Bitcoin is the largest digital currency in the market. It is prominent for numerous reasons and has captivated the attention of major institutional investors as well as minor entities.
The digital asset has been experiencing some ups and downs in its price as analysts wait for it to retouch and retain the $50,000 region. The flagship crypto asset is currently trading at $48,024 (at the time of writing).
Here is a graph by CoinGecko that shows the price of BTC over the last month.
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Is There a Possibility of Bitcoin Shortage?
Bitcoin is one of the most significant digital currencies in the market and it has been adopted by many institutions, companies and individuals. Shortage of this digital asset has never happened in real life, however, there might be a high chance of it now.
Bitcoin has already risen above several doubts people had about it and the utility it has to offer. With time, BTC’s popularity is highly likely to increase, making it even more prominent. Once it reaches that level, it is anticipated to be adopted by governments as well as companies as a reserve fund.
At the moment, only companies with an innovative approach to the future of finance have dipped their toes in the Bitcoin pool. Companies such as Tesla, Square and MicroStrategy are among the current BTC investors.
However, it is speculated to become a normal practice in the near future. If this occurs, Bitcoin’s value is likely to increase along with its demand, which is unlikely to be met.
Another reason that can indicate a shortage of BTC is the millions of Bitcoin misplaced by people who lost their hardware wallets. The BTC halving is also just around the corner, which can further contribute to the reduction in the number of BTC mined.
Is This a Cause for Concern?
Many BTC enthusiasts and analysts anticipate that the value and importance of Bitcoin are set to surge higher. This is beneficial for people who have already stepped into the crypto space and invested in the flagship crypto asset.
However, nothing can be said with certainty considering the crypto market is quite unpredictable. Therefore, despite the speculations of a shortage of BTC on exchanges in the future, you should not be concerned just yet.
These speculations are yet to play out in real-time, which will then also start the implementation of different solutions.
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