Bitcoin’s Biggest Wins and Greatest Losses

Discussion in 'General Discussion' started by JVanL, Oct 4, 2019.

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  1. JVanL

    JVanL Contributor

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    A look at the highs and lows of Bitcoin over the years

    Bitcoin (BTC) emerged onto the crypto scene in October 2008, when Satoshi Nakamoto released a whitepaper entitled “Bitcoin: A Peer to Peer Electronic Cash System”. Over a decade later, we’ve seen Bitcoin (BTC) soar to extreme highs and the lowest lows. So, what are the reasons behind November 2011, November 2013, April 2013, December 2017, and November 2018? We’ll be taking at look at Bitcoin’s biggest wins and greatest losses – all of them burned into the collective cryptocurrency consciousness. So let’s take a look at Bitcoin’s biggest wins and greatest losses over the years.



    What Happened in November 2011?
    Early 2011 was pretty for Bitcoin (BTC). By June, Bitcoin’s price had hit $32, an all-time high for the cryptocurrency, but things had changed for the worse by December 2011. Holders of the cryptocurrency watched the price crash to a measly $2. In fact, it was so bad that many investors simply decided to sell all of their Bitcoin and get out of the game – the same early investors who would have been multimillionaires today! Ouch!



    What Happened in April 2013
    By April 2013, Bitcoin’s price had swelled to a massive (at the time) $260 on the market. As new exchanges opened and adoption numbers increased, things were certainly looking up! Yet, within the space of just 2 days the price dropped by 83%. From $260 to $45 in only 48 hours. This massive drop in price was largely attributed to coverage of Bitcoin in the media. Before 2013, Bitcoin’s price had never gone over $15, and the surge in the price was unsustainable in anything but a Bull market.




    What Happened in November 2013
    By the end of 2013, the price of Bitcoin was about to reach a cool $1,200. A United States Senate hearing had concluded that Bitcoin (BTC) held promise, and China’s Central Bank offered its approval too. This caused a surge in Bitcoin’s price, but it wasn’t to last.

    China withdrew its support of Bitcoin and started to impose incredibly harsh restrictions, and the massive scandal of Mt. Gox shortly after, certainly didn’t help either. On 19 November 2013, Bitcoin’s price halved – falling from $755 to $378 in a matter of hours. Although it seemed to be on the up shortly after, they were the first warning signs of a 411 day slump – including January 2015 when prices dropped to $150. Out of all of Bitcoin’s biggest wins and greatest losses, this is one of the most severe.


    What Happened in December 2017
    2017 was quite the year for Bitcoin (BTC). The cryptocurrency grew by a staggering 1,950%, from $974 a coin to $20,000 in the space of only a year. However, warning signs of a bubble were there and the coin did drop in price. Still the remarkable high of 2017 is what many believe Bitcoin will achieve again in only a short while. Some argue that Bitcoin’s volatility is as much a help as it is a hindrance – something that has certainly been showcased over the course of the years.

    Bitcoin hits highest price ever

    What Happened in November 2018
    2018 was not a good year for Bitcoin (BTC). With prices plummeting by more than 83% after its all time high of $19,783, things were not looking good. This also caused pretty catastrophic ramifications within the rest of the cryptocurrency markets, with many other coins rendered essentially worthless. Even Ethereum took a pretty big hit – with price’s dropping from $1,400 at the beginning of 2018, to around $110 by the end of the year.



    What now?
    Bitcoin is a volatile coin – there’s no denying that, all we have to do is look at Bitcoin’s biggest wins and greatest losses to see it. However, Bitcoin’s volatility can really be as much of a good thing as it can (occasionally) be a hindrance. Following the ups and downs of the cryptocurrency market is pretty important if you want to be a successful trader, but it can feel a little daunting. Sites like eToro help to make things a little easier for new traders – so you can be ahead of the game the next time something like November 2011, April 2013, November 2013, December 2017 or November 2018 happens.


    Bitcoin’s Biggest Wins and Greatest Losses - Bitcoin Advisor
     

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