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As domestic regulations on virtual currency trading platforms operating overseas have tightened, Bitcoin's price has taken a significant hit. Reports indicate that Bitcoin has once again dropped below the $8,000 mark. This decline comes at a time when the global supply of Bitcoin is nearing its limit, with only 4.2 million coins remaining to be mined—marking what many are calling the final phase for miners.
January 13 marked a key milestone in Bitcoin’s history. By the end of the day, 16.8 million Bitcoins had been mined, accounting for 80% of the total supply. This means that only 4.2 million remain available for mining, signaling the end of the mining era for this digital asset.
In his 2008 Bitcoin White Paper, Satoshi Nakamoto outlined that the total supply of Bitcoin would be capped at 21 million. This design introduced a concept of digital scarcity into the world of cryptocurrency. As more Bitcoin is mined, the remaining supply becomes increasingly limited, which can drive up demand and, consequently, value. This scarcity principle is one of the core reasons why Bitcoin is often compared to digital gold.
Bitcoin experienced another sharp drop yesterday, falling below $8,000 once again. In January alone, the price fell by around 30%, and compared to its peak of $20,000 in December 2023, it has lost nearly 57% of its value. These fluctuations highlight the importance of careful consideration when investing in volatile assets like Bitcoin. Investors should always assess their risk tolerance and stay informed about market trends.