• Bitcoin has risen from USD 3,700 on New Year’s Eve 2018 to USD 7,200 currently, a 95% gain

The latter half of 2019 has been bearish, which makes it easy to forget how much value Bitcoin has gained this year. In reality, Bitcoin has risen from USD 3,700 on New Year’s Eve 2018 to USD 7,200 currently, which is a 95% gain. Even though the United States stock market has had a banner year and is at all-time highs, the S&P 500’s gain of 30% during the same period of time pales in comparison to Bitcoin.

Bitcoin actually began crawling out of a prolonged bear market as 2019 started, with the bear market low of USD 3,200 being reached only a few weeks before New Year’s Day 2019. Bitcoin actually remained volatile and flat through the beginning of February, at which point Bitcoin began to lift off slowly, reaching USD 4,000 at the end of March.

The fireworks began to go off in April and May, with Bitcoin rising to USD 8,500. Then Bitcoin skyrocketed as high as USD 13,800 in late June and early July.

Since then the Bitcoin market feels somewhat bearish and has been in a persistent decline. However, after reaching as low as USD 6,500 in mid-December Bitcoin is now back up to USD 7,200, bringing hope that a bottom has been reached and Bitcoin will begin to rise again as 2020 begins.

 

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