Sep 12, · Bitcoin’s resilience underlines its brand strength and how key the bitcoin franchise is to the whole market. Explore. , pm EDT on ethereum while crypto is in a bear market; it Author: Clem Chambers. The world’s largest digital currency Bitcoin is showing a % rise in its price since the year On 15th Dec , the price value of the coin came down at $ when the bear market has bottomed out. From that time onward, Bitcoin is up %. Bitcoin price stopped at weekly resistance from New Year's Day | Source: BTCUSD on crypmoney.de There, it ran headfirst into resistance set on the very first day of On January 1, , a weekly close at $16, started the bear market. The cryptocurrency never against set a higher high, until just weeks ago.
Bear market bitcoin 2018Bitcoin Spike Above $16K Rejected At First Weekly Bear Market Resistance From
That year, volume was still low and the dozens of now popular trading exchanges like Coinbase didn't exist yet. Tokyo-based bitcoin exchange Mt. Gox was handling roughly 70 percent of all cryptocurrency transactions in the world. The site experienced its first of multiple hacks in , and its eventual downfall coincided with what would be bitcoin's next bear market in Two years later, most bitcoin trading was still done on the soon-to-be defunct Mt.
Gox bitcoin exchange. During the two years leading up to , Mt. Gox was effectively frozen out of the U. It stopped trading, closed its website and filed for bankruptcy protection. The cryptocurrency saw an 84 percent rout between those two years. Measured in dollars, this year's damage has been much more significant. Coinbase's CEO said this summer that at the height of that boom, the exchange was opening up 50, new accounts a day, for mostly retail investors. The all-time high also came ahead of the availability of bitcoin futures.