Look back at the big waves of bitcoin in the past

In the past few months, bitcoin investors have experienced mixed feelings when the digital currency soared sharply and then decreased conti...

In the past few months, bitcoin investors have experienced mixed feelings when the digital currency soared sharply and then decreased continuously.

However, looking at the history of bitcoin, the decline of 70% in early 2018 is not something surprising. Because that's not the worst thing that ever happened to this cryptocurrency. Experienced traders feel calm because they have experienced the same situation many times. For them, the secret is to always hold bitcoin despite these fluctuations.

Here are the big waves of bitcoin in the past:

June 2011

In the early days, bitcoin was in the wild West - a time when very few exchanges allowed bitcoin trading, and only the bravest people invested in the cryptocurrency. Bitcoin has started to rise from $ 0.95.

In mid-June 2011, the price of bitcoin rose to $ 32 before falling to only $ 2 in November. With a 94% decline, this was the biggest decline and left painful memories for Initial investors, except those who persevere in holding.

The double-digit price doesn't seem to say much, but we must keep in mind that the level of interest and trading volume was only a fraction of what it is today. Bitcoin is still paying little attention and no one has a clear view of its future as it is today. For many investors at the time, $ 32 seemed like a good price to take profits, especially after a spike.

January 2012

The second major decline occurred just a few months after bitcoin dropped to only $ 2. Although prices have more than doubled from lows at the end of 2011, the market is still scared after the decline from $ 32.

Beginning in 2012 optimistically at a price of 4.5 USD, bitcoin sometimes increased to more than 7 USD in January. However, those who buy into bitcoin when the digital currency is down like it should now look. at the time and note. Because it shows an important fact: There is no guarantee that bitcoin can rise to ever-highs before correcting again.

From about $ 7.4, the cryptocurrency dropped 49% to only $ 3.8 at the end of January, leaving many investors disillusioned.

April 2013

Bitcoin went through the beginning of 2012 and 2013 was quite peaceful. Bitcoin started rising to around $ 13, reaching a peak of $ 17. The beginning of 2013 was a period of strong price increases for Bitcoin, when it surpassed the highest level until that time of $ 32, reaching $ 49 before falling to $ 33.

The emergence of new exchanges and traders, along with the media attention, has helped bitcoin recover quickly, and increased rapidly to $ 260. The disruption at the largest Exchange at that time, Mt. Gox, arguably the cause of the subsequent decline, as bitcoin dropped 83% to $ 40.

November 2013

November 2013 was known as the time when bitcoin's biggest and most typical decline occurred, with an 87% decline. Along with the price increase at the end of 2017, bitcoin seems to have a strong tendency to fluctuate at the end of the year. The period of bitcoin price fluctuations from November 2013 to January 2014 is a reflection of what happened in the last four months. The arrival of new traders and increased media attention have helped bitcoin reach an unimaginably high level.

By the end of 2013, bitcoin was worth nearly $ 1,200, surpassing the critical psychological threshold of $ 1,000, before experiencing a few-year decline. With a total of 411 days of adjustment, in part due to the Mt. Gox and taking nearly $ 500 million off the market, bitcoin sometimes dropped to a low of about $ 150 in January 2015.

November 2017

Five years after bitcoin's first 4-digit value, the currency has grown 5-fold to $ 10,000 and sometimes to nearly $ 20,000 before plummeting. Three years ago was the best time to buy, even for those who bought bitcoin for $ 750.

In December, a small adjustment to 14,000 USD did not lose the motivation to increase prices. The cryptocurrency quickly regained its $ 17,000 mark before plummeting. Concerns about the sustainability of bitcoin. Especially with the appearance of a series of replacement coins, has increased the trend of selling off.

A decline of over 70% may still not be a stop, if you look back on what happened in 2013. But the long-term market is still quite optimistic.

Look forward
If there is something optimistic, it is the history of repeated bursts and price drops and then reaching new highs. Bitcoin is still the subject of attention from investors and media. Despite regulatory pressures, technical difficulties, and the aforementioned adjustments, bitcoin still holds the No. 1 position in the Blockchain revolution.

The future of bitcoin depends on many factors, not just its followers. The volatility since 2013 proves that the road ahead with this cryptocurrency is not flat. With the market there are always sharks (big investors) who can create bitcoin waves whenever they want. Many people are still digging for bitcoins in search of the profit and future markets of cryptocurrencies have been established, bitcoin's prospects are quite bright.

Mr. Nerd

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High Tech Brain: Look back at the big waves of bitcoin in the past
Look back at the big waves of bitcoin in the past
High Tech Brain
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