This article does not contain any investment advice or recommendations. Every movement of investment and trading involves risks, you should conduct your own research when making a decision.
One of the most popular memes about cryptocurrency r / bitcoin, probably the largest concentration of Bitcoin enthusiasts on the Internet, depicts a cartoon coin riding on a roller coaster with his hands wildly waving in the air. On the days when Bitcoin soars in price, the meme shows the launch of rollercoaster straight up, and the days when Bitcoin crushes, the funny facsimile is seen enduring an almost vertical drop. This double-sided internet joke has accompanied almost every significant move in the price of Bitcoin in recent years and is telling in its frequency.
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Bitcoin is in perpetual increase and relative value decline, and even in early 2018 70% decline is not surprising, this is not the worst ever seen Even amid the biggest pitfalls, experienced traders remain unperturbed because they have already been there: the correction is almost a must for investors in cryptocurrency, and the most experienced veterans of the group have endured more than their fair share.
The first days of Bitcoin were his “Far West”, a time when very few exchanges made trade possible, and where only the bravest of the brave dug their toes in. Such a condition was almost liquidity, and so when the price started to go up around $ 0.95, the slope and the following fall were among the steepest ever recorded.
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In mid-June In 2011, the price of Bitcoin reached $ 32.00 per piece before falling to $ 2.00 in November, with a decline of 94%, this accident maintains its record and keeps painful memories for the first investors, although those who have held on now count their lucky stars (and their wads of notes.) Looking back, this double-digit record level seems weak, but we must not forget that there was a fraction of the volume and the Interest from today Bitcoin was still a largely unknown thought experiment, and no one had any indication about its future.As a result, $ 32 seemed like a good time. to profit, especially after such a rise, and other traders began to surrender.
The second major crash occurred a few months after Bitcoin. at $ 2.00 per piece. Although the price more than doubled at the end of 2011, the market was still fearful as it had seen cryptocurrency falling by only $ 32.00 recently. /cointelegraph.com/storage/uploads/view/85b980b0c40a22d2fb091776d55da561.jpg “title =” BTC2 “/>
Beginning the year with an optimism of $ 4.50, Bitcoin rose in January to more than $ 7.00 Look at this moment and take note, as it illustrates an important fact: Bitcoin is not guaranteed to reach its previous record before correcting once again.After about 7.40 $, it took a dreaded 49% drop to just $ 3.80 in late January, shaking up some investors who had held the debacle of November
The period between beginning 2012 and 2013 went smoothly, Bitcoin grew steadily and started the year 2013 at a price of about $ 13.00, reaching in 2012. Early 2013 was a bullish phase for crypto as it exceeded its record of $ 32.00, reaching $ 49.00 before a minor correction of one day at $ 33.00 $.
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Many new traders and traders, in addition to expanded media coverage, helped Bitcoin to recover quickly, and he recorded gains at a breakneck pace until April, when the bulls finally capitulated at the price of $ 260.00 , ranking well in the three figures. A breakdown in trading then the most popular, Mt. Gox, was also credited as an impetus for the decline. Profit-taking turned into freefall at $ 40.00, for a total loss of 83%.
Known as the largest and most exemplary of Bitcoin crashes, it is not surprising that the famous 87% drop has occurred in November 2013. As the latest accumulation at $ 20,000.00 indicates, Bitcoin bullfights tend to turn into frenzy late in the year. As expected, November to January 2014 is a near-mirror image of the last four months, with a huge influx of new traders and the attention of the media helping bitcoin to reach unheard-of heights.
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By the end of 2013 , the price was close to $ 1,200, a psychologically significant price that contributed to the subsequent disintegration With a total of 411 days of correction, helped in part by the epic implosion of Mount Gox and the erasing of Nearly $ 500 million, the lowest of the after-November was only reached in January 2015 at around $ 150.
Five years after the start of Bitcoin’s four figures, the king’s cryptocurrency has risen to $ 10,000 and reached $ 20,000 before losing speed, and would prove to be one of the best opportunities in the world. 39, purchase, and even those who bought bitcoin at the opening price of $ 750.00 year gained significantly.
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In December, a slight correction to 14,000 $ n was not enough to stop the momentum, which quickly brought it down to $ 17,000 before it collapsed. Concerns about the sustainability of Bitcoin, particularly with the plethora of impressive alternative solutions that have been published, have only made selling more extreme. The support appeared close to $ 5,900.00, from the middle to the end of 2017, when cryptocurrency prices began to rise almost exponentially. A total decline of more than 70% could fall, if 2013 is something to do, but the markets are optimistic for 2018.
Looking to the future
If anything either, this long boom story repeated the bust is an optimistic signal. Once Bitcoin has entered the headlines, it never left, and it continues to snowball in popularity with retail investors and the media attention, the longer it remains relevant. Through regulatory pressures, technical difficulties and many other corrections than those highlighted above, cryptocurrency remained at the forefront of the Blockchain revolution.
The fate of Bitcoin is more related to its believers than to multiparty politics. The fight that took place after 2013 demonstrates that the way up is not always right. With its whales creating waves whenever they want, miners looking for other ways to profit and a new futures market, Bitcoin’s prospects remain anything but transparent.