Bitcoin’s Price History
Bitcoin Price History
For the most part, Bitcoin investors have had a bumpy ride in the past roughly 13 years. Apart from daily volatility, in which double-digit inclines and declines of its price are not uncommon, they have had to contend with numerous problems plaguing its ecosystem, from multiple scams and fraudsters to an absence of regulation that further feeds into its volatility. In spite of all this, there are periods when the cryptocurrency’s price changes have outpaced even their usually volatile swings, resulting in massive price bubbles.
The first such instance occurred in 2011. Bitcoin’s price jumped from $1 in April of that year to a peak of $32 in June, a gain of 3,200% within three short months. That steep ascent was followed by a sharp recession in crypto markets, and Bitcoin’s price bottomed out at $2 in November 2011. There was a marginal improvement the following year, and the price had risen from $4.80 in May to $13.20 by Aug. 15.
2013 proved to be a decisive year for Bitcoin’s price. The digital currency began the year trading at $13.40 and underwent two price bubbles in the same year. The first of these occurred when the price shot up to $220 by the beginning of April 2013. That swift increase was followed by an equally rapid deceleration in its price, and the cryptocurrency was changing hands at $70 in mid-April.
But that was not the end of it. Another rally (and associated crash) occurred toward the end of that year. In early October, the cryptocurrency was trading at $123.20. By December, it had spiked to $1,156.10. But it fell to around $760 three days later. Those rapid changes signaled the start of a multiyear slump in Bitcoin’s price, and it touched a low of $315 at the beginning of 2015.
The fifth price bubble occurred in 2017. The cryptocurrency was hovering around the $1,000 price range at the beginning of that year. After a period of brief decline in the first two months, the price charted a remarkable ascent from $975.70 on March 25 to $20,089 on Dec. 17.
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