Bitcoin has now been above $10K for a whole year

Bitcoin (BTC), which has traded over $10,000 in a single year, is expected to trade for $100,000 by 2021.

Hodlers wait impatiently for new all time highs, while BTC price action celebrates the first of many anniversaries.

BTC/USD: One Year in Five Figures

Thursday’s official BTC/USD trading volume reached five figures for 365 days.

One year ago, September 9, 2020, the largest cryptocurrency gradually slipped into the $10,000 range. It has never recovered.

BTC/USD 1-week candle chart (Bitstamp). Source: TradingView

It was $1,000 lower a month later. But fast forward to Q4 2020 and the situation was completely different — Bitcoin was trading at $28,000

It is expected that the transformation will repeat itself in 2018. Cointelegraph reported that even the “worst-case scenario” for BTC/USD would be $135,000 by January 1, 2022.

Even legacy finance is beginning to accept the idea of bullish continuation. This month, Standard Chartered forecast a cyclical peak of $100,000.

Peak high predictions for this bull cycle:#Bitcoin to $275,000-350,000 #Ethereum to $7,500-12,500#Polkadot to $100-150#Chainlink to $100-150 -> #Cardano to $3-5#Zilliqa to $0.80-1.20#Ripple to $0.50-0.60 Predictions from January, #Cardano will probably go to $10. https://t.co/NksnLIEQo4
— Michael van de Poppe (@CryptoMichNL) September 12, 2021

The predictions go up if you zoom out. Cathie Wood is Ark Invest’s founder, CEO, and chief investment officer. She believes Bitcoin will reach $500,000 by 2026.

Hodlers “unfazed”

BTC/USD hovered at $47,500 at the time of writing. This was after it had beaten what many feared would be a solid resistance overnight.

Related: Bearish pennant collapse confirmed? Five things to keep an eye on in Bitcoin this week

Five months after Bitcoin’s most recent all-time highs, there were few bearish voices in cryptocurrency circles. Profitable days, as always, account for 99.9% Bitcoin’s entire lifetime.

“Despite a more than 50% sell-off in May, a strong rally to the $29k lows and now another sharp sell off this week, HODLers seem unphased,” Glassnode, an analytics firm, stated in its weekly newsletter.

Cointelegraph also noted that long-term holders now account more of the BTC supply today than ever before October, when the bull market started. In the meantime, exchange reserves are at their lowest level since February 2018.

https://cointelegraph.com/news/bitcoin-has-now-been-above-10k-for-a-whole-year

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Donna Burk

Donna Burk– Business News My Name is Donna Burk and I am also the main source from the ‘Dailynewssheet.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami