Can History tell us something about the future price of bitcoin?
2013 is often remembered as one of the worst crashes in BTC history. First, the price dropped from $233 to $67 in April, a 71% drop in 12 hours, then the price remained extremely volatile in the last two months. It broke records on Nov. 30, 2013 with a value of $1,126, but declined by 19% within 24 hours, only to recover on Dec. 5, 2013 to $1,155. The price kept decreasing by 41% and increasing by 47%, before dropping to a surprising value of $503 on Dec. 19, 2013. From an all time high of the first week of December, the price had declined by 56%. The price drop was such that it took bitcoin over three years to finally cross the $1,000 barrier again.
https://www.ccn.com/analyst-predicts-bitcoin-price-drop-2800-year/
Image source by ccn.com
For future viewers: price of bitcoin at the moment of posting is 8470.19USD
Crypto currency is not traditional market so it will be hard to compare it to past trends. New people are entering the space every day and institutional money. We are going to see a crazy year in crypto in 2018. But its crazy every year.
Resteemed and Upvote by @drakbirkenau Thanks to @daily.readings!!