{"id":12882,"date":"2022-11-28T17:52:36","date_gmt":"2022-11-28T21:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12882"},"modified":"2022-11-28T17:52:36","modified_gmt":"2022-11-28T21:52:36","slug":"bitcoin-at-1000-looking-back-at-nine-years-of-bull-run","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/28\/bitcoin-at-1000-looking-back-at-nine-years-of-bull-run\/","title":{"rendered":"Bitcoin At $1,000: Looking Back At Nine Years Of Bull Run"},"content":{"rendered":"

If the first part of the above headline about Bitcoin price<\/a> had your heart pumping, it might be time to reduce the amount of leverage you are using.<\/p>\n

No, we aren\u2019t calling for BTC to reach a target of $1,000 \u2013 we are instead looking back and celebrating the nine-year anniversary of the first time Bitcoin breached above $1,000.<\/p>\n

Nine Years Ago: BTC Breaks Above $1,000<\/h2>\n

Bitcoin<\/a> is now in the midst of its fourth ever bear market and currently trading at a price of around $16,000 per coin. After the dramatic fall from $69,000 in late 2021 to current levels, sentiment has taken a beating. It isn\u2019t unusual to see targets on crypto Twitter for $1,000 BTC in the days ahead.<\/p>\n

Today, however, we aren\u2019t as focused on future targets for the top cryptocurrency, but the long journey Bitcoin has had from when it first passed $1,000.<\/p>\n

Nine years ago from yesterday, on November 27, 2013, BTC breached above $1,000. The level proved to be significant at the time, with BTCUSD trading above $1,000 for less than ten days before the 2014-2015 bear market started.<\/p>\n

From that point on, it was more than 1000 days before Bitcoin passed $1,000 again. But when it passed it again, Bitcoin became a household name.<\/p>\n\n

Bitcoin breached $1,000 exactly nine years ago yesterday | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Where To Next: $1K or $1M Per Bitcoin?<\/h2>\n

$1,000 per BTC was significant for several reasons. It was a large, rounded number in US dollars, but 1 BTC was almost exactly the same price of an ounce of gold at the time.<\/p>\n

After breaching above $1,000 a second time, Bitcoin went on to climb just under 2,000% to nearly $20,000 per coin. Today, five years later, BTC is below the 2017 bull market peak.<\/p>\n

Related Reading: Bitcoin At $1M By 2030: Why Cathie Wood Remains Confident In Bold Bet<\/a><\/p>\n

From the $1,000 milestone to current prices at around $16,000 per BTC, the top cryptocurrency still has more than 16,000% ROI its held onto. From its inception, it has gained more than 150,000,000% cumulatively.<\/p>\n

Despite this, there are equal calls for a revisit to the $1,000 level as there are for Bitcoin reaching $1 million per coin, making BTC the most interesting speculative asset of all-time.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

If the first part of the above headline about Bitcoin price<\/a> had your heart pumping, it might be time to reduce the amount of leverage you are using.<\/p>\n

No, we aren\u2019t calling for BTC to reach a target of $1,000 \u2013 we are instead looking back and celebrating the nine-year anniversary of the first time Bitcoin breached above $1,000.<\/p>\n

Nine Years Ago: BTC Breaks Above $1,000<\/h2>\n

Bitcoin<\/a> is now in the midst of its fourth ever bear market and currently trading at a price of around $16,000 per coin. After the dramatic fall from $69,000 in late 2021 to current levels, sentiment has taken a beating. It isn\u2019t unusual to see targets on crypto Twitter for $1,000 BTC in the days ahead.<\/p>\n

Today, however, we aren\u2019t as focused on future targets for the top cryptocurrency, but the long journey Bitcoin has had from when it first passed $1,000.<\/p>\n

Nine years ago from yesterday, on November 27, 2013, BTC breached above $1,000. The level proved to be significant at the time, with BTCUSD trading above $1,000 for less than ten days before the 2014-2015 bear market started.<\/p>\n

From that point on, it was more than 1000 days before Bitcoin passed $1,000 again. But when it passed it again, Bitcoin became a household name.<\/p>\n

Bitcoin breached $1,000 exactly nine years ago yesterday | Source: BTCUSD on TradingView.com<\/a><\/p>\n

Where To Next: $1K or $1M Per Bitcoin?<\/h2>\n

$1,000 per BTC was significant for several reasons. It was a large, rounded number in US dollars, but 1 BTC was almost exactly the same price of an ounce of gold at the time.<\/p>\n

After breaching above $1,000 a second time, Bitcoin went on to climb just under 2,000% to nearly $20,000 per coin. Today, five years later, BTC is below the 2017 bull market peak.<\/p>\n

Related Reading: Bitcoin At $1M By 2030: Why Cathie Wood Remains Confident In Bold Bet<\/a><\/p>\n

From the $1,000 milestone to current prices at around $16,000 per BTC, the top cryptocurrency still has more than 16,000% ROI its held onto. From its inception, it has gained more than 150,000,000% cumulatively.<\/p>\n

Despite this, there are equal calls for a revisit to the $1,000 level as there are for Bitcoin reaching $1 million per coin, making BTC the most interesting speculative asset of all-time.<\/p>\n

Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/p>\n

Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n

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