When Coinbase went public, I wrote that it was ‘ the end of the beginning for crypto but new growth needs uses beyond trading’. While the current price fall is very significant, the price level, for both bitcoin and Ethereum, is still historically high. Mid-March 2020, when the price fell as low as $4,000 as financial markets reacted to Covid.25 November 2018 when the price went to $4,000 as crypto winter set in.5 February 2018, when the price fell below $10,000 as the bull run ended.24 December 2017, when the price fell from the $20,000 peak of the 2017 bull run.The end-of-day bitcoin price has only fallen by more than 25% over seven days on four other occasions since the start of 2017. The Ethereum price reached an all time high seven days ago, of $4,308, but approached as low as $2,200 today before recovering above $2,800. Today, Wednesday 19 May, it has reached as low as $36,000, although it is now recovering towards $40,000. The bitcoin price was as high as $58,000 last week on Wednesday 12 May. Click here to subscribe and get these data-driven cryptocurrency market insights delivered to you every week!Ĭryptocurrency prices have plunged this week, falling by 30% or more. However, with analysts speculating the bull run will continue until Christmas, many experts expect to see BTC hit $100,000 by the end of the year.This blog is an excerpt of today’s Market Intel Report, written by Chainalysis Chief Economist Philip Gradwell. There’s no telling what could happen to BTC in the next couple of months, and diminishing returns mean we’re unlikely to see such extreme price action. In the same period in 2017, BTC grew 90%.Īfter a head and shoulders pattern (of which BTC has just seen this year), BTC jumped from $6767 on November 1 to a high of 19,497 on December 16 - up 188%. After its September 2021 low, BTC soared 62% to a new All-Time High of $65,992 on October 20.
This year, it dropped 22% below its $52,633 high, while in 2017, it dropped 35%.įollowing the dips, Bitcoin rapidly grew during ‘Uptober’. This year, BTC rose from $29,807 on July 20 to $52,633 on September 6 - an increase of 76%.īTC then suffered a slight crash during September in both 20. On July 16, 2017, 1 BTC cost $1929, growing 153% to a high of $4892 by the start of September.
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