Bitcoin Breaks new Milestones

As of Monday morning, over 18.89 Bitcoins have officially been mined. This means 90% of Bitcoin’s total supply is now on the open market. In this piece, we will take a look at some of the mining milestones throughout Bitcoin’s history, as well as Bitcoin’s halving schedule.

What is a Halving Schedule

Halving events are among the most pivotal events which take place on many blockchains, such as the Bitcoin blockchain. When Bitcoin transactions are mined, the miner receives a reward for processing transactions and storing them in the blockchain ledger. A halving event is when the reward for mining Bitcoin transactions is cut in half. Halving events occur after every 210,000 blocks are mined, which takes place roughly every four years.

Since the reward for mining Bitcoin is cut in half, the inflation rate of Bitcoin is respectively cut in half as well. This is because after a halving event, takes twice as much time for new Bitcoins to enter circulation. One of the most profound factors of Bitcoins halving events has to do with their correlation to Bitcoin’s price cycles. Having events usually occur with intense “boom and bust” cycles which have so far ended with Bitcoin discovering higher market caps than those discovered prior to the event.

This chart highlights the price action we have seen take place after previous Bitcoin halving events.

Bitcoin Milestones

The first Bitcoin tokens were mined on January 9th, 2009, which is inarguably the greatest event in Bitcoin’s history. It has taken nearly 12 years for Bitcoin to reach where it is today. Even though it took a little over a decade for 90% of Bitcoin’s supply to be mined, it is going to take quite a bit longer for us to see 100% of Bitcoin’s total supply hit the open market. In fact, no one who is reading this article now – at the time of its publishing – will be around to see this event take place. Bitcoin is not expected to be fully mined until February of 2140. That’s 119 years from now.

Not all Bitcoins Will be Available

One of the greatest characteristics of Bitcoin is its inherent scarcity. By the time Bitcoin is completely mined, it will naturally become a deflationary asset. According to the cryptocurrency analytics firm Chainalysis, 3.7 million Bitcoins have already been “lost.” This is due to people forgetting their wallet addresses, loosing physical storage devices like hard drives or air gapped cold storage wallets, or simply sending Bitcoin to the wrong address and simply shooting the transaction strait into cyberspace. Furthermore, another one million Bitcoin are still held in a wallet owned by the Bitcoin creator Satoshi Nakamoto, which the creator(s) had mined in the early days of the cryptocurrency.

Conclusion

Bitcoin’s total supply being mined to the 90% mark is a huge psychological milestone. This is the perfect time to begin utilizing Killer Whale Products such as Killer Whale Gain BTC to get the most out of the future price action of Bitcoin. Be sure to check out the Killer Whale Products Page to see which Killer Whale Signals and Strategies are right for you! If you are looking to get the most out of your cryptocurrency trading experience, check out Killer Whale Premium Signals to get the advantage of navigating the cryptocurrency markets exactly like a Killer Whale!

Killer Whale Crypto

CHANGE THE WAY YOU TRADE