Disclaimer: This article does not constitute any investment advice.
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Looking back, Bitcoin has experienced more than 10 years of ups and downs.
In the past 10 years, Bitcoin has had too many incredible experiences. Even in the ever-changing Internet entrepreneurship world, it is difficult to find similar legendary cases:
startups will experience smear and plagiarism from competitors, exclusion and suppression by industry giants, Bitcoin has experienced bans and bans from governments around the world;
startups may experience capital breaks, valuation declines, and company transformation, while Bitcoin has experienced many The incident where the value of the second-value fell by more than 80%;
startups may experience infighting with teams and the departure of talents, while Bitcoin was directly released by hundreds of competing currencies
0 Novice wrote in the article "In the past 10 years, Bitcoin has "dead" 341 times..." that in the 10 years of its birth, mainstream media began to target Bitcoin and judge its "death" for various reasons.
Why has Bitcoin been able to "resurrect from the dead" countless times in these 10 years?
Learning from people can understand gains and losses; learning from history can help you know success and replacement.
Today, let’s learn from history and analyze the four big bear markets since the birth of Bitcoin.
Bear market definition: The price continues to fall by no less than 20% for at least 2 months.
Through this definition, we found that since the birth of Bitcoin, we have experienced 4 major bear market stages.
Bear market 1
January 11, 2012 - July 11, 2012
Hacker era
Duration: 185 days
Highest price: US$7.08
Bear market minimum price: US$4.22
Decline: -40%
Bitcoin ushered in its first major bear market in 2012.
This year's bear market was mainly affected by a series of hacking incidents and other negative events that led to Bitcoin uncertainty.
htmlOn January 11, the price of Bitcoin reached the highest value of the bear market cycle.But after TradeHill, the second largest Bitcoin exchange, was shut down due to regulatory issues on February 13, things went in an extremely bad direction.
For the six months since then, Bitcoin has been in a bear market until the price fell to $4.22 on July 11. Other events that caused the price of Bitcoin fell due to
include the incident of Bitcoinica being hacked and 18,000 bitcoins being stolen, and Linode being hacked and 46,000 bitcoins being stolen.
Bear market 2
August 7, 2012 - December 6, 2012
Legal litigation era
Duration: 111 days
Highest price: US$13.35
Bear market minimum price: US$8.4
Decline: -37%
The second bear market appeared in the form of legal lawsuits shortly after the first bear market caused by hackers on the exchange ended.
This series of litigation incidents caused more negative emotions and greater loss of confidence among market participants at that time.
htmlOn August 6, Bitcoinica was sued in court.The next day, the price of Bitcoin fell, which shows the market's attention to this event.
In addition, a series of negative events continued in September, causing negative emotions to spread.
Bear market 3
November 29, 2013 - January 7, 2015
Cryptocurrency Winter
Duration: 415 days
Highest price: 1149.14
Bear market minimum price: 197.24
Decline: -83%
2013 is not only a very important year in the history of the Bitcoin bear market, but also a very important year in the entire Bitcoin history.
In October 2013, the US FBI officially closed the online black market and the first modern dark web - Silk Road.
However, the importance of Silk Road in Bitcoin history is that it represents a form that the crypto asset has been widely adopted by users for the first time.
Although all activities were stopped in the Silk Road in October that year, the price of Bitcoin continued to rise until the end of November. Only then did the market completely digest the impact of this incident and turn to a decline.
Bear market 4
December 17, 2017 - so far
The longest winter in history
Duration: 490 days (post time: April 22)
Highest price: 19875.85
Bear market lowest price: 3155
Decline: -84%
Bitcoin currency market was brilliant in 2017, but the market performance in 2018 was not ideal. Affected by multiple policies, the Bitcoin price began to fall sharply.
2018 Bitcoin has experienced three major plunges in the whole year. The most recent time in mid-November 2018, in the fork war of BCH, the price of Bitcoin fell from $6,460.53 to $3,155.
In the past six months, the cryptocurrency market has been in a downturn, and it is also the half year when Bitcoin has been "dead" the most times.
At the beginning of this month, Bitcoin led the market to bring a wave of Mavericks, and the price also rose from $4144.24 to a maximum of $5407.18.
This month, as the market warms up, there are also various laughter and joy in the currency circle.
Is the bull market coming?
What do you think?
Statement: This article is a work of the author who has settled in the "Mars" and does not represent the official position of Mars Finance. Please indicate the source, author and link to this article when reprinting
Tips: Investment is risky, so be cautious when entering the market. This information is not used as an investment and financial advice.
