12 years ago, you could buy Bitcoin for 10 U!
Bitcoin recently hit another historic milestone. 12 years ago today, cryptocurrency enthusiasts had their last chance to buy Bitcoin for less than $10. Bitcoin historian Pete Rizzo recently shared this interesting fact on X, sparking feelings of nostalgia and wonder in the crypto community. Rizzo posted: "Fun fact: 12 years ago today, you last had the opportunity to buy Bitcoin for less than $10."
Image source: X Pete Rizzo posted that 12 years ago, there was an opportunity to buy Bitcoin for less than $10
Today, early adopters who took the plunge and invested in Bitcoin have seen explosive growth in the value of the asset. Over the past 12 years, Bitcoin's value has soared from less than $10 to nearly $74,000 (reached around mid-March), cementing its status as "digital gold." For example, 100 Bitcoins purchased in 2012 would still be worth millions of dollars today, despite recent market volatility.
The dormant wallet wakes up, and early holders receive tens of millions of rewards
On October 25, blockchain data tracking agency Whale Alert reported that a Bitcoin whale wallet that had been dormant for more than 12 years was reactivated. The wallet contained 400 Bitcoins, worth approximately $2,149 at the time, and is worth $27.28 million today. Whale Alert noted in the report: "A dormant address containing 400 Bitcoins was just activated after 12.4 years of inactivity. The wallet was worth $2,149 in 2012."
Source: Whale Alert The Bitcoin whale woke up 12 years ago and transferred 400 Bitcoins
The incident highlighted the tremendous returns that Bitcoin holders have experienced over the past decade and reignited discussions about Bitcoin’s long-term investment potential. At the time of writing, the price of Bitcoin was $69,673. Although the cryptocurrency market has generally fallen due to the impact of U.S. non-farm payroll data and the recent U.S. government investigation into stablecoin issuer Tether for allegedly violating sanctions and anti-money laundering regulations, the long-term trend of Bitcoin still attracts market attention.
Bitcoin ushered in a golden cross, is it expected to reach 100,000 next year?
Looking ahead, technical analysis shows that Bitcoin’s 50-day moving average (SMA) has converged and is expected to cross above the 200-day moving average, forming a potential “golden cross.” Historical data shows that the golden cross on October 30, 2023 doubled the value of Bitcoin to an all-time high of nearly $74,000. Market expectations are that this technical formation could once again drive Bitcoin prices higher. Copying last year’s trend, Bitcoin will have a chance to reach $100,000 by March next year.
Source: TradingView Bitcoin forms a golden cross and is predicted to reach $100,000 next year
Overall, the "counterattack" story of early Bitcoin holders not only witnessed the huge potential of the cryptocurrency market, but also inspired a new generation of investors. As Bitcoin continues to attract global attention, its future trends still deserve investors' close attention.
Further reading
Bitcoin is nearing highs and falling again! Search interest is still sluggish? Don't worry! The bull market has just begun
Will Bitcoin take a break before rising again? 5 major indicators reveal the upward trend, will it reach a new high before 2025?
Bitcoin white paper turns 16! How did BTC, born out of desperate circumstances, trigger a global revolution?
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
