Crypto Frontline

Bitcoin Price Over the Last Five Years

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Bitcoin Price Over the Last Five Years
November 27
08:21 2017

The year 2017 had been by far the best year for bitcoin. However, the last few years had been intense as well, in terms of the price evolution, that’s why we’ve assembled this article so you will have a clearer picture on how the price of bitcoin had moved since 2013 until the present time.

How the price of bitcoin fluctuated?

We’ll make our price analysis starting from 2013 since volatility had been high from that point. Looking at our chart below, you can see that 2013 had been the second best year for bitcoin, after 2017, since the price managed to reach 1090 US dollars, starting the beginning of 2013 at 13.5 US dollars per bitcoin.

Following the huge surge of price, 2014 had been a very negative year for bitcoin, the price retreating around 70% of the gains, following the hack of the bitcoin system and surging doubts about the security that it promised.

2015 had been a quiet year, in terms of volatility, the price of bitcoin consolidating around the 200-250 price area and since 2016, the price of bitcoin had started to pick up again. Confidence in the bitcoin system had been picking up in 2016 and the price managed to reach the 900 $ area.

Lastly, 2017 had been by far the best year for bitcoin, the price surging from 945 US dollars to a peak of 7772 US dollars reached in November. The rally is unprecedented and even though various analysts claimed that the price will drop significantly, the bullish trend continues to extend higher. Who knows how far can it go?

The truth is that the price won’t go up forever. Corrective moves will take place in the future. Even though the price managed to reach such high levels and we see three figures gains, there is still increased skepticism over bitcoin’s ability to serve as a universal currency for exchange of goods and services. Lack of regulation and the huge number of system hacks from the last few years show that the bitcoin system still needs improvements. Up until now, no bullish leg lasted more than a year, so we should see the price heading south in 2018 or event at the end of 2017.

 

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