Just saw this tweet and am now just wondering why aren't the laws of supply and demand kicking in if 90% of the bitcoins are almost mined ?
Shouldn't the bitcoin markets be bullish by now as demand would be high by now and supply is reaching a point where it can no longer grow?
with 90% is mined meaning only 10% left. then 'supply/demand' basic math would be 10x of the price of when the first coin was mined.
because there is 10X less supply left to be produced.
the price however is over 400,000x the price of 2009. .. so i think the laws of supply demand are working.
i wont go into the finer details that the market price, is only established by the current price of one market order lines offering of under 1btc at any one time. and not the entire coins ever made.
nor that the supply/demand that affects the market price of the top orderline is limited to only the colection of orderlines of what exchanges have on deposit, rather than the entire coins created.
put simply market prices are established by the supply of the market(exchange) not by the entire networks coins
but just be thankful that the price is over 400,000x more then the price in 2009