Bitcoin (BTC) Last Seen Under $10,000 Four Years Ago Today

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U.Today
07-26

Four years ago today, Bitcoin (BTC) was last seen trading below the $10,000 mark, marking a significant turning point in its price history. Bitcoin historian Pete Rizzo posted this milestone as a fun fact on X, reminding the crypto community of how far Bitcoin has come.

In July 2020, after months of trading below $10,000, Bitcoin began a price run that would later define its history. Bitcoin surpassed the $10,000 mark and would later reach highs above $65,000 in the months that followed - specifically, in April 2021.

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BTC/USD Monthly Chart, Courtesy: TradingView

Bitcoin subsequently waved goodbye to the sub-$10,000 level, a threshold it has not revisited since. Reflecting on this, Rizzo tweeted, "4 years ago today, you had your last chance to buy Bitcoin under $10,000."

FUN FACT: 4 years ago today, you had your last chance to buy #Bitcoin under $10,000 ✨ pic.twitter.com/sJ06BmMieG

— The Bitcoin Historian (@pete_rizzo_) July 26, 2024

Since then, Bitcoin has experienced tremendous growth, bidding farewell to the sub-$10,000 level, a price point that now appears to be a distant memory.

From subsequent highs of nearly $65,000 in April 2021 to the declines that followed and then highs above $69,000 in November 2021, the 2022 bear market and its current all-time highs of nearly $74,000 in mid-March, Bitcoin's journey has been nothing short of captivating.

More to come? VanEck predicts $2.9 million BTC price

At the time of writing, BTC was up 4.58% in the last 24 hours to $67,166, as the crypto market fended off further falls late Thursday. While Bitcoin faces uncertainty in the very short term, asset manager VanEck has made a bold call on BTC's price in a 26-year prediction.

VanEck, an issuer of spot Bitcoin and Ethereum ETFs, predicts that BTC's price might reach $2.9 million by 2050 if some significant hurdles are cleared.

According to VanEck's estimates in a Wednesday report, Bitcoin might become a vital part of the world monetary system in the coming decades.

If events unfold as VanEck predicts, Bitcoin's price might climb by nearly 44 times, gaining 16% annually from its present price of above $67,000, and its market capitalization might skyrocket to $61 trillion.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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