As a seasoned crypto investor with a knack for spotting trends and a keen eye for promising investments, I must admit, seeing Bitcoin hit €100,000 for the first time feels like a validation of my faith in this digital revolution. Five years ago, when Charles Edwards at Capriole Investments predicted that Bitcoin Energy Value would reach $100,000 by 2025, I remember chuckling to myself, thinking it was a bold and optimistic prediction. Little did I know that his prophecy would come true two weeks ahead of schedule!
In the impressive fourth quarter of 2024, Bitcoin (BTC), the leading cryptocurrency, achieved another significant milestone in its rally. Specifically, its Energy Value metric reached a remarkable $100,000. This important achievement was forecasted by Charles Edwards from Capriole Investments about five years prior to this event.
Bitcoin Energy Value reaches epic milestone
On December 16, 2024, the Bitcoin Energy Value, a crucial component of the BTC Proof-of-Work mining environment, reached an unprecedented milestone. For the first time, this metric surpassed $100,000, as confirmed by its creator, Charles Edwards, on his Twitter account.
Bitcoin Energy Value just cleared $100K for the first time ever
— Charles Edwards (@caprioleio) December 16, 2024
Today saw a significant increase in the Smoothed Moving Average (SMA) of Bitcoin Energy Value, reaching close to $100,500. The raw value on the chart nearly touched $105,000, as indicated by Edwards’ demonstration.
Bitcoin Energy Value is the intrinsic value of Bitcoin (BTC), as priced by raw joules of electricity into the mining network. Historically, Bitcoin Energy Value correlates with the price of BTC.
Previously reported by U.Today, Charles Edwards had forecasted that the Energy Value of Bitcoin would hit $100,000 by the year 2025 as early as March 2020.
Two weeks ahead of schedule, the predicted Bitcoin Energy Value came to pass as BTC reached a value of $8,000 per coin.
Bitcoin (BTC) hits €100,000 for the first time ever
At this moment, Bitcoin (BTC) consistently establishes record highs on significant performance indicators during this bull market trend. For example, the Bitcoin mining difficulty has reached an all-time high of 108.52 trillion, marking a 40% increase over the past year.
During that timeframe, the computational power used by Bitcoin (BTC), known as the hashrate, nearly doubled and climbed to a staggering 723.68 exahashes per second.
On December 16th, 2024, a significant milestone was achieved as Bitcoin (BTC) surpassed the six-digit mark when measured in euros (EUR). At the time of reporting, Bitcoin was battling to maintain its value above €101,000.
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2024-12-16 19:19