The Biggest Rises and Falls of Bitcoin Price

Nowadays, everyone is interested in Bitcoin price and as the price grows, the interest increases as well. So, let’s discuss the Bitcoin price, it’s rises and falls and the two Bitcoin bubbles. Bitcoin has been around for a decade now and since then it has been a hot topic for many discussions. As many people earned millions of dollars with Bitcoin, the interest in this new type of asset increased. Bitcoin’s high volatility is the main reason for crypto investors’ huge profits. To understand how low the Bitcoin price was at the start, we should discuss a well-known story in the crypto community. On May 22, 2010, Laszio Hanyecz made the first documented purchase with Bitcoin, buying 2 Papa John’s pizzas. These pizzas, at the time, cost him 10,000 BTC, which at Bitcoin’s all-time high price would be equal to $200 million. Crazy, right? As you can see, in the past years this new currency experienced many highs and lows. Here are some of them.

First Bitcoin Bubble (2013-2014)

Coinstats, one of the best cryptocurrency portfolio tracker apps show that, since the first BTC purchase, the price of the crypto-coin increased gradually in a couple of years hitting $100 in April 2013. After reaching a new all-time high of $266, the BTC price crashed. In the second part of the year, Bitcoin entered a new growth cycle and reached $1,242 only to drop rapidly after that. The first Bitcoin bubble burst. 2014 and the first half of 2015 were bad for Bitcoin’s price as it kept dropping lower and lower even reaching $200 in January 2015.

Second Bitcoin Bubble (2017)

Since July of the same year, Bitcoin was once again in a growth cycle and reached $1,000 briefly in January 2017. 2017 was a wild year for the first crypto-asset. Bitcoin started an upward movement and hit $2000 in May, to reach $3000 only a couple of weeks later. This attracted many eyes to Bitcoin and soon Wall Street analysts were following the rise of this crypto-asset. Other crypto coins followed Bitcoin’s footsteps quickly. By December Bitcoin experienced amazing price increase growing 20X in a matter of 12 months. The Bitcoin hit its all-time high reaching $20,000 (Dec 17, 2017).

What happened next?

After this, the crypto market faced one of the biggest corrections to this day as it experienced a 30% drop in a couple of days shaking up the whole crypto community. By the end of 2018 Bitcoin had lost 80% of its value and the market cap of all digital assets fell from $800 billion to $138 billion. It wasn’t the year, in terms of Bitcoin price. However, the number of crypto transactions is growing every year. In 2019, the Bitcoin is rising in price and many are wondering again how soon Bitcoin will reach its new all-time high. Many experts advise that by the end of 2021 the BTC price could easily reach the $50,000 range. Impressive right? We will see it soon!