Rise and Fall of Bitcoin

Bitcoin is a digital global currency based on distributed machine rather than gold and banks.

With its more than 1,000 percent price surge in 2017 Bitcoin has provided traders and investors with promising returns. At the same time, traders must note that this is a highly volatile digital currency, which has been dramatically declining at some times.

Bitcoin traders should note that there is a tradition of substantial uncertainty in the digital currency. More precisely, the largest cryptocurrency in the world witnessed very aggressive bull and bear markets through market capitalisation (market cap), either gaining or lost more than 80 percent of its value.

Bitcoin fell from the latest stage significantly. Investors can enjoy tracking high gains periods and losses are nothing new for Bitcoin.

This article will study some of these past market cycles

History of rise and fall of Bitcoin from 2009-2018

In January 2009, the first Bitcoin units were mined. In 2011, prices rose by more than 11,000 percent, rising from $0.30 to $35 within a couple of months. The digital currency then fell to 2.30 dollars, which reflects a decrease of over 90%.

In less than one week the cryptocurrency dropped to US$ 259, but lost more than 82 per cent of its value. The first was to raise the digital currency to US$ 259 on 10 April.

By November 30, all these losses and much more had been regained by the Bitcoin price to the high of US$ 1,163.

After the digital currency hit this level, the bear market suffered considerably more than its predecessors. It did not go down until, on 14 January 2015, its value hit a low of US$ 152, which is approximately 87%.

After declining at the beginning of 2015, the price of Bitcoin has seen another marked rise, which increased to almost US$ 20,000 in December 2017. The digital currency was more than 3,000 per cent during this rally.

Bitcoin, which had risen to almost US$ 20,000, began to fall and almost one year later in December 2018 would go down to US$ 3,100. Bitcoin lost more than 84 percent of its value in dropping from US$ 19,783.21 to US$ 3,122.34.

In conclusion If the price of Bitcoin increases on one day, we certainly know this: the price rose. Analysts also offer reasons for either rising or lowering a digital currency. What motivated the decisions of all the investors who helped to decide the cost of a certain asset is difficult to understand.

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