April 11,2013 Bitcoin drops over 70% in two days as a panic sell-off ensues.
Satoshi Nakamoto is?
Well the mystery of satoshi will always be there. For me i think satoshi is an idealist. Rather than speculate lets try analyze a moment which was a tipping point for bitcoin." Wikileaks announced that they were accepting Bitcoin donations because they were kicked off of every other major payment platform. Wikileaks was all over the news for publishing confidential military documents and the first time many people ever heard of Bitcoin was when it was mentioned in association with Wikileaks".
Satoshi: "It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us." Simply put satoshi was creating something he truly believed would change the world. He believed in the bitcoin community. The quality of any good leader is the ability to delegate and by satoshi walking away from bitcoin actually helped the network grow the idea of peer to peer exchange of value.
Bitcoin fell from $228.94 to $68.09 in just six days after a selling frenzy began, leaving bitcoin back to where it had started for the month. What the hell was happening back then. "Anybody who was trading bitcoin back then and is interested with having a conversation please comment or dm me." Mt Gox was unable to keep up with the increased trade volume. Who, at the time, controlled over 70% of all Bitcoin trading. They had to halt trading completely to allow things to calm down. The exchange stated that the "astonishing number of new accounts registered in the recent few days...had a major impact on the overall system, which began to lag." People began to panic, and sell Bitcoin in large quantities, resulting in an upsurge in trading that eventually crashed the trade engine. It was a bit of a slap in the face for investors, but the previous month had witnessed such a tremendous rise that anyone who had purchased the currency the month before would still be in the black. Let me buy some more bitcoin just in honor of that.
The US government seizes Bitcoin for the first time, causing values to plummet by just under 7%. Following a raid on an alleged drug dealer, the United States officials stated on April 12 that they had made their first ever Bitcoin confiscation. A man suspected of selling drugs on Silk Road was apprehended by the Drug Enforcement Administration with 11.02 Bitcoins. The unofficial Pablo Escobar of bitcoin.
Prices fell to a low of $66.93 on July 5 after beginning the year at $13.24 and reaching highs of $235.29 in April. Mt. Gox, the world's most well-known Bitcoin exchange, has ceased paying out in US dollars, citing "increasing volume of transactions" as an excuse. Following the euphoria of Bitcoin's remarkable surge earlier this year, the media has gradually lost interest in the cryptocurrency. Furthermore, you could still not buy a lot of things with Bitcoin at this time, which is a bit of a bummer for a currency. Oh, but this young coin has a very different future ahead of it just wait. This is one of those times where you wish you had a time machine to go and buy the dips.
Remember Silk Road, the anonymous online black market that accepted Bitcoin as payment? The plug is finally pulled in October 2013, causing Bitcoin prices to plummet over 18 percent from $127.30 to $103.85, with a low of $85. Ulbricht was apprehended in the San Francisco Public Library after a two-year FBI sting (back in the day when books were a thing). The Dread Pirate was sentenced to life in jail after 144,000 Bitcoins were seized from his personal wallets and sold in a blind auction (won by famed crypto champion Tim Draper). However, he remains one of Bitcoin's most ardent supporters. Despite the controversy, Bitcoin rose by 13% the day after the arrest.
Nov20/2013 Welcome china to bitcoin( The fud country😅)
Wang Yi, China's foreign minister, has taken a constructive stance. At a conference, he declares that Chinese citizens are "free to participate in the Bitcoin market," promising to "take a long-term perspective" on the currency. This reassurance helped to ease people's worries considerably. Trading volumes increased at BTC China (at the time, the world's largest Bitcoin exchange), while the global Bitcoin price rose from just over $600 to over $1,000. China has always had a significant influence on Bitcoin, with Chinese traders eager to embrace its freedoms as a viable alternative to their country's tightly controlled currency.
In November, Bitcoin reaches $1,000, bringing an end to a long-term price surge that began with the first Bitcoin halving in 2012. But wait, there's more to the story. According to research from the University of Tulsa and Tel Aviv University, the 2013 rise was likely caused by two bots — each controlled by a single shadowy figure in the background. Over the course of a year, the bots bought and sold hundreds of thousands of Bitcoins to manipulate the market. On November 19, the price rose and fell by as much as 50% in a single day, demonstrating the extreme volatility of the month. It peaked at $1,163 on November 30 before beginning a longer-term downtrend that would persist for the next two years.
Dec 5/2013
China reverses its stance on Bitcoin. The Chinese central bank officially outlawed the use of the currency by financial institutions and payment companies, resulting in an unanticipated collapse. Although purchasing real items with virtual currency has been prohibited in China since 2009, internet companies such as Baidu (BIDU) and YeePay continued to take Bitcoin for a variety of services. All of that came to an end in 2013, when the central bank declared Bitcoin to be an asset rather than a currency. People were furious since this made it liable for a slew of additional taxes.
BTC China, the country's largest crypto exchange, stopped taking Yuan deposits the same month. Despite the fact that it was still legal for individuals to exchange the coin, without third-party payment providers, activity virtually ended instantly.Is China a major Bitcoin influencer? Well just after the ban bitcoin did its thing from $1,131.76 on December 4 to $693.30 on December 7, it lost over half its worth. For the next three years, it wouldn't close out at $1,000.
