For the first time ever Bitcoin itself has locked in a 1 TRILLION dollar market cap.
Back in 2017 I remember thinking wow just imagine if all of crypto is at 1 Trillion. It's now at 1.6Trillion across all well tracked cryptos.
Every bitcoin you own is now worth over $55,000 and the next goal in sight for many seems to be $100,000! That means doubling the market cap to 2 Trillion+ why + ? Because more bitcoin is being mined each day which increases the supply so the market cap has to continue to climb in order to offset this to earn $100,000
The other important factor I would like to point out on the picture above is the max supply and total supply. Now with only 2,366,000 more bitcoin to be mined before no others are mined. That's about 11% left to be mined not much at all!
What's going to be very interesting is the next halving event that takes place for bitcoin. This is currently expected to happen about 3 years from now in 2024. It's honestly fun sitting here and just thinking about what the possibilities and price of bitcoin could be when that happens and what kind of world we live in.
This will bring the reward block down to 3.125 BTC per block. I'll be curious what happens then with miners. Will the reward block be to low or will prices hold making it valuable enough. I'm also sure nothing will be done about the Fees and you can expect bitcoin to have skyrocketing fees with large transactions instead of micro. This will help to reward those who secure the blockchain but will it be enough for will 2024 start to see changes in how bitcoin is mined or even put it at risk of attack as some might start mining other cryptos instead.
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