The ups and downs of Bitcoin's price throughout its history | CryptoNews



[ad_1]

The latest news from the crypto derivative market is responsible for one of the most significant falls in bitcoin prices this year, despite the fact that the downward trend was dominant during 2018.

This situation, which has worsened in recent weeks, has ignited investor alarms, leading many to a sense of capitulation, an attitude that may involve throwing in the towel and not waiting for prices to recover. Fortunately, there are still many "hodlers", Willing to remain in resistance and keep their crypto-coins, dealing with the crash of the cryptography market.

Among the recommendations that many experts offer, as part of the strategies to manage this low period, is not to panic and have patience.

Knowledge of the behavior of this market, in its short history, can be useful in order to take this experience as normal. To do this, it is worth checking the price history of Bitcoin, which in the last 10 years has been characterized by ups and downs. It is about cycles that characterize the crypto and this shows that the current setback is not the first to happen, and probably will not be the last.

June 2011, lthe first big fall

Although the cryptomania was born in 2009, the history of its quotations has been available since August 2010 by accessing the graphics on the BuyBitcoinWorldwide website, even if cryptoactive begins to be marketed permanently with the establishment of important exchange offices from 2013.

Before that date, the price was calculated through transactionspecific events that involved Bitcoin, such as the exchange of 10,000 BTC for two family pizzas in May 2010 or the purchase of 5,000 BTCs for NKR 150, $ 27 in 2009. In both transactions, the BTC unit was priced at approximately 0.5 cents. .

O February 9, 2011 the price of Bitcoin exceeds, for the first time, the price of 1 dollar, remaining more or less stable in this price in the following months, until it started to rise slowly in the month of May and reach the peak of 29.6 reais on June 8, 2011.

Bitcoin price for mid-2011. Source: CoinMarketCap

After this increase, lthe first big fall prices Bitcoin It happenedor andl 11 June 2011, when it was trading at $ 14.6 dollars to start a decline with small ups and downs reaching $ 6.55 in August 2011 and reaching its lowest point in November of that year when it was quoted at $ 2, 00.

The decline at that time was over 90% and affected many early investors. According to the analysis, this cancellation period, in June 2011, is related to the publication of a report on O Silk RoadA famous black market of the black web already closed, on June 1 of the same year. There it was argued that the transactions on the site were made "under a pseudonym and in bitcoins", drawing attention to the cryptomoeda.

O highs and lows in 2013

Months after reaching the plateau of US $ 2.00 per unit, in November 2011 the market began to recover with a Bitcoin of US $ 4 at the end of that year, trading more than US $ 7.00 in January 2012 However, after reaching almost $ 7.40, it had a further drop to $ 4 in February.

Despite it, maintained steady growth in the second half of the year and finished 2012 with a value that surpassed US $ 13. It was in 2013, when the criptomoeda experienced a second great rise and fall, after remaining more or less constant between 2012 and 2013.

The beginning of 2013 represented an upward phase for the cryptomeo from $ 49. big second climb up fall occurs 9 April 2013 when, after several increases, Bitcoin reached the peak of US $ 230 fall alone a week later, up to $ 68.

Bitcoin price for April 2013, according to CoinMarketCap

The emergence of exchange houses and the advance of the Crypto-Coin trade have been taken as one of the causes of Bitcoin's growth, leading to increased media coverage, which has contributed to price surpassing the market barrier. the $ 200 and reach the 3 digits.

Analysts also reported this situation to the currency crisis that was taking place in Cyprus, where, for 12 days, citizens were barred from making withdrawals. This meant that, incidentally, many Cypriots came to Bitcoin to protect themselves.

Regardless of, the biggest fall of the year happened intre nNovember and December of 2013, when the price approached $ 1,200, after several months in levels close to $ 100. The highest peak was on December 4 with a price of $ 1,147 and then fell on December 6 to $ 694 .

Bitcoin broke $ 1000 in 2013, according to the CoinMarketCap chart

After that date, cryptoactive experienced ups and downs dropping to $ 522 by mid-December 2013. A further decline, in early January 2014, took the price to almost $ 300.

O hack one Mt. Gox and the fall in 2014

The price of the cryptographic currency recovered in late January 2014, hovering around $ 900 to fall in February to just over $ 500 (down almost 50%).

Bitcoin price for February 2014, according to CoinMarketCap

That drop came after the scandal at the Mt. Gox exchange house exploded, announcing that this first bitcoins trading platform – and one of the most popular at the time – had been invaded. The case made headlines after the disappearance of 850,000 bitcoins, quoted in February 2014 at $ 450 million, plus $ 27 million in cash.

The exchange house declared bankruptcy before these events and, subsequently, 200,000 bitcoins were recovered. From that date to the present, users went to court to recover their funds and the current trusted commissioner of the foreign exchange office sold some of the cryptographic coins to compensate those affected.

This incident set a negative precedent, generating doubts about Bitcoin's security and damaging the value of crypto. The rest of the year cost between $ 300 and $ 600. From 2014 Bitcoin only once again exceeded $ 1,000 in 2017.

2017: the great year of Bitcoin

The most well-known increase in cryptography prices was in 2017, a year that saw the industry's growth and advancement at levels not previously thought, with the growth in the number of foreign exchange offices around the world and a greater the Cryptomoedas market.

As of that year, Bitcoin has a quote above $ 1,000 with a record of $ 1,200 in February, which was surpassed when it reached $ 2,000 in May. This amount continued to advance in the following months to exceed $ 7,000 in November and reach a record high of nearly $ 20,000 in December 2017.

Bitcoin price for December 2017, according to CoinMarketCap

The launch of Bitcoin Futures is among the drivers of the big increase in 2017. This fact, according to an investigation by the Federal Reserve Bank of San Francisco, demonstrates how the introduction of financial instruments that were previously outside the crypto-currency negotiations may have a impact on price behavior of the cryptographic market.

2018: Low prices, industry growth

After having risen as foam by the end of 2017, in 2018 begins a period of continuous declines that hit the lowest points in November, when it has already fallen below $ 4,000. This decline was seen as a blow to investors. After waiting anxiously, so far in 2018, the price will return to the levels reached in December 2017.

However, despite the setback, it is worth taking into account the growth that the cryptographic market has achieved at this time in the history of Bitcoin, which helps to see this fall as part of the natural cycles that cryptoceptives followed in these cycles. years The growth of the cryptography market is shown in the following chart BuyBitcoinWorldwide, reflecting that the price of bitcoin has increased 148.770% in the last 7 years:

Percentage growth in the price of Bitcoin according to BuyBitcoin Worlwide

The table shows Bitcoin's price increase, in dollars and percentage, in relation to the recent price, in the last week, in the last month or in the last year. You can also see the progress of the BTC price in the last 2, 3, 5 and 7 years. The numbers show a great growth of the market noting that despite the current decline, there is an exponential difference from the prices of one or more years ago.

Featured image by spiritofamerica / stock.adobe.com

[ad_2]

Source link