Written by neotrader
Satoshi Nakamoto is?
Well the mystery of satoshi will always be there. For me i think satoshi is an idealist. Rather than speculate lets try analyze a moment which was a tipping point for bitcoin." Wikileaks announced that they were accepting Bitcoin donations because they were kicked off of every other major payment platform. Wikileaks was all over the news for publishing confidential military documents and the first time many people ever heard of Bitcoin was when it was mentioned in association with Wikileaks".
Satoshi: "It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us." Simply put satoshi was creating something he truly believed would change the world. He believed in the bitcoin community. The quality of any good leader is the ability to delegate and by satoshi walking away from bitcoin actually helped the network grow the idea of peer to peer exchange of value.
Bitcoin fell from $228.94 to $68.09 in just six days after a selling frenzy began, leaving bitcoin back to where it had started for the month. What the hell was happening back then. "Anybody who was trading bitcoin back then and is interested with having a conversation please comment or dm me." Mt Gox was unable to keep up with the increased trade volume. Who, at the time, controlled over 70% of all Bitcoin trading. They had to halt trading completely to allow things to calm down. The exchange stated that the "astonishing number of new accounts registered in the recent few days...had a major impact on the overall system, which began to lag." People began to panic, and sell Bitcoin in large quantities, resulting in an upsurge in trading that eventually crashed the trade engine. It was a bit of a slap in the face for investors, but the previous month had witnessed such a tremendous rise that anyone who had purchased the currency the month before would still be in the black. Let me buy some more bitcoin just in honor of that.
The US government seizes Bitcoin for the first time, causing values to plummet by just under 7%. Following a raid on an alleged drug dealer, the United States officials stated on April 12 that they had made their first ever Bitcoin confiscation. A man suspected of selling drugs on Silk Road was apprehended by the Drug Enforcement Administration with 11.02 Bitcoins. The unofficial Pablo Escobar of bitcoin.
Prices fell to a low of $66.93 on July 5 after beginning the year at $13.24 and reaching highs of $235.29 in April. Mt. Gox, the world's most well-known Bitcoin exchange, has ceased paying out in US dollars, citing "increasing volume of transactions" as an excuse. Following the euphoria of Bitcoin's remarkable surge earlier this year, the media has gradually lost interest in the cryptocurrency. Furthermore, you could still not buy a lot of things with Bitcoin at this time, which is a bit of a bummer for a currency. Oh, but this young coin has a very different future ahead of it just wait. This is one of those times where you wish you had a time machine to go and buy the dips.
Remember Silk Road, the anonymous online black market that accepted Bitcoin as payment? The plug is finally pulled in October 2013, causing Bitcoin prices to plummet over 18 percent from $127.30 to $103.85, with a low of $85. Ulbricht was apprehended in the San Francisco Public Library after a two-year FBI sting (back in the day when books were a thing). The Dread Pirate was sentenced to life in jail after 144,000 Bitcoins were seized from his personal wallets and sold in a blind auction (won by famed crypto champion Tim Draper). However, he remains one of Bitcoin's most ardent supporters. Despite the controversy, Bitcoin rose by 13% the day after the arrest.
Nov20/2013 Welcome china to bitcoin( The fud country😅)
Wang Yi, China's foreign minister, has taken a constructive stance. At a conference, he declares that Chinese citizens are "free to participate in the Bitcoin market," promising to "take a long-term perspective" on the currency. This reassurance helped to ease people's worries considerably. Trading volumes increased at BTC China (at the time, the world's largest Bitcoin exchange), while the global Bitcoin price rose from just over $600 to over $1,000. China has always had a significant influence on Bitcoin, with Chinese traders eager to embrace its freedoms as a viable alternative to their country's tightly controlled currency.
In November, Bitcoin reaches $1,000, bringing an end to a long-term price surge that began with the first Bitcoin halving in 2012. But wait, there's more to the story. According to research from the University of Tulsa and Tel Aviv University, the 2013 rise was likely caused by two bots — each controlled by a single shadowy figure in the background. Over the course of a year, the bots bought and sold hundreds of thousands of Bitcoins to manipulate the market. On November 19, the price rose and fell by as much as 50% in a single day, demonstrating the extreme volatility of the month. It peaked at $1,163 on November 30 before beginning a longer-term downtrend that would persist for the next two years.
Dec 5/2013
China reverses its stance on Bitcoin. The Chinese central bank officially outlawed the use of the currency by financial institutions and payment companies, resulting in an unanticipated collapse. Although purchasing real items with virtual currency has been prohibited in China since 2009, internet companies such as Baidu (BIDU) and YeePay continued to take Bitcoin for a variety of services. All of that came to an end in 2013, when the central bank declared Bitcoin to be an asset rather than a currency. People were furious since this made it liable for a slew of additional taxes.
BTC China, the country's largest crypto exchange, stopped taking Yuan deposits the same month. Despite the fact that it was still legal for individuals to exchange the coin, without third-party payment providers, activity virtually ended instantly.Is China a major Bitcoin influencer? Well just after the ban bitcoin did its thing from $1,131.76 on December 4 to $693.30 on December 7, it lost over half its worth. For the next three years, it wouldn't close out at $1,000.
Written by neotrader
