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Bitcoin's Resilience: Overcoming 415 'Deaths' And Potential Future Growth

30/11/2024 14:03

According to Odaily, Bitcoin has been declared 'dead' 415 times over the past 14 years, with the first instance dating back to October 2010 when its trading price was merely $0.11. An analysis by Bitcoindeaths reveals that if an investor had put $100 into Bitcoin each time it was pronounced dead, the total return today would exceed $101 million. This highlights the cryptocurrency's remarkable resilience and potential for substantial returns despite frequent skepticism. Industry analysts suggest that the continuous increase in global money supply could significantly impact Bitcoin's future trajectory. It is projected that by January 2026, the global money supply will grow by more than $20 trillion. This expansion may attract an additional $2 trillion in investments into Bitcoin, potentially serving as a catalyst for its price increase. The anticipated influx of capital underscores the growing interest and confidence in Bitcoin as a viable investment option, despite its volatile history and frequent declarations of its demise.

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