If BTC is corrected to 11 million units, Bitcoin would be valued at $ 10,300 now

goldmine2018 (2)in #bitcoin • 6 years ago (edited)

Under normal circumstances there is an important principle that determines the value of products, the principle of supply and demand. If there is a great demand for a product where the supply is scarce, the price will rise. Because people are then more willing to pay a higher price. If there is sufficient supply and the demand remains limited, the price will fall. After all, they want to get rid of the stock.

This principle does not apply to Bitcoin because there are about six million BTC lost.

From July 2018, a total of six million BTCs were inaccessible and permanently lost on the bitcoin blockchain.
This means that about 28.5 percent of the fixed supply of the bitcoin is permanently lost.

21, 17, 15 or 11 million BTC?

The structure of the Bitcoin stipulates that a maximum of 21 million BTC can be mined. BTC's maximum offer can therefore not exceed 15 million BTC and from the moment that 17 million BTC are in circulation, there are only 11 million BTCs that can actually be used, sent, received and traded.

With a decreasing supply and stable demand, it would be logical that the price would be higher. That this does not happen, the value of the BTC decreases when we look at the price development of the past months, because there are several factors that influence the price.

At the moment, the price of BTC from 5 July 2018 is above $6,000. The price of the bitcoin is calculated on the basis of the figure of 17.13 million BTC that is theoretically in circulation. If the public offer BTC were corrected to 11 million units, Bitcoin would be valued at $ 10,300. The fact that they are not tradable therefore has no significant influence on the price. The number of Bitcoin that the founder of Bitcoin owns is also not traded and that stock also has no influence on the price development.

The Bitcoin price is now relatively very low despite the lost 6 million Bitcoin.
In the coming months and 2 years, extreme and unexpected things can happen.

Something like this?