Quote from: isabellajones on May 30, 2024, 01:08:06 AM

Since the launch of a bitcoin exchange-traded fund earlier this year, bitcoin has recovered and even surpassed its all-time highs set during the 2021 bull run. But for weeks, it looked like the largest cryptocurrency was trading sideways at best.

Bitcoin will not always be in an uptrend. Like any asset, its value can fluctuate significantly. Bitcoin's price has been known to be highly volatile, and has experienced several significant downturns in its history.

2011: Bitcoin's price did drop from $32 to $2.

2013: Bitcoin's price did drop from $266 to $50, and then rose to around $100. It then fell steadily to $70 over the course of two weeks starting late June 2013, later rising to $1,242 by the end of the year.

2018: Bitcoin's price did drop from $17,000 to $3,200 ², which is an 81% decline.

2022: Bitcoin's price dropped to a low of $18,000 in June, after starting the year at around $40,000. However, it did not reach $48,000 at any point in 2022.

Recently, Bitcoin has been trading sideways, with prices fluctuating between $20,000 and $30,000.
Source:(https://en.m.wikipedia.org/wiki/Economics_of_bitcoin)

While Bitcoin has shown remarkable growth over the years, its price can be affected by various factors, such as:

- Regulatory changes
- Global economic conditions
- Adoption rates
- Competition from other cryptocurrencies
- Market sentiment

As a result, Bitcoin's price can drop as well as rise, and it's essential to be aware of the potential risks and rewards before investing.