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Author Topic: Bitcoin Yearly Lows  (Read 338 times)
GreatArkansas (OP)
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September 27, 2020, 04:11:23 AM
Merited by kryptqnick (2), tyz (1), DdmrDdmr (1), tranthidung (1)
 #1

2010 – $0.01
2011 – $0.30
2012 – $4
2013 – $65
2014 – $260
2015 – $150
2016 – $350
2017 – $780
2018 – $3,122
2019 – $3,322
2020 – $3,850

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

-Source

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September 27, 2020, 05:31:16 AM
Last edit: September 27, 2020, 05:52:46 AM by tranthidung
 #2

I made a time-series plot for the Bitcoin Yearly lows. During the 11 observed-years (2020 is not yet completed), only the yearly low in 2015 at $150 is lower than the yearly low of previous year (2014 at $260). For the rest 10 years, Bitcoin always has higher yearly lows over years.


In percent of price changes between 2 consecutive years, we have data like these:
Code:
     +----------------------------------+
     | year   btcprice   percent_change |
     |----------------------------------|
  1. | 2010        .01                . |
  2. | 2011         .3            96.67 |
  3. | 2012          4             92.5 |
  4. | 2013         65            93.85 |
  5. | 2014        260               75 |
     |----------------------------------|
  6. | 2015        150           -73.33 |
  7. | 2016        350            57.14 |
  8. | 2017        780            55.13 |
  9. | 2018       3122            75.02 |
 10. | 2019       3322             6.02 |
     |----------------------------------|
 11. | 2020       3850            13.71 |
     +----------------------------------+

Code:
    variable |         N      mean        sd       p50       p25       p75       min       max
-------------+--------------------------------------------------------------------------------
percent_ch~e |      10.0      49.2      53.4      66.1      13.7      92.5     -73.3      96.7
----------------------------------------------------------------------------------------------

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September 27, 2020, 06:13:46 AM
 #3

Nobody can predict the price of bitcoin, but in my opinion, some days before halving and after halving, we have noticed bitcoin was more resistant to decrease below $8000. Possibly, it can happen in a way the price of bitcoin may not be less than $10000 throughout this year, I think the fall has already happened in March. There may not be any significant increase as well but I think we do not have to be panic about the price. Bitcoin price this year can not be lesser than that of March, $3850 which was even $3600 on some exchanges.

The first bitcoin price decline I experienced was the one of this year.

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September 27, 2020, 06:42:14 AM
 #4

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

-Source

I don't think so. Unless there's a greater dump that could surpass the largest recent dump this year, then I don't think that the coming months would even touch $5,000. Not to mention that this years lowest happened because of the sudden economic crisis because of corona virus. People are forced to sell their assets to reduce losses or buy necessities.
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September 27, 2020, 07:02:07 AM
 #5

From the nature of things I observed that bitcoin price regulation annually never be constant, and i find out that know one can predict the price of cryptocurrencies especially bitcoin, from my previous topic many people state it categorically that the stability of bitcoin is constant so I begin to wonder while needs of monitoring the price of bitcoin with  use of candlestick movement since people said no one can predict the price of Btc

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September 27, 2020, 07:13:25 AM
Last edit: September 27, 2020, 02:48:14 PM by Swordsoffreedom
 #6

If you want to know my opinion, then I will say Bitcoin is just unpredictable. But I don't think we will experience a new yearly low. Many people thought that the price of BTC has dropped so in this year due to coronavirus pandemic. I think it so. Now the prevalence of coronavirus pandemic is decreasing, And the bitcoin market is expanding very fast. A lot of new user are joining the bitcoin market. So, I think we won't see a new yearly low. I think the price of BTC will come down again in February-March next year.

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September 27, 2020, 07:45:32 AM
 #7

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
I will be optimistic here, I doubt that we are going to see a new yearly lows for 2020, that price of $3850 will be our lows. Unless we see another negative news just like the covid-19 scare that will bring the market to that price again.

Which yearly lows you already experienced? Mine was 2017 - 2018.
I think the big impact for us who have been in 2017-2018 was the bear market, specially after coming from a bull run and everything thinks that the price will hit $50k in 2018, but that didn't happen. And I guess another important thing seeing yearly lows or at least a bear market is that it is a period of accumulation.

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September 27, 2020, 08:12:18 AM
 #8

2010 – $0.01
2011 – $0.30
2012 – $4
2013 – $65
2014 – $260
2015 – $150
2016 – $350
2017 – $780
2018 – $3,122
2019 – $3,322
2020 – $3,850

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

-Source
From this yearly low bitcoin price analysis it very obvious that there is an increment in each year low in arithmetical progression meaning that there is the tendency for the price to pullback or retrace to form another low in 2021 which should be higher than the previous year low.
Price history repeat itself above all this analysis shows the gradual progression and growth of Bitcoin and this analysis could use to plot and predict the future price of Bitcoin.

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September 27, 2020, 08:52:35 AM
 #9

We still have 3 months left in 2020, and definitely A LOT can happen in that decently short time span. I personally wouldn't call $3850 the bottom just yet as bitcoin has historically surprised us a lot in it's past price movements(regardless if in the downside or upside).

Price history repeat itself above all this analysis shows the gradual progression and growth of Bitcoin and this analysis could use to plot and predict the future price of Bitcoin.
It definitely shows that, but the "Past performance is no guarantee of future results" phrase may(or may not) apply in bitcoin's case.

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September 27, 2020, 09:12:22 AM
 #10

Even the yearly low is moving upwards, good sign for Bitcoin . I do not expect is to go down anymore this year as per the historic timeline Bitcoin price tend to move upward from now on till December. I am expecting the price to go beyond 10k once again.

