At the moment, there are over 5 million Bitcoin users in the world. Each day, thousands more are joining and all of them are more than open to start trading and making money. And if you are into numbers, here’s another one. Some statistics have shown that there may be as many as 100,000 Bitcoin millionaires in the world. All of these people have made their fortune by trading with this cryptocurrency.
While Bitcoin continues to break records in value and rises above any other product or service, many of us question when will Bitcoin’s reign end. We wanted to take a look at this case and check out one potential year that is set to mark its end. Before we do that, we are going to take a look at its current state.
Current State
At the moment, Bitcoin is in a near-perfect state. First of all, it is accepted as a payment method at many global brands. This contributes a lot towards its stability and ensures its prosperity. Some of the names that deserve a mention are Tesla, Expedia, Microsoft, Wikipedia, Starbucks, Overstock, Whole Foods, and Shopify.
While it may boast many advantages as a payment method, the main reason why so many people use it is that it provides them with a chance to make a handsome profit. Bitcoin is currently valued at around $60,000 and everyone is willing to start trading with it and begin their journey towards making money.
Many traders’ chances of making a profit have been increased recently thanks to the advanced services that some trading sites have. One of those sites is The News Spy, a reputable trading platform that has thousands of registered users from all around the world and has a very high daily profitability rate.
This trading site utilizes an advanced AI system that is able to analyze the market and collect all relevant data about Bitcoin. The data is then used to make accurate predictions on its future fluctuations. After the research is complete, the results are shared with the traders, who have intel on when is the best time to sell their Bitcoins and generate the highest possible revenue.
End of 2021 Projections
Many experts believe that not only will Bitcoin maintain its stability, but it will continue to rise. History showed us that Bitcoin reaches its peak value exactly a year and a half after halving events end. Because the last halving event was in May 2020, it is expected that the peak value will be reached in the final quarter of 2021.
There are also several predictions about the potential price that it will reach. The most eye-catching figure is $100,000. Considering the fact that Bitcoin’s value fluctuates between $50,000 and $60,000 these days, this cryptocurrency may truly have the potential to reach a six-figure value for the first time in its history.
Why 2140 Is The Year?
As for the year when Bitcoin’s reign will supposedly end, it will most likely be 2140. Here’s why. At the heart of these claims lies halving events. The next three halving events are set to take place in 2024, 2028, and 2032. Experts believe that by 2032, around 99% of all Bitcoins will be mined.
However, it will take until 2140 for that number to reach 100%. At this point, there will be no other Bitcoins to be created and released into the network. Now, that doesn’t mean that Bitcoin will suddenly disappear and make it look like nothing ever happened.
On the contrary, it is believed that in this period, it will finally stabilize and reach an optimal value. In doing so, its volatility rate will be significantly lower and it will not be subject to so many radical changes. Just a reminder, at the moment, Bitcoin’s price can rise and fall by the thousands with each passing day. That won’t be the case in the distant future.
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