With more than 250% growth in 2020, there is no denying that Bitcoin experienced an outstanding year. However, the best is yet to come!
Bitcoin in 2020 The year started with a strong uptrend of around 45% in 45 days. It is important to note that this followed a 50% correction from $14,000 to $7,000 and then a short consolidation period.
During March’s economic downturn in response to Covid-19, BTC experienced a severe crash along with many other markets such as the S&P 500 and gold. The coin fell to its lowest level of $3,800 this year. Then, in just two months, Bitcoin recovered all of its lost ground, reaching $10,000 by May. The price stayed stable between May and August, and it was the altcoins that grew significantly, with many DeFi tokens gaining more than 1,000% in value!
BTC then made new yearly highs at $12,000 before retesting the $10,000 support. Starting in October, with the help of strong institutional interest, Bitcoin experienced a tremendous uptrend with a speed and momentum not seen since early 2017. On November 5th, BTC broke above $14,000, proving that this is the strongest uptrend since 2017. On December 16th, the price made a new all-time high for the first time in 3 years. BTC pushed up an additional 43%, reaching all the way up to $28,000!
Bitcoin in 2021 Although 2020 was a great year for the world of crypto, with a tremendous increase in Bitcoin’s price and a keener interest from institutional investors, many predict that “2021 will be the year of crypto”. Bitcoin reached its zenith in December 2013 when it broke above $1,000 for the first time. After a severe correction, the coin gained significant ground in 2016, making new all-time highs and reaching its zenith again in December 2017, around four years later. Then following a severe correction, Bitcoin rose significantly in 2020, making new all-time highs. If history is to repeat itself (which it often does), then we will see Bitcoin peak out in December 2021!