Bitcoin declared dead 415 times, but now aims for $132,000

Bitcoin, the world's most famous crypto, is on the verge of reaching the symbolic $100,000 mark, defying many predictions of its death. Indeed, over the past 14 years, Bitcoin has been declared “dead” more than 415 times by various media outlets and analysts. Despite these pessimistic predictions, Bitcoin recently crossed the $97,000 mark, solidifying its status as a store of value.

Bitcoin defies predictions!

Since its inception in 2009, Bitcoin has gone through a lot of turbulence, but it has always managed to bounce back. In October 2010, when Bitcoin was worth just $0.11, the first news 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 durable asset. Analysts are divided on whether Bitcoin will reach $100,000 before the end of 2024. Some predict that Bitcoin could see a 30% correction before resuming its run towards that token mark.

BTC at $132,000?

Some analysts are rather optimistic and believe that BTC could exceed $100,000 in the coming months, especially if market conditions remain favorable. And a key factor that could propel Bitcoin beyond that $100,000 is the increase in global monetary supply. The global monetary supply is projected to reach $127 trillion in January 2026.

Historically, bitcoin has captured around 10% of the new money supply printed, which could attract an additional $2 trillion in investment into BTC. Jamie Coutts, a crypto analyst, predicts that this increase in monetary supply could push Bitcoin to a cyclical high of over $132,000.

In short, despite numerous predictions of its death, Bitcoin continues to defy expectations and approach $100,000. Whether before the end of the year or in the coming months, BTC remains a major player in the crypto market, attracting the attention of investors around the world.