If the above title about BTC price troubled you, you might have to trim your leverages. No one is calling for a $1,000 target for the leading crypto. Instead, this article remembers and celebrates the 9th anniversary since Bitcoin crossed above $1,000 for the first time.
9 Years Ago – Bitcoin Breaks Beyond $1K
While writing this news, Bitcoin traversed its 4th ever-bear market while hovering around the $16K vicinity. The asset’s sentiment took a massive beating since the dramatic crash dragged BTC from its 2021 ATH of $69K.
It shouldn’t be unusual to see crypto Twitter assigning $1,000 as a BTC target in the coming days. However, this article isn’t about predicting BTC’s future targets but the journey the top alt has had since surpassing $1,000. 27 November 2013 (nine years ago) session saw Bitcoin overcoming $1K.
The value area proved essential then, with BTC-USD hovering beyond it within ten days before the onset of the 2014-2015 bearish market. Meanwhile, it took over 1000 days for Bitcoin to overpower $1K again. However, the leading crypto enjoyed increased popularity after a move beyond the resistance.
$1K or $1M – Where Next for BTC?
$1K per BTC-USD was substantial for various reasons. It was a rounded, massive figure in United States dollars, though 1 $BTC was nearly the cost of a gold ounce during the time. Meanwhile, Bitcoin exploded after surpassing $1K again, surging about $2,000% to approach the $20K mark.
Five years later, Bitcoin trades beneath the 2017 bullish market peak. The crypto stays over 16,000% higher from the $1K milestone to its current price at $16K per $BTC. Moreover, BTC has gained over 150,000,000 since its launch. Despite that, there are predictions for BTC revisiting $1K as there are to hit $1M per token, making Bitcoin a fascinating speculative digital asset.
The cryptocurrency market battled for recovery during this publication. Bitcoin changes hands at $16,462, gaining 1.64% over the past day. Also, the global cryptocurrency market capitalization increased by 1.98% in that timeframe to $834.94 billion. Only time will confirm the upcoming market direction.
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