Bitcoin Crashes! Bitcoin’s Dead! Bitcoin’s Over! Or Is It? A Brief History of Deaths

Bitcoin Drops More than 25 Percent

The price of bitcoin (BTC) has dropped more than 25 percent in four days, and it looks headed for even worse territory as of this writing. Veterans have braced for its eventuality. However, there are many newly onboarded, and they’re only used to the world’s most popular cryptocurrency dipping slightly in an effort to rise again ever-higher, quickly. For perspective, here’s a look at some of the more memorable crashes.

Bitcoin Drops More than 25 Percent

After an all-time high this week, the decentralized cryptocurrency took a quarter haircut, and is looming toward sub 13,000 USD if price drama continues. Already, bitcoin has beaten its recent price weakness of 10 December, and news isn’t helping. Mempool congestion, internal politics, higher transaction fees, another exchange bankrupt, and charges of insider trading among one of the more popular US platforms, might be forcing weaker hands to sell.
Early days, bitcoiners’ expectations matched what was achieved, and in two years bitcoin achieved parity with the US dollar, a milestone many believed at the time was remarkable. And then it broke out, climbing to 19.00 USD by Summer of the same year, 2011. Ill-fated Japanese exchange Mt. Gox’s first recorded implosion happened, and the price buckled some three dollars literal minutes after news hit. It wasn’t over. For one week in June 2011, BTC price shook a nasty 68 percent after a high of 32.00 USD, sending it into a bearish run where it scraped to a paltry 2.00 USD by November. That 30 dollar range would not return for more than a year.