{"id":102013,"date":"2020-10-31T14:00:00","date_gmt":"2020-10-31T11:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released\/"},"modified":"2020-10-31T14:00:00","modified_gmt":"2020-10-31T11:00:00","slug":"bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released\/","title":{"rendered":"# Bitcoin price hits $14,000 exactly 12 years after whitepaper released"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3befdd58cf2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3befdd58cf2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released\/#Post-halving_bull_cycle_meets_Bitcoin_12-year_anniversary\" >Post-halving bull cycle meets Bitcoin 12-year anniversary<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released\/#BTC_price_rejected_at_14100\" >BTC price rejected at $14,100<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-14000-exactly-12-years-after-whitepaper-released\/#What_happens_next\" >What happens next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price hits $14,000 exactly 12 years after whitepaper released  <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008. Since then, the world&#8217;s biggest cryptocurrency has seen remarkable and exponential growth across various areas.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/db852056-36bb-436c-94f7-4cf4fff6262e.png\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>The daily price chart of Bitcoin. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>Fast forward 12 years, since the October 31, 2008 release of the whitepaper, Bitcoin is in a different growth trajectory. An institutional craze is leading the BTC rally, major financial institutions are supporting crypto assets, and the market has become increasingly liquid.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Post-halving_bull_cycle_meets_Bitcoin_12-year_anniversary\"><\/span>Post-halving bull cycle meets Bitcoin 12-year anniversary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The 12-year anniversary of the Bitcoin whitepaper is particularly special for Bitcoin because it marks the third post-halving cycle.<\/p>\n<p>Every four years, Bitcoin undergoes a block reward halving, which cuts the rate at which new BTC is mined by half. This h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ens because 21 million BTC can ever exist on the blockchain. As BTC approaches its fixed supply, the rate of production gets slowed.<\/p>\n<p>A halving historically has had a positive impact on the price of Bitcoin. It reduces the pace a new BTC supply is introduced to the market. Consequently, every four years, there is less BTC flowing into the exchange market.<\/p>\n<p>The 4th, 8th, and the 12th anniversary of Bitcoin are more noteworthy than other anniversaries for this reason. It coincides with a post-halving cycle, as the latest halving occurred in May 2020.<\/p>\n<p>The historic prices of Bitcoin on &#8220;whitepaper day&#8221; have seen considerable growth over the past decade. For example, in 2013, BTC price was just $204. In 2014, it reached $338m; 2015 &#8211; $314; 2016 &#8211; $700; 2017 &#8211; $6,468; 2018 &#8211; $6,317; and $9,199 in 2019.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_price_rejected_at_14100\"><\/span>BTC price rejected at $14,100<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Across major exchanges, the price of Bitcoin reached a peak of $14,100 and saw an im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te rejection on Saturday, Oct. 31. Most of the selling pressure came from Binance, which caused the price to quickly fall by 3% within minutes.<\/p>\n<p>Prior to the rejection, massive buy walls on Huobi and Binance initially pushed BTC upwards. There was a <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/HsakaTrades\/status\/1322451815137304577\">1,371 BTC buy wall<\/a> on Binance at $13,680 and another big buy wall at over $13,800 on Huobi.<\/p>\n<p>A pseudonymous Bitcoin trader known as \u201cCL\u201d <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/CL207\/status\/1322456411532525568\">said<\/a> it was the \u201cbiggest buy wall on Huobi I\u2019ve seen in a long time.\u201d<\/p>\n<p>But as BTC surpassed $14,000, traders on Binance began to sell large amounts of BTC in a short period. Prior to BTC\u2019s upsurge to $14,100, tech investor and Cointelegraph Markets contributor, Keith Wareing,\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/officiallykeith\/status\/1322461260517117958?s=20\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cSadly, Bitcoin will rejected at $14k and go back below the 2019 high thanks to binance whales.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_next\"><\/span>What happens next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When the price of Bitcoin surges rapidly and violently rejects, traders describe the pattern as a \u201cdarth maul candle.\u201d<\/p>\n<p>After such a large spike in volatility, Bitcoin tends to stabilize and consolidate. Considering that $14,000 is a crucial resistance level, BTC would likely consolidate under $14,000 and continuously attempt to break out.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p>CryptoQuant, the on-chain market data provider, has been pinpointing that Bitcoin exchange deposits have been declining. That typically indicates declining selling pressure, particularly among retail investors and whales.<\/p>\n<p>According to Ki Young Ju, the CEO of CryptoQuant <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1322344271895289856\">said<\/a> the trend is considered a \u201clong-term buy signal.\u201d The lack of intent to sell from investors on exchange indicates that a prolonged uptrend has become more likely.<\/p>\n<p>An optimistic market sentiment supplemented with strong fundamentals and various positive technical factors is only fitting on Bitcoin\u2019s 12th anniversary.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-hits-14-000-exactly-12-years-after-whitepaper-released\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price hits $14,000 exactly 12 years after whitepaper released &#8221; The price of Bitcoin (BTC) surpassed $14,000 on Oct. 31, the day Satoshi Nakamoto released the Bitcoin whitepaper in 2008. Since then, the world&#8217;s biggest cryptocurrency has seen remarkable and exponential growth across various areas. The daily price chart of Bitcoin. Source: TradingView.com&#8230;<\/p>\n","protected":false},"author":1,"featured_media":102014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/7e083b72-b306-4fb1-8a60-c33bafb9e715.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-102013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/102013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=102013"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/102013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/102014"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=102013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=102013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=102013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}