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At the moment, there are over 5 million Bitcoin users in the world. Each day, thousands more are joining and all of them are more than open to start trading and making money. And if you are into numbers, heres another one. Some statistics have shown that there may be as many as 100,000 Bitcoin millionaires in the world. All of these people have made their fortune by trading with this cryptocurrency.

While Bitcoin continues to break records in value and rises above any other product or service, many of us question when will Bitcoins reign end. We wanted to take a look at this case and check out one potential year that is set to mark its end. Before we do that, we are going to take a look at its current state.

At the moment, Bitcoin is in a near-perfect state. First of all, it is accepted as a payment method at many global brands. This contributes a lot towards its stability and ensures its prosperity. Some of the names that deserve a mention are Tesla, Expedia, Microsoft, Wikipedia, Starbucks, Overstock, Whole Foods, and Shopify.

While it may boast many advantages as a payment method, the main reason why so many people use it is that it provides them with a chance to make a handsome profit. Bitcoin is currently valued at around $60,000 and everyone is willing to start trading with it and begin their journey towards making money.

Many traders chances of making a profit have been increased recently thanks to the advanced services that some trading sites have. One of those sites is The News Spy, a reputable trading platform that has thousands of registered users from all around the world and has a very high daily profitability rate.

This trading site utilizes an advanced AI system that is able to analyze the market and collect all relevant data about Bitcoin. The data is then used to make accurate predictions on its future fluctuations. After the research is complete, the results are shared with the traders, who have intel on when is the best time to sell their Bitcoins and generate the highest possible revenue.

Many experts believe that not only will Bitcoin maintain its stability, but it will continue to rise. History showed us that Bitcoin reaches its peak value exactly a year and a half after halving events end. Because the last halving event was in May 2020, it is expected that the peak value will be reached in the final quarter of 2021.

There are also several predictions about the potential price that it will reach. The most eye-catching figure is $100,000. Considering the fact that Bitcoins value fluctuates between $50,000 and $60,000 these days, this cryptocurrency may truly have the potential to reach a six-figure value for the first time in its history.

As for the year when Bitcoins reign will supposedly end, it will most likely be 2140. Heres why. At the heart of these claims lies halving events. The next three halving events are set to take place in 2024, 2028, and 2032. Experts believe that by 2032, around 99% of all Bitcoins will be mined.

However, it will take until 2140 for that number to reach 100%. At this point, there will be no other Bitcoins to be created and released into the network. Now, that doesnt mean that Bitcoin will suddenly disappear and make it look like nothing ever happened.

On the contrary, it is believed that in this period, it will finally stabilize and reach an optimal value. In doing so, its volatility rate will be significantly lower and it will not be subject to so many radical changes. Just a reminder, at the moment, Bitcoins price can rise and fall by the thousands with each passing day. That wont be the case in the distant future.

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When Is Bitcoin's Reign Going to End? - Analytics Insight

Though billionaire investor Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has previously expressed concern about the future of bitcoin, he has also noted that the cryptocurrency earned his respect.

Now, he reveals, "I have some bitcoin," Dalio told CoinDesk during its 2021 Consensus conference. The interview was recorded on May 6 and published Monday.

But Dalio maintains that the cryptocurrency still faces risk.

"Bitcoin's greatest risk is its success," he said.

And if it succeeds, "one of the great things, I think, as a worry is the government having the capacity to control ... bitcoin, or the digital currencies. They know where they are, and they know what's going on," he said.

"The more we create savings in [bitcoin], the more you might say, 'I'd rather have bitcoin than the bond.' Personally, I'd rather have bitcoin than a bond. And then the more that happens, then it goes into bitcoin and it doesn't go into credit, then [governments] lose control of that."

This isn't the first time Dalio expressed concern about the risk of government regulation.

"I am not a bitcoin/cryptocurrency expert," he wrote in aJanuary posttitled "What I Think of Bitcoin," but "I suspect that Bitcoin's biggest risk is being successful, because if it's successful, the government will try to kill it and they have a lot of power to succeed."

In March, Dalio warned of the possibility that the U.S. government could ban bitcoin as it did with gold during the 1930s if the cryptocurrency is seen as a competitive threat to Treasury bonds.

