WILL BITCOIN INCREASE 12,000% IN THE NEXT 10 YEARS?
Despite witnessing such a huge increase, financial experts believe that it would be "silly" to expect that in the next 10 years, the price of Bitcoin will continue to increase by 12,000%, meaning 1 Bitcoin will cost nearly 150,000 USD. The total GDP of the entire world will only reach more than 100,000 billion USD in 2023, so this assumption seems very unlikely to happen.
Bitcoin's fixed supply limit will be the most attractive element of this digital currency. Globally, the total supply of Bitcoin is limited to 21,000,000 BTC coins. This number cannot be changed by anyone, including the founder Satoshi Nakamoto. As of April 2024, there have been about 19.7 million BTC mined and only about 1 million BTC left unmined.
And after the upcoming halving, Bitcoin's supply growth rate will be lower than that of gold. (halving is the periodic reduction of the block subsidy provided to miners). Halving helps ensure that crypto assets will follow a stable issuance rate until maximum supply is reached.
When the supply of a certain good is lower and all else remains constant, the price will increase as people try to buy more. Therefore, technical experts believe that Bitcoin will also develop similarly.
