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History of Bitcoin Crashes and bear Market


Over the course of more than three years, Bitcoin's price has historically fallen below previous highs, with the most recent peak occurring just seven months ago. immediate experience is one of the most authentic platforms that you can use for gaining information about BTC trading.

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Bitcoin experienced one of its most fierce crashes ever in 2022, with the BTC cost plunging underneath $20,000 in June subsequent to cresting at $68,000 in 2021.

As Bitcoin's monthly losses increased to 40% in June 2022, it experienced its worst month since September 2011. Additionally, the cryptocurrency experienced its largest quarterly loss in eleven years. However, the current sell-off in the market does not limit Bitcoin crashes and bear markets to 2022. Since the first Bitcoin block, also known as the genesis block, was mined in January 2009, Bitcoin has, in fact, experienced its fair share of crypto winters.Coin telegraph has identified five of the most significant price declines in the history of the pioneering cryptocurrency as we zoom out on the Bitcoin price chart.

Bitcoin Crashes From 32$ to 0.01$ in 2011

The price of Bitcoin reached $32 on June 8, 2011, after breaking its first significant psychological mark of $1 at the end of April 2011. However, the happiness was short-lived as Bitcoin's value plummeted to just $0.01 over the course of a few days.


The sharp auction was generally ascribed to security issues at the now-old Mt. Gox, a Japanese crypto trade that exchanged most of Bitcoin at that point. Due to a security breach on the exchange's platform, 850,000 BTC were stolen, raising major concerns about the safety of Bitcoin stored on exchanges.


The Bitcoin flash crash in June 2011 became a significant part of Bitcoin history after BTC lost approximately 99 percent of its value in a few days. The event started a long time before the BTC price reached the previous high of $32, and it wasn't until February 2013 that it reached new highs.


When compared to charts from more recent years, tracking the price of Bitcoin prior to 2013 is challenging. Before April 2013, Bitcoin prices were not tracked by popular price tracking services and websites like CoinGecko or CoinMarketCap.


CoinGecko CEO Bobby Ong told Cointelegraph that "Bitcoin was very much in its infancy prior to 2013 and there were not that many places trading Bitcoin back then." He went on to say that since CoinGecko hasn't received many requests for data from before 2013, the platform doesn't give it much of a priority.

Falling Bitcoin From 1,000$ to 200$ in 2015

Cointelegraph's BTC price data shows that the price of Bitcoin reached $100 in the middle of April 2013 and then continued to rise to briefly reach $1,000 in November 2013.Shortly after surpassing $1,000 for the first time in history, Bitcoin entered a massive bear market, with the BTC price falling below $700 a month later. At the end of 2013, the Chinese central bank started to crack down on Bitcoin, preventing local financial institutions from handling BTC transactions. This led to the price drop.

Over the next two years, the cryptocurrency continued to plummet, reaching a low of around $170 in January 2015 after reaching a low of around $360 in April 2014. The hack of the Mt. Gox cryptocurrency exchange, which halted all Bitcoin withdrawals at the beginning of February 2014, was linked to the prolonged cryptocurrency winter of 2014. After that, the platform stopped all trading and ended up declaring bankruptcy in Tokyo and the United States. The U.S. The Commodity Futures Trading Commission asserted in late 2014 that it had authority over "Bitcoin price manipulation" and raised concerns about Bitcoin as well. Until August 2015, when the trend began a long-term reversal, the general sentiment regarding Bitcoin was mostly negative. In spite of the strong bullish market, Bitcoin finally reached $1,000 in January 2017. In Bitcoin's history, this was the longest period of high price recovery ever.


In December 2017 high of $20,000, Bitcoin has fallen below $3,200.

Bitcoin continued to rise after recovering to $1,000 in January 2017 and reaching $20,000 by the end of the year.However, just like Bitcoin's previous historical high of $1,000, the triumph of $20,000 was only temporary. Within a few months, Bitcoin plunged and lost more than 60% of its value. As the Bitcoin market continued to shrink, the year 2018 quickly became known as a "crypto winter," with BTC reaching its lowest point in December 2018 at approximately $3,200. Security issues on another Japanese cryptocurrency exchange, Coincheck, marked the beginning of the crypto winter. Coincheck was the target of a massive hack in January 2018, resulting in a loss of approximately $530 million worth of NEM (XEM) cryptocurrency. In March and June of 2018, respectively, tech giants Facebook and Google removed advertisements for token sales and initial coin offerings from their platforms, escalating the bear market even further. The U.S. Securities and Exchange Commission rejected applications for BTC exchange-traded funds, which contributed to the bear market as well.