Bitcoin price history. Changes in the chart
Most forecasts on bitcoin, according to the established practice, didn’t even have time to face the results. In addition, well-known experts in the financial market often make some forecasts with underlying reasons to go viral. The comparison of forecasts and actual bitcoin results is a good measure, so we can go into the digression of the plan-actual analysis of the results achieved by cryptocurrency.
The first signs of attention to bitcoin began to appear in 2011. This is the first equation of the nominal value of BTC to USD on February 9 and a sharp downward trend in June. The end of the year was marked by a large number of thefts from well-known exchanges through the hacking of accounts. Bitcoin tech allowed to roll data records back to the original. Though by the end of the year, claims on bitcoin were minimal, and the nickname "bubble" was firmly entrenched.
BTC to USD chart in 2012
These twelve months were the turning point in the history of bitcoin. Year of ups and downs, arrests of trading platforms. By mid-December, the value of the cryptocurrency, contrary to expectations, reached the value of 700 USD. This was a reason for more than a serious concern of experts.
In the media, there have been allegations that bitcoin is beginning to threaten the Chinese economy. The forecasts didn’t come true even in the year 2014 when the People's Bank of China issued a ban on conducting transactions on its territory. However, today this Asian country controls at least 80 percent of all global bitcoin transactions.
The agiotage in the network began to shift to the masses, people started selling their property to buy ASIC bitcoin mining hardware.
The 2014 price of bitcoin in USD
Experts and the media were more influenced by emotions than by cold judgment in their forecasts. To confirm this phenomenon one can have a look at a survey made by Coindesk portal. The essence of the question was to confirm the expectations of reaching the price of 10,000 USD per bitcoin noting that most experts predicted the increase.
The results were awkward: people didn’t consider the abolition of bitcoin or moderate predictions. But the actual result of this year is already known – during the entire 2014 the bitcoin rate was inexorably down, though it didn’t stop news agencies from calling it "stabilizing the cryptocurrency". At the same time, this year marked the improvement in the quality of transactions and the greater coverage of the transaction geography.
Bitcoin vs USD continues in 2015
Evidently, all bitcoin users have already had time to get acquainted with the forecast data of the analytical agency Juniper Research. Experts of the company cited disappointing data, according to which bitcoin was in a long downtrend. In general, it all happened with a record of 600-700 USD to BTC followed by 500 in December.
The lack of proper volatility allowed the developers to focus on more important issues. Long-overdue issues with improving the level of security and software have been successfully resolved.
Some odd predictions in 2016
The outlook for this period was more than aggressive. The backdrop of a decline in confidence in the national currencies and other established financial instruments made bitcoin foretold with a nominal value of almost 50,000 USD per coin. This information can be found on the Cryptoсoinnews portal. It isn't known for sure whether this was a provocation to the general capitalization of the "bubble", but the forecast of Ronnie Moas didn’t come true at all.
2017 and further. What yet to come?
Forecasts for bitcoin 2017 and further are based on a fundamental analysis. In 2017 the reduction of the miners’ awards was fixed. This means that bitcoin will only get stronger due to the algorithm. The fair value, which is predicted by the majority of experts, is considered at 800-1000 USD to BTC.
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