Bitcoin Supply Is Getting Rare, BTC Can Break 100,000 US Dollars

Bitcoin supply is only 21 million coins while investor demand is getting higher. (Photo; Doc. Bullbap)

JAKARTA - Bitcoin is getting more and more flashy because the price of BTC has been showing impressive performance in recent weeks. A number of crypto analysts predict Bitcoin could reach a price of more than US$100,000 (around Rp1.6 billion) in the near future. The rise in BTC prices cannot be separated from the scarcity factor of digital coins made by the anonymous figure Satoshi Nakamoto.

For your information, the total supply of Bitcoin only has 21 million coins. According to CoinMarketCap data on December 4, currently the number of Bitcoins circulating in the market is 19.79 million BTC. The rest is stored in crypto wallets and most of them can be generated from Bitcoin mining activities. The increasing demand for investors for Bitcoin will make these digital assets increasingly scarce, resulting in an increase in price.

Fundstrate's Chief Investment Officer, Tom Lee, stated that the limited supply of Bitcoin in the market could be a decisive factor when prices exceeded the US$100.000 mark. According to Lee, this condition could trigger significant supply shortages. "Many parties, including crypto exchanges, are concerned about the decreasing Bitcoin available in the market," Lee explained, quoted by CNBC.

As the Bitcoin price approaches to US$100, Lee predicts that there will be a "tracing" from investors looking to get Bitcoin. He added that this might trigger a price spike in a short time.

Not only that, Tom Lee also talked about his long-term prediction for Bitcoin. He projects that in the next 12 months, the price of Bitcoin could rise to 150% from the current price, meaning Bitcoin could still reach 250,000 US dollars (approximately IDR 4 billion). Lee argues that the potential price increase is very likely to be achieved, given the ever-increasing Bitcoin price cycle.

At the time of writing, Bitcoin is in the range of US$95,844 (around Rp1.53 billion). This figure is getting closer to the psychological price of US$100,000, which is expected to be an important turning point for the next Bitcoin price movement.