The supply shock is happening before our eyes

There is this expectation that one day someone is going to want to buy bitcoin and their will be none for sale which will skyrocket Bitcoin price until people find an attractive enough price to sell. In reality, that binary outcome is more subtle. The amount of bitcoin taken off the exchanges are already reflected in the price and will continue to do so. Will be interesting to see where supply is in the next few months. My prediction is that exchanges will fall below 2 million bitcoin before the end of the year.