However, James Ledbetter, editor of fintech newsletter FIN and a CNBC contributor, previously toldCNBC Make Itthat it'd be quite difficult for the government to effectively ban bitcoin.

Although there's "concern or risk around regulation" of bitcoin, "I don't think even a concerted effort among different countries and different central banks could actually shut down bitcoin," Ledbetter said. "I don't think that's technologically possible. But there are ways that bitcoin could be regulated."

Nonetheless, "the world is going to change at an incredibly fast pace," Dalio told CoinDesk. "Whoever wins the technology race, wins it all, economically, and militarily. That's what the next five years looks like."

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Billionaire Ray Dalio says he owns bitcoin, and its 'greatest risk is its success' - CNBC

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The price of bitcoin briefly climbed back above $40,000 on Wednesday morning, a week after its price tumbled 30% to around $30,000.

The world's most popular cryptocurrency traded 6.9% higher at $40,196.06 at 9:00 a.m. ET on Wednesday, according to Coin Metrics data. Bitcoin was last trading about 2.3% higher at $38,469.84 by 4:05 p.m. ET.

Other major digital coins were also in the green Wednesday. Ethereum's price jumped about 7.2% higher to $2,735.71, while dogecoin's price was 1.8% higher at 34 cents a coin.

Last week's crypto sell-off came after authorities in China and the U.S. moved to tighten regulation and tax compliance on cryptocurrencies.

Chinese authorities called on Friday for tighter regulation on crypto mining and trading, reinforcing rules announced in 2017, and the U.S. Treasury announced Thursday that it would require stricter crypto compliance with the IRS.

But the cryptocurrency market is trying to recover some of the losses this week after it plunged again on Sunday to almost $31,000.

Bitcoin's latest price rise comes after Tesla CEO Elon Musk said Monday he spoke to bitcoin miners in North America about renewable energy solutions. Elsewhere, hedge fund billionaire Ray Dalio said in an article published on Monday that he has some bitcoin.

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Bitcoin hovers around $40,000 after a wild week of trading - CNBC

Although the price of bitcoin has partly rebounded after last week's rout, the digital currrency remains well off its April 13 high of nearly $65,000. In early trading on Monday bitcoin fetched $38,477, up 12% from the previous day, according to Coindesk.com.

The extreme volatility that has marked bitcoin's emergence in recent years was on full display when its price plunged as much as 29% earlier this month after financial regulators in China banned domestic banks and other financial institutions from supporting bitcoin. That includes processing payments, allowing customers to hold bitcoin in their accounts and converting bitcoin into yuan or any other currency.

Such roller-coaster swings in bitcoin and other cryptocurrencies, which have also been buffeted of late, is raising questions about their risks as investments and viability as financial assets. Here's what you should know.

A on May 18 statement posted on the Chinese Banking Association's website said financial institutions should "resolutely refrain" from providing services using digital currencies because of their volatility.

Virtually every cryptocurrency fell after the industry group's statement. Bitcoin slumped to $30,202 before recovering to $38,038, down 12% on the day, according to Coindesk. Most cryptocurrencies lost between 7% and 22% of their value and shares of Coinbase dropped 5.4%.

And China isn't the only country clamping down on cryptocurrencies. Many banks in the Middle East are also barred from dealing in bitcoin, while U.S., regulators appear to be leaning toward more actively monitoring cryptocurrencies. On Thursday, the Treasury Department said it would require businesses to report any bitcoin payment over $10,000, citing an effort to crack down on tax evasion.

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The value of bitcoin can change by thousands of dollars in a short time period. On the last trading day of 2020, bitcoin closed just under $30,000. In mid-April, it flirted with $65,000. The price bounced around after that, with some notable swings, before taking a decidedly negative turn last week.

Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who "mine" them by lending computing power to verify other users' transactions. They receive bitcoins in exchange. The coins also can be bought and sold on exchanges with U.S. dollars and other currencies. Some businesses take bitcoin as payment, and a number of financial institutions allow it in their clients' portfolios, but overall mainstream acceptance is still limited.

Bitcoins are basically lines of computer code that are digitally signed each time they travel from one owner to the next. Transactions can be made anonymously, making the currency popular with libertarians as well as tech enthusiasts, speculators and criminals.

