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The latest news from the cryptocurrency market is one of the biggest drops in bitcoin prices this year, despite the fact that the downtrend has been dominant in 2018.
This situation, which has worsened in recent weeks, has triggered investor alarms, resulting in a feeling of capitulation for many of them, an attitude that may involve throwing out the sponge and not to wait for prices to rise. Fortunately, there are still many "hodlers", Eager to remain in resistance and retain their encrypted currencies, to deal with the crash of the cryptography market.
Among the recommendations that many experts propose, as part of the strategies to manage this period in hollow, is not to panic and to have patience.
The knowledge of the behavior of this market, in its short history, can be useful to take this experience as something normal. To do this, it is worth consulting the Bitcoin price history, which has been characterized over the past 10 years by ups and downs. It is about the cycles that characterize the cryptocurrency and this shows that the current setback is not the first to happen and will probably not be the last.
June 2011, theat the first big fall
Although cryptocurrency was born in 2009, the history of its quotations has been available since August 2010, when you access the graphics of the site BuyBitcoinWorldwide, even if the cryptoactivity begins to be marketed permanently with the establishment of Major trading houses from 2013..
Before this date, the price has been calculated per transactionspecific events that involved Bitcoin, such as the exchange of 10,000 BTC for two family pizzas in May 2010 or the purchase of 5,000 BTC for 150 Norwegian kroner, 27 dollars in 2009. In both transactions, the BTC unit was quoted at around 0.5 hundred. .
The February 9, 2011 the price of Bitcoin exceeds for the first time the price of 1 dollar, remaining more or less stable in this quote the following months, until starting to increase slowly in May and reaching a high of $ 29.6 on June 8, 2011.
Bitcoin award for mid-2011. Source: CoinMarketCap
After this rise, lat the first big fall price of Bitcoin it's goneor el 11 June 2011, when it was marketed at $ 14.6, it began to fall, reaching $ 6.55 in August 2011 and reached its lowest point in November of the same year, when it was quoted at 2 , 00 dollars.
The decline at that time was over 90% and affected many of the early investors. According to the badysis, this cancellation period, in June 2011, is linked to the publication of a report on The Silk RoadA famous black market black cloth has already closed on June 1 of the same year. It has been argued that transactions on the site were carried out "under a pseudonym and in bitcoins", drawing attention to cryptocurrency.
The highs and lows of 2013
A few months after peaking at $ 2.00 the unit, the market began to recover in November 2011 with a Bitcoin hovering around $ 4 at the end of this year, trading at more than 7 , 00 USD in January 2012. However, after reaching almost $ 7.40, it fell again to $ 4 in February.
However, maintaining a steady growth in the second half and ended 2012 with a value greater than $ 13. C & # 39; s was in 2013 that cryptocurrency has experienced a second sharp rise and fall, after remaining more or less constant between 2012 and 2013.
The beginning of 2013 represented an ascendant phase for cryptocurrency starting at $ 49. But one second big ride and fall occurs the 9 April 2013 when, after several increases, Bitcoin peaked at $ 230 to fall, only a week after, up to 68 dollars.
Bitcoin Award for April 2013, according to CoinMarketCap
The emergence of foreign exchange houses and the advance of the cryptocurrency trade are seen as one of the causes of Bitcoin's growth, giving rise to greater coverage by the media, which has allowed the price of overcome the price barrier. the $ 200 and reach the 3 digits.
Analysts also linked this situation to the currency crisis that was unfolding in Cyprus where, for 12 days, citizens were prevented from making bank withdrawals. This meant that, in a circumstantial way, many Cypriots had come to Bitcoin to protect themselves.
However, the biggest fall of this year it happened inbe notOviembre and december of 2013when the price approached $ 1,200 after several months of detention at levels close to $ 100. The highest peak was observed on December 4 with a price of $ 1,147, then dropped on December 6 to $ 694.
Bitcoin broke $ 1,000 in 2013, according to the CoinMarketCap chart
After this date, cryptoactivity has had its ups and downs before falling to $ 522 in mid-December 2013. A further decline in early January 2014 has reduced the price to nearly $ 300.
The hack a Mt. Gox and the fall of 2014
The price of cryptographic money had recovered at the end of January 2014, hovering around $ 900 to fall in February to just over $ 500 (a drop of nearly 50%).
Bitcoin Award for February 2014, according to CoinMarketCap
This decline came after the outbreak of the Mt. Gox trading scandal, announcing that this first platform for buying and selling bitcoins – and one of the most popular at the time – had been hacked . The case made the headlines after the disappearance of 850,000 bitcoins, listed for the month of February 2014 at $ 450 million plus $ 27 million in cash.
The exchange house declared bankruptcy before these events and 200,000 bitcoins were then recovered. From that date until now, users have turned to the courts to recover their funds and the current Commissioner of Currency Exchange Trusts has sold some of the cryptocurrencies to compensate those affected.
This incident set a negative precedent, raising doubts about the security of Bitcoin and damaging the value of cryptocurrency. The rest of the year, prices ranged from $ 300 to $ 600. From 2014 Bitcoin only still exceeded $ 1,000 in 2017.
2017: the great year of Bitcoin
The most popular rise in crypto badet prices occurred in 2017, when the sector experienced unprecedented growth and progress, with growth in the number of foreign exchange bureaus around the world and increased interest in the cryptocurrency market.
As of this year, Bitcoin has a quote above $ 1,000, with a record $ 1,200 in February, which was exceeded when it reached $ 2,000 in May. This amount continued to increase in the following months, reaching over $ 7,000 in November and reaching the historic high of nearly $ 20,000 in December 2017.
Bitcoin award for December 2017, according to CoinMarketCap
The launch of Bitcoin Futurs is one of the engines of the surge in 2017. This fact, according to a survey conducted by the US Federal Reserve San Francisco, shows that the introduction of financial instruments hitherto outside Cryptocurrency negotiations may affect price behavior in the cryptographic market.
2018: Low price, growth of the sector
After being erected into foam at the end of 2017, 2018 begins a period of continued decline that reached its lowest point in November, when it had already fallen below the $ 4,000 mark. This decline was considered a blow to investors. After anxiously waiting until now in 2018, the price will return to the levels reached in December 2017.
However, despite the decline, we should take into account the growth that the crypto-market has reached at this stage of the history of Bitcoin, which allows to see this fall among the natural cycles followed by the cryptoactif in these country. The years The growth of the cryptography market is illustrated in the following graph. BuyBitcoinWorldwide, reflecting that the price of bitcoin has increased by 148.770% in the last 7 years:
Bitcoin price growth in the world according to BuyBitcoin worldwide
The table shows the price increase of Bitcoin, in dollars and percentage, over recent price, last week, last month or last year. You can also see the price evolution of the BTC over the past 2, 3, 5 and 7 years. Figures show great market growth observing that, despite the current decline, there is an exponential difference from the prices of one or more years ago.
The image selected by spiritofamerica / stock.adobe.com
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