Fri Dec 14
Reading time: 4 minute(s)
In the early days of Bitcoin, more exactly June 2011, the price found itself at about $32 and within 5 months to $2. That was the first big fall or earthquake of bitcoin price. Many enthusiasts, investors, clients lost all hope, sold all they had and gave up altogether, leaving the crypto world behind.
Things got better, and Bitcoin reached about $1,200 towards the end of 2013. Good news proceeded this growth, even the United States Senate had a hearing concluding that Bitcoin holds great potential or China’s central bank offered approval. It did not last for long, soon China changed her mind and began to impose restrictions stating that Bitcoin was not a currency. Adding this to the Mt.Gox scandal back in 2014, where 7% of all Bitcoins vanished in thin air and other DDoS attacks towards trading platforms made the price fall in a pit without an end. In a single day, Nov. 19 2013 to be more precise, the price halved, going down from $755 to $378. The end of that month signaled the start of a slump, a year-long slump. In January 2015, one bitcoin was $150, overall, the price dropped by 87% in the course of 411 days.
A short period of time in the life of Bitcoin is worth mentioning. In April 2013, the biggest falls in value happened. A bullish market took the price to about $260.The number of trades kept going up, exactly like the lava from a volcano. But anything, that goes up, comes down, and in the space of 2 days a bear appeared and brought the price to $45 – a decline of 83%.
In 2017, Bitcoin had the most spectacular roller coaster ride, one that translated in a growth of 1,950%, going from $974 to $20,000. A lot of people warned about this growth and that the bubble was about to explode. The ride began in mid-September after Chinese authorities made all exchanges based in Beijing to cease trading, stop allowing new users and notify all customers of their closure. On October 13, Bitcoin breaks the $5,000 barrier for the first time,with a worth four times greater than the price of an ounce of gold. The next big event was the Bitcoin hardfork. On October 25, the price was $5,682; 10 days later -> $7,261. Bitcoin price broke $10,000 barrier for the first time on November 28. After 10 days it already increased to $15,455. The record was touched on December 18, Bitcoin’s value almost reaching $20,000, but in the spam of 10 days, it dropped to $16,064.
Winter again, 2018 Bitcoin found itself drained, losing more than 83%, an earthquake from which Bitcoin cannot yet escape. The fall was a hard one, it dragged all the coins after it, many of them are worthless now, even Ethereum tumbled from$1,400 to about $100, because the price of any coin is linked in a way to the price of Bitcoin. On March 14, Google announced it will ban online advertisements for crypto and initial coin offerings from June. So, in 10 days,from $9,208 it dropped to $8,569. Short after Google, Twitter and Facebook followed with the same decision and banned all advertisements for cryptocurrencies. The price dropped even more to $7,126.
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