$20K Day: A Look Back At Bitcoin’s Two-Year Rise and Fall

2019-12-16 22:02

It was two years ago today, that Bitcoin price reached its all-time high value of $20,000, and just one year ago that it reached its current bear market low of $3,100.

On such a significant day, we’re reflecting on all of the ups and downs the first-ever cryptocurrency has experienced since.

On This Day Two Years Ago: Bitcoin Reaches ATH of $20,000

2017 was the year of Bitcoin and cryptocurrency. The leading cryptocurrency by market cap started off the year at under $1,000, and by December 16, 2017, had exploded in value by a factor of over 20 times.

Related Reading | Decision Time For Future Of Bitcoin As Crypto Teeters On Bear-Bull Edge

The crypto asset had become the talk of the mainstream public by Thanksgiving of that year when the asset had been trading just under $10,000.

After $10,000 was broken, extreme FOMO set in an in less than one month’s time the crypto asset had doubled in value leading up to the launch of the first-ever Bitcoin futures trading on CBOE on December 10, 2017.

The crypto asset’s highly-publicized, parabolic bull run later climaxed the following week as it reached $20,000 on December 16, 2017, and the market has never been the same since.

After that moment, the entire crypto market fell into a downtrend, wiping out most of the gains the market stacked up during the bull market. Many altcoins popular then, are now down as much as 99%. Even Bitcoin itself fell as much as over 80% from peak to trough.

December 16th, 2017 – Bitcoin makes an all time high at 20,000

December 16th, 2018 – Bitcoin sets the yearly low at 3100

December 16th, 2019 – ? pic.twitter.com/x0vLNEMDGD

— LilMoonLambo (@LilMoonLambo) December 16, 2019

Last Year Flashback: BTC Reaches Bear Market Low of $3,100

In fact, it was one year later, on December 16, 2018, when Bitcoin reached its current bear market low of $3,100.

Interestingly, the low for Bitcoin price was put in exactly one year after the high was set, suggesting there could be some unique significance within the December 16th date.

With that date back once again and Bitcoin at its most important crossroads yet, whatever happens from today forward, could set the trend and price trajectory for the first-ever cryptocurrency in the foreseeable future and could be the difference between a new low or new all-time high around the next time December 16 rolls around.

Between now and then, Bitcoin will have gone through its next halving – a pre-determined event that reduces the BTC block reward miners received for validating each new block being added to the cryptocurrency’s underlying blockchain ledger.

Related Reading | Bitcoin At Risk Of 12 More Months Of Bear Hibernation, Possible Lower Low 

The future of the young cryptocurrency could be determined in the days ahead, and soon enough we’ll find out if $3,100 really is the low for the bear market. If it is, Bitcoin could set a new all-time high by December 16, 2020. If not, it could be yet another low set this time next year.

Featured image from Shutterstock

The post $20K Day: A Look Back At Bitcoin’s Two-Year Rise and Fall appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Chronologic (DAY) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 43.71 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.2058 (-100%)

reached ago bitcoin day such significant 100

Источник: newsbtc.com

reached ago → Результатов: 66


Bitcoin Hash Rate Reaches All-Time High Showing Futuristic Support For The Digital Currency

Bitcoin’s hash rate has reached an all-time high after doubling its TH/s from December 2018 Bitcoin’s network is the most secure in the crypto market / Bitcoin’s (BTC) hash rate has reached an all-time high after an incredible bull run to $13,750 registered a few days ago. The network continues to expand showing that there […]

2019-7-2 01:36


Bitcoin’s Global Strength Indicator Shows BTC Is Most Overbought Since December 2017

Bitcoin: Most Overbought Since December 2017 Bitcoin (BTC), the most popular digital asset in the market, has currently reached an overbought record in more than a year. The GTI Global Strength Indicator shows that Bitcoin is the most overbought since it reached $20,000 in December 2017. A few days ago, the digital asset surpassed $5,000 […]

2019-4-6 01:56


CEO Brian Armstrong Highlights Coinbase’s Altcoin Trading Collection As XLM Reacts Positively

Stellar Lumens Reacts Positively After Being Added To Coinbase Coinbase continues to expand in the cryptocurrency market. This time, the company has decided to add support for Stellar Lumens (XLM). The digital asset has reacted very positively helping it to leave behind the lowest price it reached a few months ago. The information was released […]

2019-3-20 20:45


2019 will be a pivotal year for Southeast Asian tech startups

With a rising middle class and a booming tech startup scene, Southeast Asia (SEA) sits where China did 10 years ago — on the cusp of a major economic boom fueled by the tech industry. The only questions over the last few years have been: When will the tipping point be reached, and when will SEA mature from a promising regional market into the next big world economy? I’ve seen promising signs that in 2019, our region may finally reach that tipping point.

2018-12-19 02:00


Фото:

ConsenSys, Steemit, and SpankChain Axe Staff Due to Bearish Crypto Market

It was not too long ago when euphoria surrounding the cryptocurrency industry reached its tipping point. The industry hit a record high market capitalization of $813 billion on January 8, 2018. Crypto came out of the rooms of geeky software developers and gamers into the mainstream, as almost every other ICO was able to raise millions, if not billions of.

2018-12-10 22:00


Could Central Bank Digital Currencies Be Better Than Virtual Currencies? Or Ride And Die Bitcoin?

Virtual currencies have been growing during the last years. Bitcoin has reached $20,000 dollars and several experts believe that it could be able to replace gold. However, there are some analysts that suggest that Central Bank Digital Currencies (CBDCs) could replace virtual currencies as we know them. Just a few weeks ago, Christine Lagarde, the […]

2018-11-26 13:44


дальше еще 17 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Mt. Gox moves over $9 billion in BTC to new wallet

Bitcoin price dipped nearly 2% on Tuesday morning to trade at lows seen last Friday before rebounding slightly as of writing. This BTC price decline came after the latest crypto news around defunct cryptocurrency exchange Mt.

PEPE and FLOKI extend gains as memecoins tease bull run

Pepe price is up 80% this past week and over 140% in 30 days. FLOKI has jumped 36% this past week and 53% in the last 30 days. Pepe (PEPE) was the standout memecoin this past week, rising more than 80% to reach a new all-time high of $0.

Sui price recovery gains momentum as Mysticeti upgrade launches on mainnet

Sui price has witnessed a significant price recovery in the past week, following the launch of its Mysticeti upgrade on the mainnet. The Mysticeti upgrade provides a breakthrough in consensus latency and transaction speeds and it has positioned Sui as one of the fastest blockchains, driving market confidence and user adoption. Sui Network Mysticeti upgrade […]

SEI price up as Sei v2 upgrade proposal receives overwhelming support

The price of Sei (SEI) has surged by 9.41% in the past 24 hours to trade above $0.57 as the Sei v2 upgrade proposal gains remarkable traction within the crypto community. The upgrade proposal by the Sei Foundation aims at enhancing Sei’s blockchain with improved Ethereum compatibility and performance. With the proposal now live and […]