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Bitcoin: 100 days above $10000
Bitcoin: 100 days above $10000
Bitcoin

Bitcoin: 100 days above $10000

By Marco Cavicchioli - 4 Nov 2020

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This has never happened before: the price of Bitcoin has reached one hundred consecutive days above $10000

In fact, in reference to the average daily price, the last time it was below $10,000 was on July 26th, 2020, but since the 27th it has always been above this threshold. 

Since then one hundred days have passed, during which time the average daily price has never fallen below $10,000. 

To tell the truth, already on September 28th, it had set the highest ever record of the highest number of consecutive days with an average price above $10,000, exceeding even the streak recorded during the big speculative bubble at the end of 2017. But then it was only 61 consecutive days, i.e. two months, while now it has become 100, which is more than three months. 

Moreover, it doesn’t seem likely that there will be a fall below that threshold in the near future, so much so that some also speculate that the price of BTC may never go back below $10,000. 

It must also be pointed out that it has been 25 days now that the price of BTC has consecutively been above 11.000$, and 11 consecutive days above 13.000$, but these are streaks that have more probability to be interrupted. 

Bitcoin’s 100 days above 10,000 dollars

Moreover, in these 100 days, only 38 times the average daily price has been below $11,000, which means that in 62% of cases the price has been above not only $10,000 but also above $11,000. 

This suggests that the $10,000 threshold is much more solid than the $11,000 threshold, which is perhaps why many people consider it very unlikely that it will fall back to the levels of July 26th. 

What is certain is that the current trend is markedly different from that at the end of 2017, when in less than 30 days the price rose from $8,000 to $20,000 and then fell back to $6,000 in less than 60 days. 

In other words, from November 2017 to February 2018, in 100 days the price went from $8,000 to $6,000 passing through $20,000, while now it has been 100 consecutive days above $10,000. 

After all, the context has completely changed and is totally different, so it is hardly surprising that BTC’s price behaviour is so different from then. 

It remains to be seen how much longer this streak will last.

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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