- Bitcoin has been declared dead at least 463 times.
- Price swings in bitcoin are mainly driven by its own halving cycles as well as macroeconomic events.
- Since 2009, bitcoin has gone from $0 to $68,000 in 13 years.
Bitcoin is an innovative monetary system created in 2008 to challenge the existing system of centralized, credit-based money issued by bureaucrats and unstable banks. It first started with no market price or any rounds of investment from big venture capital firms, but it soon gained traction when it began to be traded for goods and services. Since then, it has experienced multiple appreciations of 1,000% in value, only to later drop by as much as 80% or even 90%. Despite its volatility and numerous declarations of death, bitcoin has proven resilient and continued to set new highs every time.
The following table shows the fluctuation in the price of bitcoin since 2010:
Year | Start | High | Low | EOY % Performance
2010 |$ 0.003|$0.40 |$ 0.00| 9,900%
2011 |$ 0.30| $32 |$ 0.29| 1,467%
2012 |$ 4.70| $16 |$ 4 | 183%
2013 |$ 13.30| $1,163|$ 13 | 5953%
2014 |$ 805 | $936