Bitcoin is currently trading right around $47k at press time after having recorded a miserable last month or so. The largest digital currency by market capitalization despite the ups and downs of 2021 has had a major bullish year with the cryptocurrency rising to as high as $69k at one point just around 2 months ago. But, not every year’s close is going to be all bullish for the digital currency and previous ones show us that. Let us look at the six previous years and see how the crypto closed at the end of the calendar year then.
Bitcoin finished the year 2015 at around $435. It is around 1/100th of the price level at press time and shows you just how far we have come. Interestingly, this was also on the higher side of the year meaning most of this year was spent with Bitcoin hovering around lower levels i.e. around $200s and $300s.
Bitcoin finished 2016 at around $973. This was the year of the second halving of the digital currency. Not much happened in this year but the overall index did double from the previous year itself which was a sign of big things to come.
The year 2017 was a big one for the digital currency sector and went close to becoming mainstream. The index itself recorded a massive close of $14.3k on 31st of December 2021 after having reached as high as $20k just a few days earlier. This was to be the biggest valuation of the cryptocurrency for the next few years.
2017 immediately followed by a heavily bearish 2018 in which prices dropped a lot. At the end of the year, Bitcoin was down to $3.85k, a big loss from the previous year.
While 2019 did show some promise in between to get out of the bearish bias, it could only manage $7.3k at the end of the year itself. However, the recovery meant that for many critics Bitcoin refused to die despite them declaring it dead tens of times at its low point in existence. So, it could look forward to 2020 with anticipation.
2020 was the year of the latest block reward halving, third in Bitcoin’s cycle. The cryptocurrency eventually closed at around $29.1k after a late charge in the last few months. Otherwise, the March 12-13 price decrease forced it as low as $4k at one point. This capped a tumultuous year but the ending was so abruptly bearish that we could expect a big year in the near future.
On December 31, 2021, it is clear that the cryptocurrency is in for a close at around $48k level with some minor changes expected. The cryptocurrency has gained almost more 70% from last year’s levels but this year is completely opposite to 2020 as it ended with a bearish trend after clocking more than $69k value at one point. Now, we must look at 2022 which is expected to have a bearish close if previous trends are followed. According to most crypto analysts, the bull run is not over yet and will continue for a little while into 2022 as well.
Image Source: pixabay.com
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