A History of Bitcoin Crashes | Cointelegraph

When the crypto market crashed hard last week, naysayers once again predicted the end of Bitcoin., But we are used to this.. In its 10-year lifespan. Bitcoin has been declared dead, a total of 326 times, Bitcoin not only survived, but also came back stronger.

. Now let’s take a look at Bitcoin’s, worst moments and resurrections over the past few years.. After reaching a new all-time high, the first “Bitcoin bubble” burst due to over-speculation and the hack of now-defunct exchange.

Mt. Gox. Bitcoin dropped from almost $ 30 to a 2 $ bottom on October 20, 2011.. In April 2013, a banking crisis in Cyprus triggered the price of Bitcoin to rally. Mt Gox overwhelmed by high transaction volumes, suspended trading, causing Bitcoin to fall sharply in the following hours.

Increased investment from China in Bitcoin made the prices skyrocket in the fall of 2013. Concerned By Bitcoin’s increasing popularity, the Chinese Central Bank began to clamp down on crypto by banning domestic financial institutions from offering crypto services.

. As a result, Bitcoin lost 60 % of its value in under two weeks., Together with the Mt Gox bankruptcy. In February 2014, the Chinese ban marked the beginning of a steady decline reaching a bottom of $ 209 in January 2015.

. The period of relative stability that followed paved the way for a massive crypto rally in late 2016. In the last quarter of Bitcoin’s most bullish year, China continued its crackdown by banning exchanges and ICOs.

. The ban deeply impacted the market, but that didn’t stop bitcoin.. After a final surge, bringing prices to an all-time high of $ 20,000 in December 2017, Bitcoin crashed again losing almost a third of its value within just one week.

. That was the start of a very long winter for Bitcoin and it’s, still pretty cold outside.. So hodlers don’t lose hope. Remember. The night is always darkest just before dawn. [ Music ], when the crypto market crashed hard last week, naysayers once again predicted the end of Bitcoin, but we are used to this.

In its 10-year lifespan, Bitcoin has been declared dead. A total of three hundred and twenty six times Bitcoin not only survived but came back stronger. Now let's, take a look at bitcoins, worst moments and resurrections over the past few years.

After reaching a new all-time high, the first Bitcoin bubble burst due to over speculation and the hack of now-defunct Exchange. Mount docs Bitcoin dropped from almost $ 30 to a $ 2 bottom on October 20th, 2011.

In April 2013, a banking crisis in Cyprus triggered the price of bitcoins rally. Mount docs overwhelmed by high transaction volumes, suspended trading, causing Bitcoin to fall sharply in the following hours.

Increased investment from China in Bitcoin made the prices skyrocket in the fall of 2013 concerned by bitcoins increasing popularity. The Chinese central bank began to clamp down on crypto by banning domestic financial institutions from offering crypto services.

As a result, Bitcoin lost 60 percent of its value. In under two weeks, together with the mountain ox bankruptcy, in February 2014, the Chinese band marked the beginning of a steady decline reaching a bottom of two hundred and nine dollars in January 2015.

The period of relative stability that followed paved the way for a massive crypto rally in late 2016 in the last quarter of bitcoins most bullish year, China continued its crackdown by banning exchanges and icos.

The ban deeply impacted the market, but that didn't. Stop Bitcoin after a final surge bringing prices to an all-time high of 20,000 dollars in December 2017, Bitcoin crashed again losing almost a third of its value within just one week.

That was the start of a very long winter for Bitcoin and it's. Still pretty cold outside so HUD lers don't lose hope. Remember. The night is always darkest. Just before the dawn coin. Telegraph like subscribe and huddle [ Music, ]