Crypto Savant Says Forget About the Bears and Bulls, Bitcoin is on a Sustained Growth Path
Bitcoin might have crashed over 80 percent from its all-time high at $20,000 and currently, the market is moving towards a bull run which could lead to another strong rally or might end up in a dump.
But that’s not the most important part as sooner or later bitcoin market will see another high only to go through yet another bear cycle which if happens would be no surprise because we have already been there, done that and got a T-Shirt (or not really). It’s simply a cycle that has been already occurred 3 times, the difference is how much higher we will go this time.
Now, if we take a look at the Bitcoin throughout its 10-year journey, the yearly lows depict quite a powerful picture, as James McDowall, the co-founder of Polybird shares the stats on Twitter.
In 2012, the yearly low of Bitcoin has been mere $4, that too three years after Bitcoin was first created as a peer-to-peer network where there is no involvement of any middleman like banks or financial institutions.
Moving forward in 2013, this number was $65 while the next year, it got into three digits at $200. The year of 2015, which until now was the longest bear market saw a serious dip in Bitcoin prices and went down to $185, which is about 7 percent lower than the previous year’s low.
2017 registered the yearly low at $780, the year that marked the all-time high (ATH) of $20,000. Now, the last year which is still very much fresh in our memories, Bitcoin hit the low at $3,200 in mid-December. Here, Bitcoin crashed about 84 percent from its peak but is still seeing progress over the years.
While the yearly lows keep on being higher lows, the volatility is taking a dip. One of the most crucial and concerning factors of cryptocurrency market has been its high volatility. Time and again, regulators have expressed their concerns over Bitcoin volatility but it has been actually going down.
In 2012, where the volatility was at 10 percent, the next year it surged to 14 percent. However, from here onwards, it has been on a constant downward shift with one exception. From 12 percent in 2014, Bitcoin volatility went down to 8 percent. Both 2016 and 2017 saw it at 5 percent while last year again saw an increase in volatility as it registers at 7 percent.
In the past 10-years, the flagship cryptocurrency has been gradually growing when it comes to decreasing volatility and making higher lows, which means the market is slowly but surely maturing.