May 30th 2020. A date to remeber

I've been having a lot of fun researching peoples views of Bitcoin from 2012-2015. The most optimistic of people were predicting Bitcoin to rise as high as $11,000 by 2018, but nobody could even imagine it going up to nearly $20,000. Most predictions were around 3-5k.

The people who predicted numbers above 5k often mentioned the halving of bitcoin which happened mid 2016. Simple supply and demand states that if you have less of a product and demand stays the same, then the price will go higher (which it did for the next year and a half). Before the halving in 2016, 25 BTC would be mined every 10 minutes and after the halving that number dropped to 12.5 BTC every 10 minutes.

There are currently about 4,000,000 BTC left to be mined and roughly 17,000,000 in circulation. After the halving on May 30th, 2020, there will only be about 3,000,000 BTC to be mined over the next 120 years even though we are only 12 years into this journey.

As production slows, I think it is very possible that the price moves up even faster than we saw in late 2017. Thats why I plan to hodl all of my bitcoin until well after this date.

Another awesome thing about this date is the fact that it lands on my 30th birthday, which is also my golden birthday. I hope Bitcoin turns it into a spectacular year for me and everyone else involved.

Thanks for reading!