Bitcoin and Cryptocurrency Forum


collapse

Author Topic: These Charts Show The Wildest Crashes And Rallies Of Bitcoin Over The Years  (Read 141 times)

Babyfacemagee

  • Administrator
  • Newbie
  • *****
  • Posts: 18
  • Karma: +0/-0
    • View Profile

The last few days have seen the price of Bitcoin and most other cryptocurrencies drop as a result of numerous events that have put FUD (Fear, Uncertainty and Doubt) all over the crypto world like a giant storm cloud.  Many new crypto investors that have put some of their hard earned money into various crypto currencies over the past several months are probably wondering if they've made a mistake.  With double digit corrections over the past couple of weeks and all the rumors coming out of China of banned exchanges, ICOs, Jamie Dimon's announcement that Bitcoin is a 'fraud' etc...who could blame them?

Well Charlie Biello at Pension Partners put together several charts that are worth looking at for all those ready to declare Bitcoin dead and the crypto world a failed experiment.  In the above chart you can see that we've seen these wild swings before.  Using an investment of $10,000 in July of 2010 as a starting point the above chart shows us how volatile Bitcoin has been and how that $10,000 had grown to be worth over $3,000,000 in late 2010 only to drop to barely over $200,000 a few months later in early 2011.  You see these kinds of swings repeatedly and the second chart below breaks down some of the most noteworthy crashes of Bitcoin...only to see it rise again to ever greater heights.   

As most of you that follow the crypto market know, where Bitcoin goes...other coins tend to follow and so the question of course becomes...is this just the latest Bitcoin crash to be followed by another record high?  Nobody knows of course and your guess is as good as anyone else's.   But if past history has taught us anything it's that often times in the crypto world just like in the traditional stock market Warren Buffet's timeless quote "Be fearful when others are greedy and greedy when others are fearful" just might apply. 


Pension Partners
« Last Edit: September 15, 2017, 11:42:16 AM by Babyfacemagee »
Use this link to get $10 in FREE BITCOIN when you open an account at Coinbase, the world's most popular and trusted cryptocurrency exchange.

 

* Hot Topics

* Top Boards

* Top Posters

Babyfacemagee Babyfacemagee
18 Posts
CryptoMillionaire CryptoMillionaire
10 Posts
ArtOfWar ArtOfWar
6 Posts
JenCoin JenCoin
4 Posts
ToTheMoon! ToTheMoon!
3 Posts

* Cryptocurrency Polls

  • What percentage of your investment portfolio is in cryptocurrency?
  • Dot 1%
  • 0 (0%)
  • Dot 3%
  • 0 (0%)
  • Dot 5%
  • 0 (0%)
  • Dot 10%
  • 1 (100%)
  • Dot 15%
  • 0 (0%)
  • Dot 20%
  • 0 (0%)
  • Dot 25%
  • 0 (0%)
  • Dot 30% or more
  • 0 (0%)
  • Total Members Voted: 1
  • View Topic

* Forum Staff

Babyfacemagee admin Babyfacemagee
Administrator

* Sponsors

Ledger Wallet protects your bitcoins