Based

Bitcoin

when

Bitcoin is once again battling toward a six-figure price tag despite being pronounced “dead” over 400 times during the past 14 years.
Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) was pronounced dead 415 times by mainstream media sources, with the first publication dating back to October 2010, when BTC was trading for just $0.11.
Looking at Bitcoin’s historic returns, this means that every $100 investment in Bitcoin when it was pronounced dead would have amounted to a total of over $101 million, <a data-ct-non-breakable="null" href="https://bitcoindeaths.com/" rel="null" target="null" text="null" title="null">according</a> to data from Bitcoindeaths.com
<figure>
 <img alt="Bitcoin was pronounced dead 415 times, now it battles for $100K" src="https://s3.cointelegraph.com/uploads/2024-11/01937831-e262-7bdb-a0d2-17a4c55050ff" title="">
 <figcaption style="text-align: center;">
 Declarations that Bitcoin is dead. Source: Bitcoindeaths.com
 </figcaption>
</figure>
Despite the gloomy predictions, Bitcoin staged an over 5.9% recovery from $92,000 to surpass $97,500 as of 12:15 pm UTC on Nov. 29, Cointelegraph and TradingView data shows.
<figure>
 <img alt="Bitcoin was pronounced dead 415 times, now it battles for $100K" src="https://s3.cointelegraph.com/uploads/2024-11/01937831-a825-72a1-aed6-6b1d3fbe31e6" title="">
 <figcaption style="text-align: center;">
 BTC/USD, 1-month chart. Source: Cointelegraph/TradingView
 </figcaption>
</figure>
This comes as a positive signal for Bitcoin’s price, as some analysts predicted that Bitcoin’s current correction <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-30-correction-ahead-100k-btc-rally-analysts" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-30-correction-ahead-100k-btc-rally-analysts">may result in a 30% drawdown</a> before resuming its upward battle toward the $100,000 price tag.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/operation-chokepoint-crypto-banking-restrictions" rel="" target="_self" text="null" title="https://cointelegraph.com/news/operation-chokepoint-crypto-banking-restrictions">Crypto founders share debanking stories during ‘Operation Chokepoint 2.0’</a>
<h2 id="bitcoin-battles-toward-100-000-high">Bitcoin battles toward $100,000 high</h2>
Bitcoin was just $200 away from reaching the $100,000 all-time high on Nov. 22 when it surpassed the $99,800 high — prompting analyst predictions that Bitcoin <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-to-breach-100-k-in-nov-trump-mulls-crypto-friendly-cftc-chair-finance-redefined-nov-8-15" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-to-breach-100-k-in-nov-trump-mulls-crypto-friendly-cftc-chair-finance-redefined-nov-8-15">will surpass $100,000 in the next couple of months</a>.
However, it is uncertain whether Bitcoin can cross above the six-figure mark before the end of 2024, despite the optimistic long-term outlook, according to Szymon Sypniewicz, co-founder and CEO of Ramp Network.
He told Cointelegraph:&nbsp;
<blockquote>
 “While reaching $110,000 for Bitcoin seems inevitable at some point, it’s uncertain whether it will happen before the end of the year, as we can expect the market to experience some ups and downs along the way.”
</blockquote>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ether-price-surpass-4000-trump-inauguration" rel="" target="_self" text="null" title="https://cointelegraph.com/news/ether-price-surpass-4000-trump-inauguration">Ether to breach $4K before Trump’s inauguration — Analyst</a>
Another catalyst for Bitcoin is the growing global money supply, which is projected to increase by over $20 trillion by January 2026.
<figure>
 <img alt="Bitcoin was pronounced dead 415 times, now it battles for $100K" src="https://s3.cointelegraph.com/uploads/2024-11/01937831-169d-77ad-83ad-4b2bd7463bad" title="">
 <figcaption style="text-align: center;">
 BTC projection to $132,000 on M2 money supply growth. Source: Jamie Coutts
 </figcaption>
</figure>
Based on historical analysis, this may attract an additional <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-2-trillion-investment-2025-liquidity-injections" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-2-trillion-investment-2025-liquidity-injections">$2 trillion worth of investment</a> into Bitcoin, which has previously captured around 10% of the newly printed money supply.
The growing money supply could set up Bitcoin for a potential cycle top of above $132,000, according to Jamie Coutts, chief crypto analyst at Real Vision.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoins-100k-taxman-btc-commodity-china-vitalik-moo-deng-asia-express/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/bitcoins-100k-taxman-btc-commodity-china-vitalik-moo-deng-asia-express/">Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia Express</a>

Bitcoin was pronounced dead 415 times, now it battles for $100K

Table of Contents

Cointelegraph

Other articles published on Nov 29, 2024

Pump fun Hits All-Time High Revenue of $82.8M in November

Cryptos First Ever Auction Going Viral with a $450k Raised in 24hrs

Solana Memecoin Santa Trump Will Skyrocket 15,000% Ahead of Exchange Listing, As Dogecoin and PEP...

Best Cryptos To Buy This Week: Qubetics’ $3.5M Presale, Ethereum Bulls Aim For $4,500, And Cronos...

Turn $50K Into $30M—Qubetics Presale Dominates as Fantom Gains 12% and Theta Targets $20

Hydration Unveils Decentralized Borrowing Platform on Polkadot (29 Nov)

Join our free newsletter for daily crypto updates!