Two Years Ago, Bitcoin Was Over $19,000 — What Happened?

[barabarian1]

everything is possible in the bitcoin market. it is very possible for bitcoin to be able to reach the value of $ 20000 like 2017 but the current condition of the crypto market from two years ago is different. so I also don't expect too much about the rise of bitcoin. bitcoin can reach the price of $ 14,000 i'm already happy because i bought bitcoin at a price of $ 7000. I also have to be mentally prepared when in 2020 after halving bitcoin doesn't pump as high as we expect.

[arwin100]

everything is possible in the bitcoin market. it is very possible for bitcoin to be able to reach the value of $ 20000 like 2017 but the current condition of the crypto market from two years ago is different. so I also don't expect too much about the rise of bitcoin. bitcoin can reach the price of $ 14,000 i'm already happy because i bought bitcoin at a price of $ 7000. I also have to be mentally prepared when in 2020 after halving bitcoin doesn't pump as high as we expect.

Although there's a risk that bitcoin will not go the same on what happen last 2 years ago but still we still have chances to gain since we all know halving will give a great effect on bitcoins and whether $14,000 or not still we are lucky since for sure we will gain even a low percentage if we bought today but hopefully we can reach again the $20000 or maybe it will surpass.

[drachman]

Well back then it was hype and FOMO. Not all that bought in knew what they're dealing with. Just the hope of making big easy money. Now, after what happened in 2018, people see bitcoin differently. I think it'll be hard to get the same people to jump into another FOMO like that. That's why unless whales start a drastic pump, I don't think we'll have the same movement anytime soon.

So you mean that bitcoin halving will have no impact on the start of the next bull run. Also even if those people do not rebuy, don't you think we have new investments both individual and institutional which is another reason why bitcoin should be moving up always. Back in time 2017, there were very less awareness of bitcoins as it is now, so more people should jump in the train this time around.

People only concentrate themselves on the aspects that they think will bring greater adoption in the future for bitcoin, but just as there is a lot of awareness about what bitcoin achieved back in the day there is also a great degree of awareness of what happened after 2017, the great crash that followed that historical bull run is a memory that anyone that was in the market back in those days will never forget and it is one of the biggest obstacles for the next bull run.

[topbitcoin]

everything is possible in the bitcoin market. it is very possible for bitcoin to be able to reach the value of $ 20000 like 2017 but the current condition of the crypto market from two years ago is different. so I also don't expect too much about the rise of bitcoin. bitcoin can reach the price of $ 14,000 i'm already happy because i bought bitcoin at a price of $ 7000. I also have to be mentally prepared when in 2020 after halving bitcoin doesn't pump as high as we expect.

Although there's a risk that bitcoin will not go the same on what happen last 2 years ago but still we still have chances to gain since we all know halving will give a great effect on bitcoins and whether $14,000 or not still we are lucky since for sure we will gain even a low percentage if we bought today but hopefully we can reach again the $20000 or maybe it will surpass.

Make expectation is good actually, but keep aware for what can be happen is needed. Because until now, although i believe market will be good because halving, something is actually make me afraid, because bitcoin not hyped like in past when people just see about it and now a lot of people already know about bitcoin so maybe some of them who already know maybe already bought it and wait to sell their coins.

[The Sceptical Chymist]

We wish that Bitcoin would have another round of big bull run like what happened a couple of years ago.

I might be in the minority, but I'm hoping we don't see another 2017 again, though I'm pretty sure we will eventually.  What happened in the lead up to December of that year was pure crypto insanity, and if it wasn't a full-fledged bubble, it was damn close.  And look at where bitcoin and the entire altcoin market are right now.  They're both still trying to recover from the madness that was 2017.  Bubbles aren't healthy, but they're like drugs.  They feel great but you know the high is going to end at some point and they're not good overall.

I'd still love it if bitcoin got back to $20k, but only if it got there s-l-o-w-l-y.  Slow and steady rather than in a hyperbolic manner that's characteristic of something that can't be sustained.

[romero121]

We wish that Bitcoin would have another round of big bull run like what happened a couple of years ago.

I might be in the minority, but I'm hoping we don't see another 2017 again, though I'm pretty sure we will eventually.  What happened in the lead up to December of that year was pure crypto insanity, and if it wasn't a full-fledged bubble, it was damn close.  And look at where bitcoin and the entire altcoin market are right now.  They're both still trying to recover from the madness that was 2017.  Bubbles aren't healthy, but they're like drugs.  They feel great but you know the high is going to end at some point and they're not good overall.

I'd still love it if bitcoin got back to $20k, but only if it got there s-l-o-w-l-y.  Slow and steady rather than in a hyperbolic manner that's characteristic of something that can't be sustained.

