Bitcoin (BTC) has grown immensely since its origin. But the road to success wasn’t easy for the king coin. Over the years, the world’s largest cryptocurrency has been subject to immense hate and criticism. While some called it a scam, a few others saw it as an instrument that criminals employ. Amidst the numerous hate comments, JPMorgan’s CEO Jaimie Dimon had previously called BTC “worthless.”
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Bitcoin’s Journey From “Worthless” Tag To Price Surge Predictions
Surprisingly, this statement wasn’t made too long ago and was, in fact, during the king coin’s previous peak. According to data, this statement was made in October 2021. During this time, the asset was trading at $54,771.58. This level isn’t too far from its all-time high of $73,750.07. Currently, BTC is trading 12% below this peak.
At press time, Bitcoin was trading at $64,663.17, following a 3% rise over the past 24 hours. Earlier today, BTC hit the coveted $65,000 mark, instilling hope in the market that the asset is on its way to record a new high this month.
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Investment Analysis: $1,000 Bitcoin Purchase In 2021
If Bitcoin bulls had decided to invest $1,000 around the time Dimon made this statement, they would have raked in a slight profit. According to calculations, a $1,000 investment in 2021 would turn into $1,180. Investors would have pocketed a mere $180 more today, three years later.
Can Bitcoin Break Past $70,000 in October?
Data from Changelly reveals that Bitcoin could push past the $70,000 level as early as tomorrow. The firm revealed that BTC will increase to $70,000 later this week and surge to $75,732 in the coming days. It looks like BTC is in line to achieve its goals.
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