Bitcoin (BTC) is now trading above $ 10,000 year-round, as expectations are for $ 100,000 before the end of 2021.
As sellers impatiently wait for new all-time highs, BTC price action celebrates the first of many likely anniversaries.
BTC / USD: One year in five digits
On Thursday, BTC / USD officially hit the 365-day mark in the five-digit range.
A year ago, on September 9, 2020, the largest cryptocurrency slowly fell to the $ 10,000 region and never returned.
A month later, it was just over $ 1,000, but fast-forwarding to the end of the fourth quarter of 2020, the situation is completely different – Bitcoin is trading at $ 28,000.
The transformation should repeat itself this year. As Cointelegraph reported, even the “worst case” for BTC / USD is $ 135,000 on Jan 1, 2022.
Even legacy funding has turned into a bullish concept, especially this month in the form of Standard Chartered, which is forecasting a cyclical high of $ 100,000 this year.
The highest predictions for this bull cycle:#Bitcoin up to $ 275,000-350,000 # Ether up to $ 7,500-12,500#Speckle up to $ 100-150#Chain link up to $ 100-150
-> #Cardano up to $ 3-5#Zilliqa to $ 0.80-1.20#Wave to $ 0.50-0.60
Forecast from January, #Cardano maybe up to $ 10. https://t.co/NksnLIEQo4
– Michaël van de Poppe (@CryptoMichNL) September 12, 2021
Zoom out, the predictions are even higher. Cathie Wood, Founder, CEO and Chief Investment Officer of Ark Invest, believes Bitcoin will hit $ 500,000 by 2026.
At the time of writing, BTC / USD is hovering at $ 47,500 after some fears hit solid resistance overnight.
Related: Bearish Pennant Problem Confirmed? 5 things to see in Bitcoin this week
With profitable days, which as always make up 99.9% of the life of Bitcoin, very little negative voice can be heard in crypto circles five months after its recent all-time high.
“Despite a sell-off of more than 50% in May, a strong rebound from lows of $ 29,000 and now another strong sell-off this week, HODLers don’t seem to be bothered,” summarizes analysts Glassnode in its latest weekly newsletter.
As Cointelegraph further noted, long-term owners are now seeing more BTC supply than ever before the bulk of the bull market began in October.