By that time the growth isn't believed to be a bubble, and people continued to invest more and more. This made the price of bitcoin grow gradually reaching $20k. This made the people continue to expect for such a growth, someday it'll be reached but that's not so near. Right now halving is the major talk among the bitcoiners. Till the past halving the growth expectancy was limited, but once after the 2017 rise expectation has grown much high. Everyone love to experience the $20k once again, because very few made use of the market pump while majority missed the profiting.

[daarul50]

The market has matured and therefore the market has getting stronger.
2017 may not happen again but we can expect that the market will grow steady if that's what we believe that the market has matured.

However, based on my observation, the market seems still easily get manipulated as FOMO and FUD are still here.

Like what happen this year, we all witness an increase of bitcoin price for 30% in within 24 hours and for me, it's not a good sign of market maturity.

yes people continue questioning and doubting the future of bitcoin especially when it comes to questioning the price movement these poeple always in hurry making conclusions, they think it was a real bubble when the price skyrocket from $500 to $20000.
and then suddenly make a decision to sell the coin they have on a discounted price like we see now.

guess they will confused and even more restless after they realized they have sold it all but want to comeback to the game.

that moment people have no idea where they have to place the buy order position as the market starts moving.
this uncertainity must be known by anybody who involved in cryptocurrency market.
i see there is a lot of people thinking that bitcoin is actually a bubble , i don't give a fuck with them anyway lol.

[error08]

yes people continue questioning and doubting the future of bitcoin especially when it comes to questioning the price movement these poeple always in hurry making conclusions, they think it was a real bubble when the price skyrocket from $500 to $20000.
and then suddenly make a decision to sell the coin they have on a discounted price like we see now.

That will happen repeatedly as most people see bitcoin as a trading object to obtain profit until the point bitcoin spread widely among people all over the world and fewer whales rule the market.
Anything that pumps significantly within a short period will plummet in a hard way like in 2017.

[wxxyrqa]

When you discuss only one side of the situation, when the price skyrocketed to $ 20,000 in 2016 and 2017, you forget the fact that many cryptocurrency users lost a lot of money due to the fact that they invested their money in Bitcoin at the wrong time.  Almost the majority of new investors in 2017 took loans and sold real estate in order to win the jackpot thanks to investments in bitcoin, but given the current prices, many users lost almost everything.  In addition, it can be safely assumed that when the price of Bitcoin rose to $ 13,000 in the summer of 2019, many sold their bitcoins only in order to return the money spent or pay their debts.  Based on the current situation, we will have to wait a long time until the cryptocurrency market becomes, will attract new investments and cryptocurrency prices will go up.

[jhonjhon]

everything is possible in the bitcoin market. it is very possible for bitcoin to be able to reach the value of $ 20000 like 2017 but the current condition of the crypto market from two years ago is different. so I also don't expect too much about the rise of bitcoin. bitcoin can reach the price of $ 14,000 i'm already happy because i bought bitcoin at a price of $ 7000. I also have to be mentally prepared when in 2020 after halving bitcoin doesn't pump as high as we expect.

Bitcoin can give surprises it can go as high as $20,000 or more but I don't think it will happen after halving in 2020 considering the current market situation. Change is the constant thing in the world which means that everything changes and it applies in bitcoin history, as years pass the market situation changes as well that is why basing your prediction a few years back won't give much good knowing that two years ago and years after will be the same. Bitcoin is a very good investment, no questions but we also have to bear in mind that it is not always good, we must be mentally ready for whatever storm or change it will provide in the future.

[Kasabus]

we must be mentally ready for whatever storm or change it will provide in the future.

For 2 years already of bear market if we still hold and survive until now, that simply means we are ready and we understand that holding is still the most effective method. We don't know what lies ahead but we believers are always positive to see some good recovery and we like to see it happening soon.

[adaseb]

When you discuss only one side of the situation, when the price skyrocketed to $ 20,000 in 2016 and 2017, you forget the fact that many cryptocurrency users lost a lot of money due to the fact that they invested their money in Bitcoin at the wrong time.  Almost the majority of new investors in 2017 took loans and sold real estate in order to win the jackpot thanks to investments in bitcoin, but given the current prices, many users lost almost everything.  In addition, it can be safely assumed that when the price of Bitcoin rose to $ 13,000 in the summer of 2019, many sold their bitcoins only in order to return the money spent or pay their debts.  Based on the current situation, we will have to wait a long time until the cryptocurrency market becomes, will attract new investments and cryptocurrency prices will go up.

I think that many people who invested in 2017 either made a little profit or some  sold for break-even I don't think large amounts ended up losing money. Pull up a weekly chart of BTCUSD and you will see that the low of $3100 which was made in Dec 2018 was traded during Aug 2017 and many of the people who got involved with BTC were in the 2nd quarter of 2017. I think shortly after the rejected ETF it drew alot of attention and people basically got in anywhere between $1200-$3000.

Sure the price went to $20K however it was only above $10K for like 3 weeks before it topped out. So there is a good chance that too many people didn't buy at those prices unless they bought the pullbacks back in 2018.

