Bitcoin is a popular cryptocurrency that experienced great volatility between 2017 and 2023 and was affected by various events. Here are the main events and annual declines of Bitcoin during this period:
2017:
1. Bitcoin had a very strong start to 2017 and its price started to increase rapidly.
2. In May 2017, the Bitcoin price surpassed $2,000 for the first time.
3. In June 2017, the Bitcoin price reached $3,000.
4. In August 2017, Bitcoin underwent a fork with an upgrade called Segregated Witness (SegWit), resulting in a new cryptocurrency called Bitcoin Cash.
5. In November 2017, the Bitcoin price broke a historical record and reached $10,000.
6. In December 2017, the price of Bitcoin increased tremendously, reaching almost $20,000.
2018:
1. In January 2018, the price of Bitcoin began to decline rapidly and fell below $6,000.
2. In February 2018, Japan-based crypto exchange Mt. Gox was declared bankrupt, this event caused a huge shake-up in the Bitcoin market.
3. In March 2018, the Bitcoin price dropped below $4,000.
4. In May 2018, the Bitcoin price fell below $10,000.
5. In June 2018, the price of Bitcoin fell below $6,000 and cryptocurrency markets generally declined during this period.
2019:
1. In January 2019, the Bitcoin price dropped to around $3,000.
2. In June 2019, Bitcoin price rose above $10,000.
3. In July 2019, Bitcoin price reached $12,000.
4. In October 2019, Bitcoin price dropped below $7,000.
2020:
1. In March 2020, the global COVID-19 pandemic affected the world economy, and the Bitcoin price also dropped sharply during this period. The price dropped below $4,000.
2. In May 2020, Bitcoin's halving event took place and the block reward dropped from 12.5 BTC to 6.25 BTC.
3. In July 2020, Bitcoin price rose above $10,000.
2020
1. In December 2020, the Bitcoin price reached $20,000 again and broke the all-time record.
2021:
1. In January 2021, Bitcoin price continued to rise rapidly and reached $40,000.
2. In February 2021, the Tesla company announced that it purchased $1.5 billion worth of Bitcoin, which increased interest in Bitcoin.
3. In March 2021, Bitcoin price exceeded $60,000.
4. In April 2021, Coinbase exchange held its IPO and increased the adoption of Bitcoin.
5. In May 2021, the Chinese government took steps to restrict cryptocurrency transactions and mining, which caused the Bitcoin price to drop.
6. In May 2021, the Bitcoin price dropped rapidly, dropping below $30,000.
7. In July 2021, El Salvador became the first country to accept Bitcoin as legal currency.
2022:
1. In March 2022, Bitcoin price exceeded $50,000.
2. In April 2022, Bitcoin price reached $70,000.
3. In May 2022, Bitcoin price dropped to $30,000.
4. In July 2022, Bitcoin price rose above $40,000.