Bitcoin is on the rise despite being predicted “dead” over 400 times. The cryptocurrency reached a price of $96,700, overcoming predictions that it would stay below $92,000. According to data from Bitcoindeaths.com, every $100 investment in Bitcoin when it was last predicted dead would have returned over $101 million.
Bitcoin staged an over 5.9% recovery and surpassed $97,500 as of November 29, according to Cointelegraph and TradingView data. Analysts had predicted a 30% drawdown before resuming its upward battle toward the $100,000 price tag.
The growing global money supply is expected to increase by over $20 trillion by January 2026, potentially attracting an additional $2 trillion worth of investment into Bitcoin. This could set up Bitcoin for a potential cycle top above $132,000, according to Jamie Coutts, chief crypto analyst at Real Vision.
While some predict Bitcoin will surpass the $100,000 mark in the next couple of months, others believe it’s uncertain whether it will happen before the end of 2024. Szymon Sypniewicz, co-founder and CEO of Ramp Network, notes that the market may experience ups and downs along the way.
Source: https://cointelegraph.com/news/bitcoin-nears-100k-defying-415-death-predictions