90% of Bitcoin is mined and the rest takes 120 years

According to data from Blockchain.com, as of Monday, 90% of all Bitcoin transactions have been mined, 12 years after the birth of the first Bitcoin.

This means that out of a maximum of 21 million Bitcoins, approximately 18.9 million Bitcoins have been mined. However, according to CoinDesk, according to network forecasts and Bitcoin halving plans, mining the remaining 10% of Bitcoin will take almost 120 years and will not be completed until February 2140..

Halving Bitcoin means that the number of new Bitcoins in circulation is halved, which happened about four years ago.

This halving process will make the "review" more difficult. Currently, Bitcoin miners can receive up to 6.25 Bitcoins for each block mined, but by 2024 that number will be halved.

At the same time, he estimates that 20% of Bitcoin is "lost" and cannot be recovered. As a result, the number of Bitcoins in the open market will not reach 21 million.

The price of Bitcoin continued its recent decline, falling 5.8% below $ 48,000 on Monday. Bitcoin fell 27% last week. Despite the recent massive selloff, some crypto market bulls still expect Bitcoin to rise due to its value being held.