but is the increasing adoption and mainstream interest of bitcoin influenced by the fomo on the price driving up? or is the recent rapid increase of price a result of increasing mainstream adoption?

despite the fact that there are multiple events and factors that influence the price of bitcoin, i believe there has to be something out there that influences the price more than anything else. and if it's anything that has a long-term impact on the price more than anything else, it's the block reward.

the laws of supply and demand dictate that the decrease of bitcoins being generated will increase the value of each individual bitcoin. people tend to want something more if it's harder to acquire. i can promise you that, this is coming from someone who collects rare/simple usernames on various social media platforms just because their availability extremely limited. value does not exist outside the consciousness of man, and wanting something that isn't easy to get only makes you human.

this is a crazy projection i have in mind, i don't know how accurate this theory will turnout to be, and please call me an idiot if you disagree with me, but i think i may have recognized a long-term pattern in the price of bitcoin.

this thought popped in my head when i was digging through the roots of cryptocurrency out of curiosity and boredom, and ever since i found this pattern i can't stop thinking about it. i'd love to hear the opinions of this from real crypto experts/aficionados.

as most of you know, the block reward currently stands at BTC12.5 and gets cut in half every 210,000 blocks. i always knew about this and didn't think much of it. that was until i came across this passage from an archive of bitcoin.org as it appeared in early 2009—just weeks after the first block was mined—which i believe was written by satoshi himself.


i am not 100% sure if this was actually written by satoshi, but whether it was or wasn't, it still comes from a very credible source. what really boggled my mind was the fact that whoever wrote this didn't mention anything about the mining reward halving every 210,000 blocks, but instead roughly estimated it halving every 4 years. their prediction didn't seem to be too far off, considering the fact that the first halving occurred in the fall of 2012, and the second one occurring during the summer of 2016.

but this really made me think long and hard... could it be possible that the halving of the block reward impacts the price of bitcoin in significant ways? i mean when you fast forward 4 years after the blockchain was born, in 2013, it went from being as low as ~$14 to astonishingly rising as high as $1,100+ all within the same year. and fast forward another 4 years to 2017, we see another astonishing jump in the price, with lows being under $900 and highs surging past $19,000 in the same year.

based off all of this information, i honestly can't see the rest of 2018 being a good year for the crypto market—as much as i hate saying it, because it goes against everything i'm invested in. but that isn't going to stop me from hodling, because i think 2021 will be the year we finally get to see bitcoin pass $100,000.

please let me know your thoughts on this. i hope my prediction ends up being right, and if i'm wrong, then so be it. i'm confident about this theory enough to put my money where my mouth is—unless one of you crypto geniuses talks me out of this crazy way of thinking.