-halving rally will have its price cross the $100,000 mark.

Bitcoin S2F as of Oct. 26. Source: PlanB

PlanB noted earlier this year that Bitcoin will reach $98,000 by November and $135,000 by December, adding that the only thing that would stop the cryptocurrency from hitting a six-digit value is “a black swan event” that the market has not seen in the last decade.

An 80% crash later

Despite the high price projections, Bitcoin can still see big corrections in the future. PlanB thinks the next crash could wipe at least 80% off Bitcoin’s market capitalization, based on the same S2F model.

Related: COVID-19 vaccine will spark Bitcoin ‘crash’ — Rich Dad Poor Dad author

“Everybody hopes for the supercycle or the ‘hyperbitcoinization’ to start right now and that we do not have a big crash after next all-time highs,” the analyst told the Unchained podcast, adding.

“As much as I would hope that were true, that we don’t see that crash anymore, I think we will. […] I think we’ll be managed by greed right now and fear later on and see another minus 80% after we top out at a couple hundred thousand dollars.”

BTC/USD daily price chart. Source: TradingView

But not everyone thinks the next correction will be as dramatic as the previous ones. Dan Morehead, CEO of Pantera Capital, said in mid-October that the next Bitcoin price drop will be less than 80%, citing a consistent drop in selling sentiment after each halving cycle.

Last week, Bitcoin established a new record high at around $67,000 following a 53% rally in October so far. But the new highs prompted profit-taking among traders, resulting in retests of the $60,000 support level.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.