So the people who weren't greedy and sold probably made a small profit or they just put their sell stop at break-even and got out when the markets broke $6000 back in November 2018 and stopped out many people out at break-even.

The people who lost alot were the ones who invested in altcoins, ICO scams or leveraged trading. However BTC seems like the most stable investment out of all of those.

[cutesgirl]

Two years ago many people trusted bitcoin become most popular digital currency payment and will be best investment assets on the future, just take one month later bitcoin price down until today where from bitcoin above $16k and now bitcoin only half from last two years price with $7k, many investor loss much money because they have really believe bitcoin will have higher price later.

[Rasa nanas]

at that time I had 0.5 BTC from several coins that I got from the bounty, I was very grateful that at that time I knew about bitcoin and I immediately sold all the bitcoins that I had at that time. I am happy to be able to participate in enjoying that beautiful moment, I hope that in the near future the moment will repeat itself 

[Sahyadri]

That ATH of $19k was highly manipulated. The price went up because of the tether manipulation by Bitfinex. That wasn't the organic growth and a correction was more than expected. Price corrected throughout the 2018 and now it's recovering slowly and steadily with small correction here and there.
So, what happened?
Price went up ridiculously without any underlying reason and then corrected and now recovering organically.

[drachman]

We wish that Bitcoin would have another round of big bull run like what happened a couple of years ago.

I might be in the minority, but I'm hoping we don't see another 2017 again, though I'm pretty sure we will eventually.  What happened in the lead up to December of that year was pure crypto insanity, and if it wasn't a full-fledged bubble, it was damn close.  And look at where bitcoin and the entire altcoin market are right now.  They're both still trying to recover from the madness that was 2017.  Bubbles aren't healthy, but they're like drugs.  They feel great but you know the high is going to end at some point and they're not good overall.

I'd still love it if bitcoin got back to $20k, but only if it got there s-l-o-w-l-y.  Slow and steady rather than in a hyperbolic manner that's characteristic of something that can't be sustained.

Unfortunately 20k has become a psychological barrier and once bitcoin surpasses that level we are going to see massive hype and all kind of wild speculations will become part of this market again, I think the same as you I would prefer a slow and steady growth but bitcoin is still too young and assets like that have a tendency to be very volatile, and since I cannot avoid the volatility that will come when bitcoin surpasses 20k I might as well take advantage of it.

[matchi2011]

at that time I had 0.5 BTC from several coins that I got from the bounty, I was very grateful that at that time I knew about bitcoin and I immediately sold all the bitcoins that I had at that time. I am happy to be able to participate in enjoying that beautiful moment, I hope that in the near future the moment will repeat itself  

Wow that's a huge amount of money coming from bounties it's worthed investing your time and skills with such value of rewards, nowadays there's no longer project who can bring that kind of amount, most of the projects around are only for fooling people and scammed investors which would not pay any cents.

[Distinctin]

at that time I had 0.5 BTC from several coins that I got from the bounty, I was very grateful that at that time I knew about bitcoin and I immediately sold all the bitcoins that I had at that time. I am happy to be able to participate in enjoying that beautiful moment, I hope that in the near future the moment will repeat itself  

Wow that's a huge amount of money coming from bounties it's worthed investing your time and skills with such value of rewards, nowadays there's no longer project who can bring that kind of amount, most of the projects around are only for fooling people and scammed investors which would not pay any cents.

He was lucky by then and earned such a huge amount from the bounty.
And everything becomes possible when the 2017 bullish market will turn back but I really surprise to have it again.
We can't imagine how hypes play that time and the entire market is skyrocketing but the difficult part after the event is that we are also suffering big losses because scam and fraud came in. Now, thinking for another $20k is just necessary for me, only I ask is that the use of crypto will be realized as a currency. And that makes a way to increase the market demand for Bitcoin and the price will move as well.

[Aying]

Two years ago many people trusted bitcoin become most popular digital currency payment and will be best investment assets on the future, just take one month later bitcoin price down until today where from bitcoin above $16k and now bitcoin only half from last two years price with $7k, many investor loss much money because they have really believe bitcoin will have higher price later.

The time is passing by, bitcoin price in that huge rate will surely not last long because of many struggles will come against bitcoin. even it have many believers and investors it won't take too long to hold that kind of huge price. even it is manipulated, everyone will take a chance to dump their huge amount of bitcoin to have a huge profit. that's bitcoin works and it is hard to take back 2017 price or it is possible in time will come that everyone is going to hype again.

[sockpuppet1911]

He probably forget three years ago, bitcoin was by far less than $100, they’re just trying to cherry picking on the price, but two and three years does it make much difference? Do you brother with what you did five years ago? I could barely remember three years ago and every moment.

Bitcoin wasn't $100 or under it three years ago. But yeah, it was cheap, and every time i see bitcoin over 1k, it's a win for me and it feels we are in bullish market related to that.