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Bitcoin has now been above $10K for a whole year

Bitcoin (BTC) has now traded above $10,000 for a whole 12 months, as expectancies demand $100,000 earlier than the give up of 2021.

While hodlers impatiently watch for new all-time highs, BTC fee motion is celebrating the primary of what’s in all likelihood many anniversaries.
BTC/USD: One 12 months in 5 figures

On Thursday, BTC/USD formally hit twelve months buying and selling in 5 figures.

A 12 months ago, on Sept. 9, 2020, the most important cryptocurrency slowly eased into the $10,000 zone, in no way to return.
BTC/USD 1-week candle chart (Bitstamp). Source: TradingView

A month later, it turned into only $1,000 higher, however speedy ahead to the give up of Q4 2020, and the state of affairs turned into completely different — Bitcoin traded at $28,000.

The transformation is extensively expected to copy itself this 12 months. As Cointelegraph reported, even a “worst case scenario” for BTC/USD is $135,000 through Jan. 1, 2022.

Even legacy finance has come spherical to the idea of bullish continuation, drastically this month withinside the shape of Standard Chartered, which forecast a cyclical pinnacle of $100,000 this 12 months.

Zooming out, the predictions get even higher. Cathie Wood, founder, CEO and leader funding officer of Ark Invest, believes that Bitcoin will hav hit $500,000 through 2026.
Hodlers “unfazed”

At the time of writing, BTC/USD turned into soaring at $47,500, having crushed out what a few feared might be stable resistance overnight.

Related: Bearish pennant breakdown confirmed? five matters to look at in Bitcoin this week

With worthwhile days, as ever, accounting for 99.9% of Bitcoin’s lifetime, few bearish voices have been audible from inside cryptocurrency circles 5 months after its maximum latest all-time highs.

“Despite a 50%+ sell-off skilled in May, a sturdy rally from the $29k lows, and now some other sharp sell-off this week, HODLers seem unphased,” analytics company Glassnode summarized in its cutting-edge weekly newsletter.

As Cointelegraph moreover noted, long-time period holders now account for extra of the BTC deliver than at any factor considering that earlier than the primary a part of the bull marketplace started out in October. Exchange reserves, meanwhile, are at their lowest considering that February 2018.