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September 27, 2020, 09:32:00 AM
 #11

2010 – $0.01
2011 – $0.30
2012 – $4
2013 – $65
2014 – $260
2015 – $150
2016 – $350
2017 – $780
2018 – $3,122
2019 – $3,322
2020 – $3,850

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

-Source
I've never thought of it, but it's some inspiring data because it indicates that the minimum trust in Bitcoin is growing year after year. It also shows how ridiculous the 'Bitcoin will go down to zero' predictions are because it seems highly unlikely that it will go down to even $3k unless something absolutely extraordinary happens. This indicates that Bitcoin is becoming more valued, and even when people panic, they're not ready to sell below $3k almost no matter what over the last three years. I'm also wondering if Bitcoin is getting more stable which could be calculated by the difference between the yearly low and the yearly high in percentage.

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September 27, 2020, 10:18:08 AM
 #12

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

Personally, I don't expect a new big drop to happen without something really negative happening - and that would only involve some big hack on the most famous crypto exchanges like Coinbase, Binance or Bitstamp. You should also be aware that Bitcoin has been shown to respond to changes in other markets, especially the stock market - so it should be borne in mind that any disturbance in these markets will be reflected in the price of BTC.

I personally experienced the lowest price during 2015, and I have to admit that there was a rather pessimistic mood at the time given that the price has dropped around x10 since the previous ATH.

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September 27, 2020, 10:58:29 AM
 #13

The March price low of 3.8K USD will not be reached by the end of the year,unless the pandemic gets out of control and new lockdowns block the economy of the western world(let's hope that this won't happen).
However,I'm pretty sure that the price will go below 10K by the end of the year,there are no sign of bullish movement and no excitement about future price pumping.The investors are still very careful and appetite for risk will remain low for the next one or two years.

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September 27, 2020, 11:10:04 AM
 #14

Even year 2020 still not yet over, do you think we will still experience a new yearly low? Lower than $3,850 which we experienced that around March 2020.
Which yearly lows you already experienced? Mine was 2017 - 2018.

No, definitely not.
Although I have been rather pessimistic about the long-term price development of Bitcoin in recent years, I believe that we will never fall below $4000 again. The economic and social consequences of the Corona pandemic will ensure that more and more money will be printed in the next few years, which will result that the lower limit of Bitcoin price is increasing steadily.
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September 27, 2020, 11:16:55 AM
 #15

Quite interesting how, besides 2015, with all the other years we've had higher lows. I can't be patient enough to find out what 2021 holds for Bitcoin. Smiley

The March price low of 3.8K USD will not be reached by the end of the year,unless the pandemic gets out of control and new lockdowns block the economy of the western world(let's hope that this won't happen).
Lockdowns and recessions should theoretically pump Bitcoin, not make it bearish. Through the pandemic the world has been taught to use cash as least as possible, and Bitcoin solves that: you don't need ATMs to cash out your Bitcoins, nobody controls it etc. Bitcoin has the most advantages especially during these times imo.
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September 27, 2020, 11:21:55 AM
 #16

I do not feel we may be down below 10k levels by year ending 2020. If you see last year’s low were in 3 k range and market has recovered from their though fall came but still we have seen it has reached 12k levels this years and means that bitcoin rises back quickly and those who hold it make money in the end.

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September 27, 2020, 11:25:25 AM
 #17

The March price low of 3.8K USD will not be reached by the end of the year,unless the pandemic gets out of control and new lockdowns block the economy of the western world(let's hope that this won't happen).
However,I'm pretty sure that the price will go below 10K by the end of the year,there are no sign of bullish movement and no excitement about future price pumping.The investors are still very careful and appetite for risk will remain low for the next one or two years.

Panic was responsible for the dump not the disease itself, now the panic cant be that high with several gatherings from election campaigns and riot. We have also achieve 62 days of price staying above $10000 this year. $10k seems to be the recent low and we are likely see another wave if the price stay above $10k till Oct ending.

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September 27, 2020, 11:30:00 AM
 #18

Of course, there is, because there are also changes in demand and supply yearly that have to affect the bitcoin price. It's quite interesting to see what will happen by next year if goes the same pattern on the lower price in the chart.

This is expected that has changed but we can't draw exactly what will happen in the future, but the stat above shows it has progress year by year and it proved that it is not yet late to accumulate bitcoin.

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September 27, 2020, 11:44:23 AM
Merited by Yamifoud (1)
 #19

Very consistent, bitcoin yearly low's has increase each year.
This should be the basis if we are accumulating at dip, we should not worry as many times bitcoin dump but it has never dump to a very low amount.
If we finish this year with $10,000 and we will see a big dump next year, I will certainly take if the price will dump $4,000 as that's very close to this year's low.

I believe 90% that we won't see bitcoin dump to $3,000+ this year.
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September 27, 2020, 11:57:35 AM
 #20

Nobody can predict the price of bitcoin, but in my opinion, some days before halving and after halving, we have noticed bitcoin was more resistant to decrease below $8000. Possibly, it can happen in a way the price of bitcoin may not be less than $10000 throughout this year, I think the fall has already happened in March. There may not be any significant increase as well but I think we do not have to be panic about the price. Bitcoin price this year can not be lesser than that of March, $3850 which was even $3600 on some exchanges.

The first bitcoin price decline I experienced was the one of this year.


We can't predict the price of bitcoin, but we can analysis the market and make a guess. If the guess is positive ,you should hold on your own risk. Because you are going to lose, if the guess is wrong one. If it's sound negative ,you should sell it as soon as possible. Further holding is based on your own risk.

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