History of Bitcoin Crashes
The A-Z Of History Of Bitcoin Crashes
Does History Of Bitcoin Crashes Sometimes Make You scared about getting involved in the Crypto Space? Well in my article today, I will share with you the Hidden Mystery Behind History Of Bitcoin Crashes, from 2013-2018.
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According to Nick Johnson, Bitcoin has experienced about five crashes from 2013 – January 2018. Secrets experts Never Told You About History Of Bitcoin Crashes.
Historically, the Cryptocurrency Bitcoin is known for its wild swings. Last week, it dropped under $9,000… a fall of around 50% from 15 December 2017 Increase price reached $17,900.
It’s since recovered some, and as of January 23, the price has collapsed down to 10469.6, which is a serious drop.
Today, we would take a quick recap of all the historical experiences of the currency. 9 History Of Bitcoin Crashes Secrets You Never Knew
Just in case you are apprehensive about 2018, Bitcoin crash, understand that In bitcoin’s history… 50% drops are not uncommon.
The First ever Bitcoin Crash #1:
This was recorded first on the 8 July 2011 [Wikipedia] $31.00 Increase top of first “bubble”, followed by the first price drop 2013, Dec 2011 $ 2.00 Decrease minimum after few months dropped from $233 to $67 in a single night!
Dec 2012, $13.00 slowly rising for a year That’s a crash of 72% in 24 hours.
11 April 2013 $266 Increase top of a price rally, during which the value was growing by 5-10% daily.
Nov 2013 $350–$1,242 Increase from October $150–$200 in November, rising to $1,242 on 29 November 2013
But then it crashed again!
According to Stat Dated Apr 11, 2013, @ 12:45 AM Fobes.com Timothy B. Lee Wrote an article highlighting An Illustrated History Of Bitcoin Crashes.
According to Him, Bitcoin saw one of the largest declines in Bitcoin prices in the cryptocurrency’s lifetime. Many commentators declared the fall the beginning of the end for Bitcoin. I’m not sure if that’s correct or not, but in any event, a sense of perspective is always helpful. So here are the biggest Bitcoin crashes since I started paying attention to the currency in early 2011.
June 8-12, 2011
Peak price: $32
Price decline: 68 percent
Peak price: $49
Price decline: 33 percent
Early 2013 saw an extraordinary Bitcoin boom. By the beginning of March, Bitcoin prices were already double the 2012 high, and they rose another 50 percent over the next week. Then on March 6, the price collapsed, briefly falling to $34 before rising again to $45.
A few days later, it happened again. A bug in the Bitcoin software on March 11 caused the price to fall from $48 to $36.50 in a matter of minutes. Once it became clear that the situation was under control, the currency rebounded to near its previous highs.
These two crashes didn’t have any noticeable impact on Bitcoin’s upward price trajectory. Bitcoin prices would reach $60 on March 19 and end the month above $90.
This was Timothy B Leee’s Article since 2013, I observed his guess prediction was that what if in 2018 Bitcoin Timothy tiles this- Nobody Knows If There’s A Bitcoin Bubble
A lot of people seem to be comparing the current transaction volume to the current valuation. But that’s a mistake. If you think the fundamentals of the Bitcoin economy will support a price of $500 by 2018, it’s rational to buy bitcoins at $250 today even if today’s fundamentals only support a price of $50. So the recent rise in Bitcoin’s price is a bet on the future size of the Bitcoin economy. That bet may turn out to have been mistaken, but we won’t know until we see how people use Bitcoin in the coming decade.
April 10, 2013
Bitcoin Crash #2
= By December 2013, it was down more than 50% again to $600.
= Dec 2013 $600–$1,000 Decrease Price crashed to $600, rebounded to $1,000, crashed again to the $500 range. Stabilized to the ~ $650–$800 range.
It recovered once more, until…
= Jan 2014 $750–$1,000 Increase Price spiked to $1000 briefly, then settled in the $800–$900 range for the rest of the month.
= Feb 2014 $550–$750Increase Price fell following the shutdown of Mt. Gox before recovering to the $600–$700 range.
= Mar 2014 $450–$700 Increase Price continued to fall due to a false report regarding bitcoin ban in
= China and uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges.
= Apr 2014 $340–$530 Decrease The lowest price since the 2012–2013 Cypriot financial crisis had been reached at 3:25 AM on 11 April
Bitcoin Crash #3
The Mt. Gox bitcoin exchange got hacked… and bitcoin again dropped 49%.
And in 2017, we’ve seen two crashes.
= 5-12 January 2017 $750–$920 Decrease Price fell 30% in a week, reaching a multi-month low of $750.
= 12 September 2017 $2,900 Decrease Price dipped harshly from China’s bitcoin ICO and exchange crackdown (those following improper practices)
Bitcoin Crash #4
After rising to $3,000, bitcoin dropped back to $1,869, a fall of 36%.
= 17-20 November 2017 Bitcoin hit $7,600-8,100 and Increase Briefly topped at USD $8004.59/BTC at 01:14:11 UTC before retreating from highs. At 05:35 UTC on 20 November 2017 it stood at USD$7,988.23/BTC according to CoinDesk. This surge in bitcoin may be related to developments in the 2017 Zimbabwean coup d’état. The market reaction in one bitcoin exchange is alarming as 1 BTC topped nearly US$13,500, just shy of 2 times the value of the International market.
= 15 December 2017 17,900 Increase Bitcoin price reached $17,900
= 22 December 2017 13,800 Decrease Bitcoin price loses one-third of its value in 24 hours, dropping below $14,000
Bitcoin Crash #5
When China put restrictions on Bitcoin trading, the cryptocurrency dropped 37% from its $5,000 high.
Okay, so what’s my point in going through all of this?
First of all, bitcoin trading takes nerves of steel. There are going to be ups and downs.
But the second point is that investors who bought on every single one of these crashes have made a ton of money!
These are buying opportunities every time.
And the latest crash means that you can buy bitcoin at half the price that other people paid. If you’ve followed my work, you know that I believe bitcoin and other cryptos have a long way to run.
And I believe now is a very important time to act. Here’s what I think you should be doing. And remember…
This cycle has happened over and over…
boom-bust-BOOM. So let’s take advantage of it.
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Sources – Wikipedia
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