Despite the Fall, Bitcoin Is Stronger Than Last Year
Due to the coronavirus epidemic showing its effect all over the world, there have been great value losses in the market. Every time we think the decline has stopped, there is one again. Support levels are broken one by one. However, the same scenario was experienced last year. So is there any need to create panic mood? Is there going to be decline ever after? Let’s look at the statistics of previous years.
When we look at the lowest levels of Bitcoin since 2012, we can infer that the panic air will dissipate. The reason for this is that when we compare it to the lowest levels of previous years, BTC came out stronger except for one year only.
Bitcoin’s Price Adventure
When we go back to 2012, the leading cryptocurrency was not yet known worldwide. At that time, the price ranged between $4.20 and $ 15.32. The lowest price of 2012 was at $4 levels. However, despite this low price, Bitcoin closed the year at $13.
When we arrived in 2013, Bitcoin had exceeded the $1000 level for the first time. Starting 2013 at single-digit levels, Bitcoin climbed to $1,119 in November and closed the year at $750.
In 2014, the lowest price it saw was $200. The lowest level in 2014 was so much above that of two years ago. When compared, it could be seen that Bitcoin increased in value.
Bitcoin, which closed 2014 around $300, drew a stagnant image in 2015. Falling below the previous year for the first time after 3 years, Bitcoin saw the lowest level of 2015 with $180. It is also worth noting that it closed 2015 at $422.
Halving took place in 2016 and the lowest price was $368. In 2017, when the historical record was broken ($20,000), the lowest level was around $780.
While $3,200 was the lowest level in 2018, in 2019 it was $ 3,360.
Looking at these statistics, although this fall of Bitcoin may cause manipulations, the same kind of situations have been experienced in recent years.
Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.