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2018 Bitter Year for Bitcoin

2018 bitter year for Bitcoin as there is a high likelihood for it to register the biggest loss in the calendar year since it was created. For the year 2018, Bitcoin started with close $14,100. However, at the time of writing this article, Bitcoin is being traded under $3,675.54, presenting an almost 73% price margin drop the biggest loss ever registered during a specific year.

A few weeks ago, Bitcoin traded close $6,300. A price that was relatively stable and Bitcoin had from August until November, with the exception of a small period of time in which Bitcoin surpassed $7,000 as such ended the year at 73%.

Bitcoin lost around 80% since its all-time high registered back in December 2017. This year, Bitcoin marked a new low in more than 12 months when its price went under $3,600 in some exchanges.

Data provided by CoinDesk read possible until now, 2018 bitter year for Bitcoin. It windup the year close to $800.

Contrast of Bitcoin

In 2011, Bitcoin registered an increase of 1,473%. 2012 continued to grow, reaching 186%. Best year was 2013, its value increased 5,507%. 2013, price moved from close to $15 and surpassed $1,000.

The market experienced 2013, three years later, Bitcoin remained relatively stable. Price of virtual currency lost 57% of its value in 2014. Grew 35% 2015 and 125% in 2016. In 2017, one of the best years for Bitcoin registered a price increase of 1,431%.

The year 2017 started with Bitcoin trading under $1,000 and reached December traded around $20,000. However, the year ended close to $14,100.

Although 2018 bitter year for Bitcoin, several analysts ask the market to be calm, focus on improving it as U.S. Securities and Exchange Commission (SEC) could approve first Bitcoin exchange-traded fund come February 2019.

 

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