Bitcoin Declared Dead 415 Times, but Now Aims for $132,000

Bitcoin, the most famous cryptocurrency in the world, is about to reach the symbolic milestone of $100,000, thus defying numerous predictions of its demise. Indeed, over the past 14 years, Bitcoin has been declared “dead” more than 415 times by various media and analysts. Despite these pessimistic forecasts, BTC recently surpassed the $97,000 mark, thereby reinforcing its status as a store of value.

Bitcoin Defies Predictions!

Since its creation in 2009, Bitcoin has gone through numerous turbulences, but it has always managed to bounce back. In October 2010, when Bitcoin was worth only $0.11, the first announcements of its death began to appear. Today, an investment of $100 at that time would be worth more than $101 million.

This resilience in the face of criticism and market fluctuations has solidified BTC’s reputation as a robust and sustainable asset. Analysts are divided on whether Bitcoin will reach $100,000 before the end of 2024. Some predict that BTC could experience a 30% correction before resuming its march toward this symbolic mark.

BTC at $132,000?

Some analysts are rather optimistic and estimate that BTC could exceed $100,000 in the coming months, especially if market conditions remain favorable. A key factor that could propel Bitcoin beyond this $100,000 mark is the increase in the global money supply. According to projections, the global money supply is expected to reach $127 trillion by January 2026.

Historically, Bitcoin has captured about 10% of the newly printed money supply, which could attract an additional $2 trillion in investments into BTC. Jamie Coutts, a crypto analyst, predicts that this increase in the money supply could push Bitcoin to a cyclical peak of over $132,000.

In summary, despite the numerous predictions of its demise, Bitcoin continues to defy expectations and approach $100,000. Whether it happens before the end of the year or in the coming months, BTC remains a major player in the crypto market, capturing the attention of investors worldwide.