Could Bitcoin Supplies Be Running Scarce Soon?
With BTC enjoying a little more volatility than usual in recent days, many YouTubers have once again resurfaced after their extended periods of absence. For sure, crypto news coverage in general is most certainly picking up as of late, especially with the Coronavirus and BTC Halvening hitting the headlines. However, a couple of articles stood out for me more than the rest, highlighting the fact that Bitcoin itself could soon be running out of supply for the masses, when demand returns to it's previous fever pitch levels.
And I can certainly see that happening, as we have a theoretical 17 million in circulation, of which an estimated 6 million have been lost due to poor security measures from their respective wallet holders. An interesting take, I feel, as I can easily envisage a world where this fast becomes a reality, given the billions of potential adopters on this planet. And those with deep pockets will be at a substantially greater advantage to everyone else. In the past, Bitcoin has been touted by many as being a "store of value" in the future. A digital form of gold, if you will. So maybe that is the path that the crypto currency market leader will be taking.
Another interesting thought is what effect this will have on the alts. Should the world really see it's inherent value and we all bare witness to yet another global digital cash grab forBitcoin, the price must surely skyrocket. And also, for the majority of "the era of cryoto currencies" during the last decade or so, the correlation between all the alts and Bitcoin has been rock solid. So assuming that link is upheld, being invested in any half decent altcoin should indirectly prove to be highly profitable as well. Hence it's seems like a mighty exciting opportunity to obtain some huge rewards down the line. But this, of course, needs all the right variables to remain consistent throughout. That being the growth demand for Bitcoin and its correlation with the alts.
Well, seeing as most of my portfolio is in STEEM and Hive, I'm hoping this scenario does indeed plays out. For crypto prices to rise nicely, we need a combination of reliable and justifiable project development as well as the ultimate success and mass adoption of BTC too. And the climate appears ripe for a synergy of these two important factors, to spark that breakout we are waiting for when the political and global dust settles. Oh yes, a multitude of other cryptos will also enjoy the same favourable outcome too. An surreal time to watch all this unfold, I'm sure you'd agree.
Crypto currency being the possible evolution of money and finance itself, just makes too much sense to me right now. So I honestly don't see these alluring outcomes I described above as being outside the realms of possibility. If anything, it's just a matter of time. And very possibly a short amount, at that.
