Many cryptocurrencies have fallen and risen throughout the year. More and more currencies came to the market, ICOs continued happening, and some of them caught the attention of the public because of their performances. Most of the cryptocurrencies have seen a downfall (while we compare themselves with last year’s prices), Including Bitcoin. Our team has decided that this week we are going to write about the annual performances of top 5 coins (we looked at the ranks by their market cap), and today we are going to start with the performance of the world famous Bitcoin.
As we all know Bitcoin’s price has dropped a lot since last year, so this caused a massive decrease in the market cap. When we look at the first quarter of 2018 (From January to March), Bitcoin’s year did not start very well. Although it had its highest price in the month of January, which was approximately 17,533 USD (BTC/USD) and at that time they had a market cap of 294,290,592,412 USD. But this price did not last long, because in February their price fell by 65% (6121.35 USD), it increased after that to approximately 11,200 USD, but at the end of March, it was back to 6,890.52. The Second Quarter (Q2) was not as bad as Q1, although it did not have an increase in price from the beginning of April to the end of June, but it had a rise in the middle. During the month of May, it had its highest value of the quarter with 9,895.55.
However, this was the last time Bitcoin saw an increase in price in Q2. Q3 is the only quarter that the price of Bitcoin was higher at the end than in the beginning. With only 3% increase in value, the 3rd quarter was closed at 6,602 USD (highest price of the month was 8,344.98, and lowest was 5,985.71). Q4 (the last quarter) was the worst for the value of Bitcoin. Bitcoin had its lowest price in the month of December (3,201.75$) and the till now (27/Dec/2018) Bitcoin’s prices witnessed a 41% decrease (From October to December). So through the year, Bitcoin did not have any good or significant performance. With the data that we have, we calculated that they had lost approximately 170 Billion dollars.
As we saw, Bitcoin did not have a good year. What do you predict to happen to bitcoin in 2019?
Bitcoin (BTC) price, charts, market cap, and other metrics. (n.d.). Retrieved from https://coinmarketcap.com/currencies/bitcoin/#charts
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Bitcoin In 2018: The Unfortunate Year of Bitcoin. was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.