Bitcoin 8 years bear market history

From the end of last year to now, bitcoin value fell by nearly 77%, the market value of the evaporation of 1 trillion and 600 billion yuan within a year. This is not the first time a bitcoin history, for two to 8 years this pizza now from Laszlo Hanyecz with 10000 bitcoin, bitcoin has experienced a total of 4 times the big bear market (here to record the rising and falling as a bear market lows).

1, 2011 years and 7 months, 2011 years 11 months

At the beginning of 2011, the price of bitcoin is still hovering around 1 U. s.dollars, until April, bitcoin ushered in the first bubble in history. In the continuous 3 months of skyrocketing prices after 7 months 8 days, the bubble finally burst, from the highest price of $29.6 fell $2.05, or up to 93%.

In 2011, bitcoin is still in circulation in a small area, the year was no fire coins, OKCoin, bit, China, bitcoin also only in June has just been established, all the spike is no rules to follow. But in March of that year, a bitcoin introduced video explosion of red, after the influx of more and more people began to leave the first wave of the reaper.

Even if has bottomed out in November of that year, but bitcoin is still not able to recover quickly in a short period of time to the highest price in July, slow adjustment after a year, until February 2013, bitcoin was once again reached the peak in July 2011.

2, April 2013 – July 2017

In April 9, 2013, bitcoin climbed to an all-time high of $230, and since then has been down, even the lowest price fell to $66.34, a decrease of 71.16%, until November of that year was increased to $230.

In bitcoin prices this year, illegal trade in the dark network increasingly rampant, Coinbase bitcoin exchange set up, slowly began to circulate as currency. But in April 2013, due to the Mt. Gox payment processing delay caused panic selling, the price will decline. The Thailand ban bitcoin transaction, underground drug site Silk Road seized 26000 BTC were seized, so they also opened a long bear market road.

3, December 2013 – January 2015

The $1147 resistance, bitcoin prices eventually fall, so that in the next two or three years, bitcoin in the callback, the lowest price fell to $177, down 84.56%.

Bitcoin is on the rise before 2013 years 12 months because the world’s first bitcoin ATM machine was born in Canada immediately merchants who have put into use. In addition, Baidu also allows customers to pay with bitcoin to buy website security service, bitcoin slowly approached the public view.

But 2013 years 12 months 5 days, issued a “notice” in the people’s Bank of China on guard against the risk of bitcoin prohibit financial institutions use bitcoin, bitcoin market has gradually warmed up immediately cool down.

4, since December 2017

In December 16, 2017, bitcoin prices reached $19343, $20000 in the upcoming breakthrough on the occasion of a sudden fall, until now below $4500.

2017 is the year of the outbreak of the digital currency, this year to accept bitcoin enterprises continued to increase in exchange trading volume continues to increase, bitcoin gained more legitimacy in legislation and the traditional financial companies. At the same time, the number of associated with bitcoin GitHub project has more than 10000, added a large number of other digital currencies also makes the market more prosperous.

Even if bitcoin attention more and more, but the underlying technology at present is still not enough to support such a large market, coupled with tighter regulation, this time the price callback may be longer than investors think.

(author: Pied Piper, content from the chain have open platform content too “; this paper represents the views of the authors and do not represent the official position of the chain too)

Leave a Reply

Your email address will not be published. Required fields are marked *