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Nine years ago, “Death Call” was launched. Bitcoin When it was only $400. This negative prognosis, which predicted that Bitcoin was about to collapse, has been proven spectacularly wrong as Bitcoin continues to boom and reach new highs.
Nine years ago, on January 19, 2016, The Washington Post published an article titled "RIP Bitcoin. Time to Move On," declaring the end of Bitcoin when it was worth roughly $400. Today, Bitcoin has defied that expectation, reaching an all-time high of $108,268 last December.
Bitcoin historian Pete Rizzo He highlighted this fact on X, where he shared a screenshot of a 2016 article that reflects how the narrative around Bitcoin has changed dramatically over the years. The article's claim, made during a period of uncertainty regarding cryptocurrencies, highlights the stark contrast between past doubts and current reality.
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Bitcoin has gone on an amazing journey since that call. From a value of $400, Bitcoin has risen significantly, currently trading above $103,000. Bitcoin has once again crossed the $2 trillion mark with a market cap of $2.05 trillion. This remarkable growth has been fueled by increased adoption, institutional interest, and growing recognition of Bitcoin's potential as a store of value.
Bitcoin price forecast
At the time of writing, Bitcoin It rose 6.25% in the past 24 hours to $104,164. At Bitcoin's current price, it is trading above the one-year average of $90,900 according to Glassnode, suggesting that the market is still in a bullish phase, although it has slowed slightly from the recent euphoric levels above the upper range.
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Bitcoin outlook remains bullish; Over the past few days, Bitcoin price action has validated two key levels identified by on-chain data – support at $89,000, while closely aligned with the short-term holder's realized price at $88,500 and resistance just below $98,000, which is The largest accumulation level above the spot price.
Due to Bitcoin's recent correction, a large percentage of the foam has exited the market, according to Glassnode, while demand has remained relatively strong.
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