After falling to less than 13 thousand dollars.. How many times has the price of the Bitcoin currency collapsed?

After the rose of Bitcoin in a crazy manner this year, and exceeded the barrier of $ 19 000 a few days ago. The world was surprised by the collapse of its price below $ 13 000,thus losing about 20% of its value in just 5 days; but this collapse was not the first and not the worst in the history of the default currency was the worst in 2011 and in 2013 and the collapse of April 2014.

When the virtual currency was first floated in 2009, it was almost nothing in the market, and it was sold in March 2010 at $ 50 versus $ 10,000 Bitcoin. That is,their value was approximately $ 0.003.

The fledgling currency gradually gained confidence, and by May 2010 its price was below $0.1, and then jumped to $ 0.8 in July 2010.

February 2011 is an unforgettable month in the history of the currency of the Bitcoin,where it finally managed to attain the value of the dollar and the currency ofthe Bitcoin equaled one dollar, and soon jumped to 31 dollars in July of thesame year.

December 2011 .. First collapse of 31 to 2 dollars

Within a few months, specifically in December 2011, the first collapse of the currency of the Bitcoin currency took place, dropping from $ 31 in July to $ 2 in December.

The year following this major collapse saw slow progress of the currency, which reached a year later, to $ 13, followed by a very rapid rise of 5-10% in the firstmonths of 2013 and the price in April reached $ 266.

Second collapse: worth less than half

The following month, the second collapse in the history of the currency by almost 50%, the price dropped in May 2013 to 130 dollars, and continued to decline until June 2013 to reach $ 100.

In October 2013, the currency began to recover again to reach $ 150, and continued to rise to $ 1242 in November 2013 and then came the third collapse of the currency,which fell to $ 600 in December and the end of the month reached $ 1,000.

The currency began to recover again in June 2014 and continued to rise until April 2014, falling to $ 530 after a series of arrests around the world for its clients. It rose again in May 2014 and reached $ 440 at the beginning. Then the price rose 30% But the price fell again in March 2015 to 200 and then $ 300.

Over the next few months, the currency rose in June 2016 to $ 750 but its price fell to$ 630 in September, and recovered over the months of October and November and reached $ 1,150 in January 2017. Then it fell in the following days to 920,February and March to $ 1290 dollars and depreciated slightly in April and then started up madly over the following months, exceeding the $ 19,000 barrier a few days ago, until the sudden collapse on Friday, to below $ 13,000.

How does Bitcoin 's users explain its sudden price collapse?

In the absence of expert analysis of the collapse of the virtual home currency from $19,000 to less than $ 13,000 in a few days, currency users have raised the issue of low price for on-line discussion. In contrast to expectations, users were not too concerned about the low price, calling it " Natural "and linked to some holiday season, while others linked it to the entry of many beginners to the market of Bitcoin.

Through the"Bitcointalk" forum on the Internet, here are some of the most common explanations users have offered for sudden currency collapse:

"Correcting"

Some users see the collapse of the price now as natural and nothing to worry about. They added that what has happened is a correction to the situation after the soaring rise they have described as "absurd», over the past period, pointing out that "market whales and founders" are controlling prices now.

Anotheruser said: It is a natural step in the growth of Bitcoin, nothing grows toinfinity and just as it took 10 steps forward, it is normal to step back astep.

"Currency restriction"

Another sawthat the collapse of the price due to the obvious restrictions on the currencyand described what happened that the currency has become a "victim ofsuccess". He explained: The currency was not ready for collective tradingand fees of her transactions rose by up to 600% and became very expensive, he added:The concept of Bitcoin is great but technologically limited.

"Holiday season"

Other usersattributed the collapse to the holiday season, they explained: Everyone needscash for shopping in the holiday season so many sold the Bitcoin for cash, whichled to a drop in prices of Bitcoin.

Anexplanation that is likely to follow the prices of the currency of the Bitcoin sinceits launch in 2009 so far, where the scene of the decline in price in Decembermore than once was the most prominent December 2011.

So theproponents of this idea advised a user asking: do I sell or wait now? So waitand buy more Bitcoin, because prices will rise again after the holidays.

"Beginners Entry"

Other users saw that the collapse of the currency due to the entry of many beginner users market, after the crazy rise in prices and progress achieved during the past days and because they are beginners, they have a lot of concern and fear, which makes them sell their currencies quickly and reduce the price.

Bitcoin price currently

The current price has rebounded, reaching $ 14,800 in the Bettrix platform.