Terms like “bear” and “bulls” are nothing but very common financial words. The kind of sell-off that happened in 2018 made each of the crypto users believe that the happy days of the cryptocurrency is nearly ending soon. Confident investors who were bullish on the cryptocurrency were certainly worried about the fact that this kind of activity was very different and unexpected.
Crashes are difficult for investors; it is better that you take some time and compare the last made corrections in the cryptocurrency market. It is all about your understanding of how you deal with your cryptocurrency; if you think that it is just a bubble of expectation, then, of course, you will not put in any effort.
Bitcoin Latest Monitor
I was trying to monitor the latest trend of bitcoin, and I found something worth sharing. As on the date of 23rd August, Bitcoin trading was just above $6,500. However, if we looked back to December 2017, the value of bitcoin reached a number that was unexpected at all. The value was as high as 19,666 dollars, and it increased by almost 60% in just five weeks.
But in the month of February, around 6th or 7th, the price of bitcoin again dropped significantly. The bitcoin price dropped under $10,000, which was slightly difficult to believe. In the next 51 days, the price of the bitcoin was as low as just $6000. During this time, many people claimed that bitcoin was just dead, and very soon, it would have hit 0.
It is unfortunate to say, but the bitcoin price rose and fell at least 13 times and very frequently since 2012.
Reading of the ATH of Bitcoin (All-Time-High Price)
ATH is the way of tracking the highest price of bitcoin, which automatically helps you to track the rise and the fall of the price of the bitcoin. I will give you a reading of the all-time high prices of bitcoin here so that you are able to make the calculation all by yourself. In 2012, the bitcoin price was seen to have dropped to $16, and then in the next two days, the price was seen to have crashed to $7.
In a year, the price of bitcoin again gradually started to take a leap, and first, it struck $49, then in just one day, it again fell to $33. One thing that we have noticed is that the price of bitcoin has been rising and when it is on the way of developing it is showing some sharp increase. This helped the bitcoin to reach the bear market easily and faster than ever.
In each of the bearish waves, the bitcoin has lost almost 40-47% of the price range. Some of the experts have claimed that the way bitcoin has been showing the movements were very similar to Nasdaq 2000, but it’s the value when compared to steroids were comparatively less. Some experts have claimed that there have been almost five drops in the Nasdaq 2000 market. But they maintained an average of 44% throughout the decline and the rise of the market.
It was noticed that in 519 days, Nasdaq had reached as high as 278%, which was unimaginably high. But again, in the next 35 days, the price dropped by 248%. The only difference between Nasdaq and the Bitcoin was just that they were 15 times each other.
Conclusion
It becomes difficult to define the absolute meaning of bear and bull in finance. But going through the risk in cryptocurrency, I found this reference to the bitcoin market from 2012-2013, which I tried to explain in the article. I would appreciate it if you comment and let me know your views.