It will be interesting if we take a peek back at the Bitcoin all-time high (ATH) chart from time to time. The uptrend since mid-December 2018 indicates the next high increase.
Since Bitcoin was born in 2009, its price has tended to go up high a few months after the halving. However, there are other explanations for the past that reflect the potential for future improvements.
What is the highest Bitcoin price since Bitcoin was born?
The actual highest Bitcoin price depends on the crypto exchange price you are referring to. If you stick to the price on Bitfinex, as the largest crypto exchange at the time, then the all-time high was US $ 19,891.00 per BTC. Meanwhile, Coinmarketcap.com, which recorded the average price of Bitcoin from a number of exchanges, recorded a price of US $ 20,089 on December 17, 2017 at 19.19 WIB.
The chart above shows the length of time Bitcoin reached its highest price. For example, the 2014-2017 start time span is 1164 days. This achievement is much longer than before, namely 2011-2013.
Meanwhile, from 2018 to 2020, an upward trend has begun to occur and has the potential to exceed its highest price, December 2017 (US $ 19,891.00 per BTC).
So, Bitcoin Was Never At US $ 20,000 per BTC?
Not if you are referring to a specific crypto asset exchange. However, if seen from the global average price of US $ 20 thousand or equivalent to Rp. 300 million at that time. However, to be fair, let's say the top price was actually just under US $ 20,000.
Why did Bitcoin Set the All-Time Highest Price Record on February 23, 2017?
Prior to February 23, 2017, Bitcoin had experienced a price decline for 2 years followed by an upward movement of about 2 years. After approaching the previous high, the price broke through and continued to rise throughout 2017.
Why did Bitcoin Set the All-Time Highest Price Record on November 5, 2013?
It is a wave driven by hype and greed. People had heard about Bitcoin throughout 2013, but never acted. In the second half, many people finally "jump in" and get interested.
Why did Bitcoin Set the All-Time Highest Price Record on February 20, 2013?
Many believe that the Cyprus financial crisis helped create new demand for Bitcoin. The Cyprus financial crisis of 2012-2013 was an economic crisis in the Republic of Cyprus which was caused by the influence of the Greek debt crisis on the banks in Cyprus, the decline of the Cypriot economy into junk bonds, the inability of the state to pay the costs of the international market and the government's reluctance to restructure the financial sector. Cyprus is in trouble.
When Will Bitcoin Come Back High Again?
No one knows for sure! One trend to watch out for is the Bitcoin Halving, which has often repeated its history. The next halving, phase 3 is expected to fall on 12 May 2020 in block 360,000. Historically, the price of Bitcoin went up a few months after the halving.
Will Bitcoin Be Higher Than US $ 20K?
Again, no one knows for sure! The price of Bitcoin always moves in cycles. It is difficult to say whether this trend will continue or whether the cycle will be different from previous years.
All-Time Highest Bitcoin Price in INR (Indian Rupee)
The highest price in rupees for Bitcoin is IDR 2,500,000 as of 17 December 2017.
All-Time Highest Bitcoin Price in CAD (Canadian Dollar)
The highest price in Canadian dollars for Bitcoin was $ 25,497 CAD on December 17, 2017.
All-Time Highest Bitcoin Price in GBP (British Pound)
The highest price in British pounds sterling for Bitcoin was £ 14,490 on 18 December 2017.