đHow Bitcoin makes it to $100,000đ
Assuming this halving plays out like previous ones, we should get awfully close to the coveted $100,000 price tag. However, we must account for another variable: Bitcoin's existing supply levels.
While around 19.6 million bitcoins are technically in circulation today, only 2.3 million are readily available for purchase on exchanges. This is the lowest level seen since early 2018. More importantly, such low levels mean that the upcoming halving will be the first time in Bitcoin's history that there are fewer coins on the market than during the previous halving.
For all of Bitcoin's history, the total supply on exchanges grew, even as halvings passed. But that changed in 2020 when an apparent decline formed. The explanation for this is multifaceted, but the most concise one is that demand has finally started to outpace supply.
Now, the digital coin's historically low supply will come under even greater pressure with a halving on the horizon. While the halving holds the potential to push it close to $100,000, the added impact of a supply shortage will likely prove to be extra fuel it needs to reach six figures.
