Crashes or, deep drops in the price of Bitcoin, often make investors so anxious that they go into panic selling. The biggest Bitcoin crash occurred on April 10, 2013 when the US Financial Crimes Enforcement Network (FinCEN) shut down crypto exchange Bitfloor. announced that crypto exchanges are required to register as a “money transaction company”. At that time the price of Bitcoin immediately collapsed from the price of US $ 259 to US $ 69 or down 74% within 24 hours. If we trace Bitcoin from now (May 2022) 5 years ago then we will find 5 Times Bitcoin Crash in 5 years
First, in 2017 Bitcoin had peaked at a price of US$ 18,953/BTC, but dropped drastically to US$ 3,194/BTC or decreased by 83.15%.
Second, in 2019, the price was US$ 10k BTC, but in 5 weeks it fell to US$ 5,344/BTC.(47.48%). There is still a sell-off and investors prefer to have fiat USD money.
Third, in April 2021 the price of Bitcoin had peaked at the level of US$ 59,979/BTC (ATH April 2021), but in 14 weeks it fell to the level of US$ 31,777/BTC (June 2021). But in the following days Bitcoin price went up and could print a new ATH at US$68k on November 10th.
Fourth, Bitcoin entered a bearish zone within 10 weeks after hitting a low of $36,294/BTC or down 44.6%. (23 January 2022).
Fifth, Currently, although Bitcoin price has reached its mid-peak level, on 02 April 2022 Bitcoin price was $46k and on today 26 May 2022 it dropped to $29,600 and Bitcoin market cap eroded by 36% for 8 consecutive weeks. Even on May 12, 2022, Bitcoin touched the price of US $ 25,400/BTC which was the lowest point in 17 months.
Currently, macroeconomic conditions are not favorable for the Bitcoin market because the Fed (US monetary authority) raises the USD interest rate which tends to be negatively correlated.
Although what happened in the past cannot predict the price of Bitcoin accurately, at least historical data will help to better understand the phenomenon that occurred and be useful for decision making.
The current state of the crypto market is also in a state of chaos, the collapse of Luna, Shiba Inu, and even Litecoin have been delisted by several crypto exchanges.
Many crypto investors cry and ask, "Will Bitcoin and Altcoin prices rebound or will they fall. To reduce anxiety, let's take a look at the experts at predicting Bitcoin:
1. According to Walletinvestor, the price of Bitcoin on 01 June 2022 will be $27k, and predicts the Bitcoin price will be $49k in the next 1 year.
2, According to Tradingbeasts, BTC price will reach $29k in June, max price $37k and low price $25k. As for January 2023, Tradingbeasts predicts the price of Bitcoin at $36k.
This thread is for information only, not as a recommendation to buy or sell Bitcoin.
First, in 2017 Bitcoin had peaked at a price of US$ 18,953/BTC, but dropped drastically to US$ 3,194/BTC or decreased by 83.15%.
Second, in 2019, the price was US$ 10k BTC, but in 5 weeks it fell to US$ 5,344/BTC.(47.48%). There is still a sell-off and investors prefer to have fiat USD money.
Third, in April 2021 the price of Bitcoin had peaked at the level of US$ 59,979/BTC (ATH April 2021), but in 14 weeks it fell to the level of US$ 31,777/BTC (June 2021). But in the following days Bitcoin price went up and could print a new ATH at US$68k on November 10th.
Fourth, Bitcoin entered a bearish zone within 10 weeks after hitting a low of $36,294/BTC or down 44.6%. (23 January 2022).
Fifth, Currently, although Bitcoin price has reached its mid-peak level, on 02 April 2022 Bitcoin price was $46k and on today 26 May 2022 it dropped to $29,600 and Bitcoin market cap eroded by 36% for 8 consecutive weeks. Even on May 12, 2022, Bitcoin touched the price of US $ 25,400/BTC which was the lowest point in 17 months.
Currently, macroeconomic conditions are not favorable for the Bitcoin market because the Fed (US monetary authority) raises the USD interest rate which tends to be negatively correlated.
Although what happened in the past cannot predict the price of Bitcoin accurately, at least historical data will help to better understand the phenomenon that occurred and be useful for decision making.
The current state of the crypto market is also in a state of chaos, the collapse of Luna, Shiba Inu, and even Litecoin have been delisted by several crypto exchanges.
Many crypto investors cry and ask, "Will Bitcoin and Altcoin prices rebound or will they fall. To reduce anxiety, let's take a look at the experts at predicting Bitcoin:
1. According to Walletinvestor, the price of Bitcoin on 01 June 2022 will be $27k, and predicts the Bitcoin price will be $49k in the next 1 year.
2, According to Tradingbeasts, BTC price will reach $29k in June, max price $37k and low price $25k. As for January 2023, Tradingbeasts predicts the price of Bitcoin at $36k.
This thread is for information only, not as a recommendation to buy or sell Bitcoin.
