BETA GLOBAL FINANCE: A Retrospective of Bull Markets in the Cryptocurrency Market
Let's take a look back at several past bull markets:
First Bull Market:
Timeframe: September 2010 - June 2011, lasting for 9 months.
Bitcoin rose from $0.06 to $36 and then quickly dropped to $2.5, a 93% decline, but never fell below $2. This phase saw speculation mainly among a few Bitcoin enthusiasts.
Second Bull Market:
Timeframe: October 2011 - April 2013, lasting for 7 months, with Bitcoin halving in November 28, 2012.
Bitcoin surged from $2 to $260, a 130x increase. However, in less than a week, Bitcoin dropped to $50, an 80% decrease. The primary players during this phase were individual investors in East Asia. Historically, a bull market often follows Bitcoin halving by about a year.
Third Bull Market:
Timeframe: April 2013 - December 2013, lasting for 8 months.
Bitcoin started its rise from $50 and reached $1,000 in December 2013, a 23x increase. It then declined to $150 in January 2015, an 87% drop. Despite the drop, Bitcoin remained above $150. Similar to the second bull market, individual investors in East Asia were prominent during this phase.
Fourth Bull Market:
Timeframe: January 2016 - December 2019, lasting for 2 years, with Bitcoin halving in July 2016.
Bitcoin began at $400 in January 2016, slowly climbing to $20,000 by December 2019, a 50x increase. In 2019, Bitcoin rose from $1,000 in January to $5,000 in 10 months. It then surged from $7,000 to $20,000 in just 20 days, showcasing the brief nature of bull markets. Once again, individual investors in East Asia were major players during this period.
Fifth Bull Market:
May 12, 2020, marked Bitcoin's third halving, with the price at over $6,900. By December 2020, Bitcoin broke historical highs and surpassed $60,000 within half a year, initiating the strongest bull market in history. During the Covid period, central banks globally increased fiat currency circulation, with various institutions continually investing in Bitcoin. This phase saw institutional dominance in the cryptocurrency market, shifting from individual investors to institutions.
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