While attention focuses on $100,000, few remember that BTC/USD has now been in five figures for over 365 days. Bitcoin (BTC) has now traded above $10,000 for an entire year, as expectations demand $100,000 before the end of 2021. While hodlers impatiently wait for new all-time highs, BTC price action is celebrating the first of what is likely many anniversaries. On Thursday, BTC/USD officially hit 365 days trading in five figures.
A year ago, on Sept. 9, 2020, the largest cryptocurrency slowly eased into the $10,000 zone, never to return. A month later, it was only $1,000 higher, but fast forward to the end of Q4 2020, and the situation was entirely different — Bitcoin traded at $28,000.
The transformation is widely anticipated to repeat itself this year. As Cointelegraph reported, even a “worst case scenario” for BTC/USD is $135,000 by Jan. 1, 2022. Even legacy finance has come round to the concept of bullish continuation, notably this month in the form of Standard Chartered, which forecast a cyclical top of $100,000 this year. Zooming out, the predictions get even higher. Cathie Wood, founder, CEO and chief investment officer of Ark Invest, believes that Bitcoin will hav hit $500,000 by 2026.
At the time of writing, BTC/USD was hovering at $47,500, having beaten out what some feared would be solid resistance overnight. With profitable days, as ever, accounting for 99.9% of Bitcoin’s lifetime, few bearish voices were audible from within cryptocurrency circles five months after its most recent all-time highs.
“Despite a 50%+ sell-off experienced in May, a strong rally from the $29k lows, and now another sharp sell-off this week, HODLers appear unphased,” analytics firm Glassnode summarized in its latest weekly newsletter.
As Cointelegraph additionally noted, long-term holders now account for more of the BTC supply than at any point since before the main part of the bull market began in October. Exchange reserves, meanwhile, are at their lowest since February 2018.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 61.2% | 76 | $66 992.58 | -0.61% | -7.09% | $1 316 943 585 114 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 70% | 67 | $3 460.53 | -3.51% | -14.97% | $415 536 526 439 | ||
3 | USDT | Tether predictions | 94% | 1 | $1.000060 | 0.09% | -0.03% | $103 421 410 734 | ||
4 | SOL | Solana predictions | 65.2% | 79 | $193.58 | -1.79% | 30.89% | $85 929 324 978 | ||
5 | BNB | Binance Coin predictions | 56% | 90 | $544.83 | -1.94% | 3.76% | $81 472 706 980 | ||
6 | XRP | XRP predictions | 69.6% | 60 | $0.626474 | 2.99% | -12.03% | $34 330 911 383 | ||
7 | USDC | USD Coin predictions | 94.8% | 2 | $1.000015 | 0% | 0% | $31 191 764 844 | ||
8 | ADA | Cardano predictions | 61.2% | 75 | $0.648175 | -2.52% | -15.54% | $23 051 773 097 | ||
9 | AVAX | Avalanche predictions | 63.2% | 73 | $59.60 | 6.31% | 22.83% | $22 486 065 995 | ||
10 | DOGE | Dogecoin predictions | 58% | 90 | $0.140321 | -6.81% | -21.50% | $20 139 550 275 | ||
11 | SHIB | SHIBA INU predictions | 59.2% | 94 | $0.000026 | -8.66% | -22.81% | $15 387 028 340 | ||
12 | DOT | Polkadot predictions | 61.6% | 88 | $9.61 | -2.64% | -11.82% | $13 677 725 355 | ||
13 | TON | Toncoin predictions | 63.6% | 70 | $3.77 | -0.57% | 12.36% | $13 088 446 944 | ||
14 | WTRX | Wrapped TRON predictions | 85.6% | 21 | $0.123991 | -1.45% | -7.07% | $10 890 189 708 | ||
15 | TRX | TRON predictions | 84.4% | 19 | $0.123908 | -1.57% | -7.44% | $10 882 923 329 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.