Bitcoin is attracting many new crypto-investors. Despite being volatile, it’s the most stable of the top 10 crypto-currencies. It’s been twelve years since the first Bitcoin exchange.
For the last 12 years, people have seen different trends. It changes so rapidly that it can be confusing to make a choice? When should you buy it? When should you sell?
Although the past doesn’t dictate the future, the market tends to repeat it’s patterns. Thus, you have the highest success chance if you understand the bitcoin price history.
How Has Bitcoin Gone This Far?
Bitcoin never stopped surprising investors. It’s grown steadily for most of the time. You can see on a graph it’s stayed on the same spot for many months.
The coin has never gone off the charts consistently. We’ve only seen it happen twice: December of 2017 and Jun of 2019.
For new players, it may seem like Bitcoin went big out of nowhere. The reality is, it never stopped growing. If we ignore the eventual spikes, we’ve never seen a negative trend.
In the worst case, Bitcoin bounced back from the market ceiling and kept the same value for long periods of time.
Then, what can we learn from its price history?
The Initial Price History Of Bitcoin
We’ve all heard it. “If you bought BTC in 2011, you’d be a millionaire today!” Like many others, Bitcoin was an emerging trend at that time.
The first stage you’ll see goes from the invention of Bitcoin until the first burst in 2017. It’s the first time people hear about cryptocurrencies in general.
Isn’t it strange? Until 2017, there weren’t any downtrends, counting from 2011. It was certainly the best to invest.
The reason for this is the popularity. Back then, BTC was in the Expansion Stage. Compared to 2020, nobody knew that Bitcoin existed.
In 2017, the crypto market got enough activity. That’s when we started to see the usual patterns of the financial game. The early birds, of course, made a fortune.
The Bitcoin Bear Market
Since 1900, bear markets have occurred every three to five years. When they come, these events last about a year. According to history, bear markets turned into 80% of the time.
What we’ve explained is what happened to Bitcoin next. After the “big crash,” Bitcoin started this negative trend. Prices weren’t going down, but neither going up. You could look at it as the market floor.
One year later, Bitcoin rises in the first half of 2019. Coincidental? No, predictable. At this point, investors have studied Bitcoin for eight years since 2011.
That’s more than enough to spot the long term pattern. Ignoring the spike, you see the slight upper inclination in the chart. That’s what we are experiencing in 2020.
For many reasons, investors prefer to stay away from crypto. They are popular for being the most volatile values in the market. But even if that’s true, you can still profit by studying its past performance.
Volatility is what makes it attractive for new investors. We love the idea of scoring a home run, even if the risk is notable.
All in all, Bitcoin remains stable and won’t go down anytime soon. No matter how much it skyrockets or crashes, the long term projection is likely to be good. Just like its history shows.