Bitcoins have to be stored in a digital wallet, either online through an exchange like Coinbase, or offline on a hard drive using specialized software. According to Coinbase, there are about 18.7 million bitcoins in circulation and only 21 million will ever exist. The reason for that is unclear, and where all the bitcoins are is anyone's guess.

Yes, and a fairly big one. Musk announced in February that his electric car company Tesla had invested $1.5 billion in bitcoin. In March, Tesla began accepting bitcoin as payment. Those actions contributed to the run-up in bitcoin's price, and Musk also promoted the digital currency Dogecoin, which also spiked in value.

However, Musk reversed course in just a short time, saying last week that Tesla would stop accepting bitcoin because of the potential environmental damage that can result from bitcoin mining. The announcement sent bitcoin falling below $50,000 and set the tone for the big pullback in most cryptocurrencies.

A number of bitcoin fans pushed back on Musk's reasoning. Fellow billionaire Mark Cuban said that gold mining is much more damaging to the environment than the mining of bitcoin.

A 2019 study by the Technical University of Munich and the Massachusetts Institute of Technology found that the bitcoin network generates an amount of CO2 similar to a large Western city or an entire developing country like Sri Lanka. But a University of Cambridge study last year estimated that on average, 39% of "proof-of-work" crypto mining was powered by renewable energy, primarily hydroelectric energy.

The digital payment company Square and its CEO Jack Dorsey also the CEO of Twitter have been big proponents of bitcoin. Overstock.com also accepts bitcoin, and in February, BNY Mellon, the oldest bank in the U.S., said it would include digital currencies in the services it provides to clients. And Mastercard said it would start supporting "select crypto currencies" on its network.

Bitcoin has become popular enough that more than 300,000 transactions typically occur in an average day, according to bitcoin wallet site blockchain.info. Still, its popularity is low compared with cash and credit cards.

Yes, plenty of it. Tracking bitcoin's price is obviously easier than trying to figure out its value, which is why so many institutions, experts and traders are skeptical about it and cryptocurrency in general. Digital currencies were seen as replacements for paper money, but that hasn't happened so far.

Federal Reserve Chair Jerome Powell has said the central bank prefers to call crypto coins "crypto assets," because their volatility undermines their ability to store value, a basic function of a currency.

While some banks and financial services companies are getting in on it, others are staying away.

Regulators aren't very worried about a possible crash in digital currencies dragging down the rest of the financial system or economy.

Even with the recent sell-off, digital currencies have a market value of about $1.5 trillion, according to the website coinmarketcap.com. But that pales compared with the $46.9 trillion stock market, $41.3 trillion residential real estate market and nearly $21 trillion Treasury market at the start of the year.

The European Central Bank said Wednesday that the risk of cryptocurrencies affecting the financial system's stability looks "limited at present." In large part, that's because they're still not widely used for payments and institutions under its purview still have little exposure to crypto-linked instruments.

Earlier this month, the Federal Reserve said a survey of market contacts found roughly one in five cited cryptocurrencies as a potential shock to the system over the next 12 to 18 months. That's a turnaround from the fall, when a similar survey found none mentioning cryptocurrencies.

Washington officials have been talking about regulating digital currencies more, and worries about a heavier hand have played a role in the recent swoon in prices.

Gary Gensler, who took over as chairman of the Securities and Exchange Commission last month, has said that cryptocurrency markets would benefit from more oversight to protect investors.

In a hearing before the House's financial services committee earlier this month, Gensler said neither the SEC nor the Commodity Futures Trading Commission, which he used to head, has a "regulatory framework" for trading on cryptocurrency exchanges yet. He said he thought Congress would ultimately have to address it because "there's really not protection against fraud or manipulation."

It's a mystery. Bitcoin was launched in 2009 by a person or group of people operating under the name Satoshi Nakamoto. Bitcoin was then adopted by a small clutch of enthusiasts. Nakamoto dropped off the map as bitcoin began to attract widespread attention. But proponents say that doesn't matter: The currency obeys its own internal logic.

In 2016, An Australian entrepreneur stepped forward and claimed to be the founder of bitcoin, only to say days later that he did not "have the courage" to publish proof that he is. No one has claimed credit for the currency since.

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Why is the price of bitcoin and other cryptocurrencies falling? - CBS News