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It is the end of the year and the holiday season is upon us, with Christmas being right around the corner gifts aren’t the only thing you might want to buy, cryptocurrencies such as Bitcoin may also be on your Wishlist. So, it is finally the time to see what Bitcoin (BTC) prices have been like in the past years and could happen in this year’s holiday season.
Introduction
It is the end of the year and the holiday season is upon us, with Christmas being right around the corner gifts aren’t the only thing you might want to buy, cryptocurrencies such as Bitcoin may also be on your Wishlist. So, it is finally the time to see what Bitcoin (BTC) prices have been like in the past years and could happen in this year’s holiday season.
Bitcoin’s white paper was first published in 2009 but at that time, Bitcoin didn’t have a price, it wasn’t until July 2010 when Bitcoin got its first price at around $0.08 per each coin. By December 2010 the price of Bitcoin had raised to $0.5 which is a lot of growth in its price in a few months. Check live rate, visit bitcoin price page.
On December 25th 2011 the price of Bitcoin rose up to $4, the following year (2012) on the same day it was $13 which again is a lot but still predictable and too out of this world. However, this all changed in 2013, since more and more people were drawn to this blockchain technology and many public figures such as actor Ashton Kutcher and Microsoft founder and CEO Bill Gates publicly talked about Bitcoin. All this led to the price of Bitcoin reaching $682 on December 25th 2013.
Now in February of the year 2014, the largest Bitcoin exchange Mt. Gox files for bankruptcy, losing half a billion dollars’ worth of customer money leading to many lawsuits being filed against it which again led to the crash of Bitcoin price and so by December 2014 the price of Bitcoin had dropped down to $346.
In October 2015 the EU announces that its citizens are allowed to use and trade Bitcoin and that Bitcoin will be treated as a currency that means Bitcoin traders won’t need to be paying any taxes. And so, by December 2015 the price of BTC rose up to around $435.
Bitcoin price. Source: trading view
The major event in 2016 for Bitcoin was its price rising to $963 by the end of December this was a 123.8% growth for the cryptocurrency for the year.
Bitcoin price in December 2017 reached its all-time high of $20,000, but as the days approached Christmas day, it started declining a bit and wasn’t able to get back up there at $20K. Although it was still at a high price of around $16K.
In 2018 Bitcoin went through a decline and was mostly red. In the holiday season it had dropped even below $4,000 only rising a little bit on Christmas day just before falling down again.
From the beginning of the month of December Bitcoin price was in a bit of a slump, being traded around $7,500, however two or three days leading up to Christmas 2019 show that it has a slight rise and reaches $7,600.
Bitcoin Price Christmas 2020 was a special one, with the bulls pushing Bitcoin price to new heights and levels, leading to a 243.49% increase from 2019. Bitcoin broke a new level of resistance in the second half of the month of December reaching $20K and surpassing this level and continuing to grow and also pass the $28K mark by the end of the year.
2021 was another great year for Bitcoin having had a 105.3% increase by the end of the year, reaching an all-time high of $50,720 by December 25th 2021.
After having three great Christmases in a row, December 25th 2022 doesn’t look very promising. After multiple technical analysis indicators and the situation of the crypto market right now, it seems that the price of Bitcoin can even drop lower than the $16,800 it is at the time of writing this article, and maybe even go as low as $12,000. Learn more about bitcoin analysis.
In conclusion as you can see there has been a kind of pattern with the Bitcoin price on Christmas every year, where there is a rise for a few years and then one year the price drops for example from 2010 to 2013 the price of Bitcoin rose from $0.5 to $682 and then in 2014 Bitcoin price drops to $346. This pattern repeats from 2014-2017 and drops in 2018. And now after three years of growth it finally looks like Bitcoin price won’t be reaching new heights.
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