- Bitcoin reached its highest Christmas price in 2017.
- Bitcoin dropped by about $500 in a 24-hour period from Christmas Even to Christmas Day in 2018.
Bitcoin has been around for a decade of Christmases, but how has the price been affected through this time? Let’s take a look to see how the price of Bitcoin has been affected by Christmases of years past.
- 2010: $0.06
- 2011: $4.00
- 2012: $12
- 2013: $654
- 2014: $318
- 2015: $456
- 2016: $868
- 2017: $13,593
- 2018: $3,767
- 2019: $7,315
During the first few Christmas celebrations that Bitcoin went through, the asset was still rather low, going no higher than low double digits. However, by 2013, Bitcoin started to look up, which happened the same year that Bloomberg TV host Matt Miller gifted some of his colleagues with the cryptocurrency as a gift during the “12 Days of Bitcoin” series. However, a hacker stole the Bitcoin after Adam Johnson reached the QR code for the private key associated with his gift certificate.
In 2014, the price went down by about half of its previous year’s value. Just days before, a major Bitcoin trader named Charlie Shrem was arrested and sentenced to two years in prison, after his transactions on the Silk Road online marketplace.
Christmas 2015 brought a new milestone – 15 million Bitcoins mined. Transactions increase exponentially through 2015, rising up by five times the transactions since January in that year. By the following Christmas in 2016, analysts had been hopeful that Bitcoin would still reach $1,000 that year, but the token didn’t end up passing that milestone until the beginning of 2017.
The token went on to reach $20,089 on December 17th, 2017. By Christmas a week later, Bitcoin had dropped down to $13,593 in value on Christmas, continuing to tumble down to $9,674 within just a single month. At the end of 2018 at Christmastime, Bitcoin had only managed to get to $3,767, even though the price had reached $4,262.48 the day before. Some news media websites examined why the price dropped so drastically in just 24 hours, suggesting that some consumers were cashing out for the holiday. Others suggested market manipulation that had been corrected then.
Today, Bitcoin stands at $7,315.66 at the time of writing, dropping 2.79% in the last 24 hours. While the asset is on its way up, the price jump that Bitcoin experienced in 2017 is still the highest its ever been. What might next Christmas bring? Will the price see a massive leap or drop in the next 24 hours like last year?