While it’s the extremes that grab more attention, one can argue that it’s in the more stable moments where the opportunity is the biggest. Bitcoin’s price exactly one year after ATH: around $3,000.īut more than the highs and lows of Bitcoin’s price, what people should remember about Bitcoin’s price history are the times that it recovered after every fall, no matter what naysayers say. People new to Bitcoin can get unnerved about tumbles like this, but those who have been around for a while know that there’s always at least one notable tumble for each market cycle.Īfter a high of $1,100 in December 2013, the price of Bitcoin trended down to as low as $200 just 12 months after, and stayed at that level for nine months.Īfter the all-time-high of almost $20,000 in December 2017, Bitcoin’s price plummeted as low as $7,000 amid wild fluctuations during the first half of 2018. (This happened one month after the big stock market crash in mid-February 2020, surprising people who thought that BTC may end up as a hedge against stocks.) ![]() Bitcoin fluctuated between $8,000 and $10,000 earlier this year, before a 24-hour crash in mid-March, amid the tumble of global markets due to the COVID-19 pandemic, sent the price down from $8,000 to $4,500. We began 2020 with a Bitcoin price of $7,000. Remember the first chart we showed about Bitcoin’s price movements since the third halving event? It seems like years ago, but Bitcoin’s price in 2020 has had a more compelling story. The higher the rise, the steeper the fall These predictions come out more often during market downturns, which we’ll go to next. Some analysts have sought to disprove the perceived patterns above, while we have more than 380 predictions of Bitcoin’s eventual death. While many predictions on Bitcoin price for the end of 2020 abound, they are mostly optimistic based on these perceived patterns. The meteoric rises in Bitcoin price over the past two almost-four-year periods have made people excited about the future of Bitcoin. It then took six months for the price to cross $1,000, then four months to reach $2,000, another four months to reach $4,000, and just three months to reach its all-time high of around $20,000 in December 2017.ĭuring the third halving event in May 2020, Bitcoin’s price was about $9,000. BTC was priced as high as $1,100, just a year after the first halving.īy the time the second halving happened in July 2016, 1 BTC was worth $660. The price rose to around $220 six months after that. In many major exchanges that existed in 2012, the price of BTC around the first Bitcoin halving, in November 2012, was $13. One popular assumption about Bitcoin is that it has a nearly-four-year market cycle, bookended by Bitcoin halving events. How did Bitcoin grow so fast in the span of just one decade? Market cycles, adversities, and recoveries play a role in this story.īitcoin halving and so-called market cycles ![]() At its height in December 2017, Bitcoin had a $20,000 price and a $300 billion market capitalization. Now, Bitcoin is a $200 billion market with an $11,000 valuation per bitcoin as of press time. Bitcoin has come a long way from its creation in 2009, its less-than-a-cent valuation in 2010, and that fateful 10,000 BTC purchase of two pizzas in the same year. The market sentiment of the past three months may serve as a microcosm of Bitcoin trading in general. The spike in BTC prices during the past week, characterized by a four-day jump to $11,000. (Notice the high volume during May, before the May 22 Bitcoin halving event.)Ī long period of sideways action, with BTC mostly in the $9,000 range and some jokes about Bitcoin acting like a stablecoin. ![]() Post-Bitcoin halving anticipation, pointing out to previous bull markets that followed each halving. Over the past three months, discussions about the price of Bitcoin have gone through three phases: After seeing all the recent price movements for Bitcoin, you might be asking yourself, “Should I buy Bitcoin?” Let’s take a closer look at the history of Bitcoin ’s price, and what recent trends might tell us about its future.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |