The most famous cryptocurrency in the world has been declared "dead" more than 400 times in the past few years.
BTC has been "buried" 415 times in the past 14 years. Image: MSN
BTC has experienced many ups and downs over the past 14 years, but it has never stopped proving its strength and growth potential.
BTC has been declared "dead" 415 times in the mainstream media, with the first publication dating back to October 2010, when BTC was only worth $0.11 per coin.
The number of times BTC has received an "obituary". Source: Bitcoindeaths.com (02/12/2024)
However, BTC has remained resilient and is fighting to reach $100,000. To put it in perspective, if someone had invested $100 in BTC during the periods when it was "buried", that money would now be worth over $101 million, according to data from Bitcoindeaths.com.
The latest peak the king coin has set was $99,588 on November 22. BTC is predicted to break the $100,000 mark in the coming months.
1D chart of the BTC/USDT pair on the Binance exchange at 01:20 PM on 02/12/2024
However, no one is certain whether this will happen before the end of 2024. Szymon Sypniewicz, CEO of Ramp Network, believes the milestone after the number could become a reality, but there will be a lot of volatility in the market before reaching that goal.
An important factor driving the value of BTC is
the global money supply increase, estimated to grow by over $20 trillion in January 2026.
Based on historical data, BTC has absorbed around 10% of the new money printed, a figure that could reach $2 trillion flowing into BTC in the future. Analysts, such as Jamie Coutts from Real Vision, forecast that BTC could surpass $132,000 in the next cycle.
Forecast of BTC reaching $132,000 based on M2 money supply growth. Source: Jamie Coutts
In summary, although BTC still faces negative predictions, the long-term outlook is very optimistic. With the increase in the global money supply and the strong recovery in its value, BTC may continue to conquer important price levels and achieve new milestones in the future.
Compiled by Coin68
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