{"id":194379,"date":"2020-01-14T15:58:21","date_gmt":"2020-01-14T12:58:21","guid":{"rendered":"http:\/\/ww-vb.mine.nu\/w108\/bitcoins-price-rose-87-in-2019-heres-what-happened-in-q4\/"},"modified":"2020-01-14T15:58:21","modified_gmt":"2020-01-14T12:58:21","slug":"bitcoins-price-rose-87-in-2019-heres-what-happened-in-q4","status":"publish","type":"post","link":"https:\/\/hameed.nwar.uk\/sa\/bitcoins-price-rose-87-in-2019-heres-what-happened-in-q4\/","title":{"rendered":"Bitcoin\u2019s price rose 87% in 2019 \u2014 here\u2019s what happened in Q4"},"content":{"rendered":"

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\n<\/p>\n

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Despite common fluctuations in price<\/span><\/span>, Bitcoin<\/span><\/span>\u2018s performance<\/span><\/span> throughout 2019 was somewhat unremarkable.<\/p>\n

We\u2019ve taken a closer look at the cryptocurrency<\/span><\/span>\u2018s price<\/span><\/span> movements, focusing specifically on its performance<\/span><\/span> during Q4 2019.<\/p>\n

But, first, let\u2019s briefly recap\u00a0Bitcoin<\/span><\/span>\u2018s\u00a0performance<\/span><\/span>\u00a0during the first nine months of the year.<\/p>\n

Q1 recap<\/h3>\n

Bitcoin BTC was relatively stable from January to March 2019.<\/p>\n

It started the year off at $3,717 and a brief 9-percent increase in its trading<\/span><\/span> price<\/span><\/span> saw it surpass the $4,000 barrier during the first week of January.<\/p>\n

The upward trend<\/span><\/span> was short-lived, though. Within a month, its\u00a0price<\/span> fell to a low of $3,358 on February 7.<\/p>\n

From then on, Bitcoin<\/span> demonstrated some relative stability but experienced a notable drop at the end of February where its trading<\/span><\/span> value<\/span><\/span> dropped 8 percent from $4,106\u00a0\u2060\u2014 its highest price<\/span> during Q1\u00a0\u2060\u2014 to $3,784 over a 24-hour period.<\/p>\n

By March, Bitcoin<\/span>\u00a0had almost equaled its quarter high and closed trading<\/span><\/span> at $4,092, representing a modest 10-percent growth<\/span><\/span> for the quarter<\/span><\/span>.<\/p>\n

Q2 recap<\/h3>\n

The second quarter of 2019 proved to be much more fruitful for investors<\/span> and hodlers.<\/p>\n

Bitcoin<\/span> opened April at $4,125 \u2014 marking the start of a three-month-long<\/span> rally.<\/p>\n

Over Q2, Bitcoin<\/span> set numerous records for reaching prices<\/span> that hadn\u2019t been seen over the previous 12 months.<\/p>\n

Q3 recap<\/h3>\n

At the height of summer, in July, Bitcoin<\/span> opened above the $10,000 mark, hitting $10,442.80 on the first day of the month. It then went on to surpass $11,000 within the first two weeks of the quarter<\/span><\/span>.<\/p>\n

The\u00a0quarter<\/span>\u2018s highest\u00a0value<\/span><\/span>\u00a0<\/span>was hit in early August<\/span><\/span>, when the\u00a0digital currency<\/span>\u00a0<\/span>surpassed $11,000, trading<\/span><\/span> at $11,815.04 on August<\/span><\/span> 7.<\/p>\n

However, a week later, on August 14,\u00a0\u00a0Bitcoin<\/span><\/span>\u2019s trading<\/span><\/span> price<\/span><\/span> decreased\u00a0by 14 percent, stabilizing at $10,137.88.<\/p>\n

The month of August<\/span><\/span> ended with\u00a0Bitcoin<\/span>\u00a0<\/span>trading well below $10,000, and costing just $9,462.50 on August 31.<\/p>\n

Bitcoin<\/span> started trading at $9,603.10 on September 1, increasing by 7 percent and hitting $10,363.03 the following day.<\/p>\n

The\u00a0digital currency<\/span>\u00a0<\/span>hovered around the $10,000 mark for most of the month, until it dropped to $9931.40 on September 21 and continued to plummet over the next three days, leaving it sitting at $8,549.93 on September 24. Its\u00a0lowest\u00a0value<\/span><\/span>\u00a0<\/span>for Q3 was reached on September 29 when it was trading $7,994.55.<\/p>\n

Bitcoin\u2019s Q4 performance<\/h3>\n

October saw Bitcoin<\/span><\/span> trade at prices<\/span> unseen since the previous month of June.<\/p>\n

It was hovering around $8,343.93 before falling by 5 percent to $7879.23 on October 6. It then recovered slightly, reaching $8195.13 the following day.<\/p>\n

\"\"
<\/a>Courtesy of eToro.<\/figcaption><\/figure>\n

The biggest drop happened October 24, when the cryptocurrency<\/span> plummeted to $7421.20.<\/p>\n

Three days later, on October 27, Bitcoin<\/span> would gain momentum to reach both the month\u2019s and quarter<\/span><\/span>\u2018s high at $9595.34.<\/p>\n

By October 31, the cryptocurrency<\/span> was trading at $9160.55.<\/p>\n

Bitcoin<\/span> remained relatively stable during the first few days of November 2019, maintaining around and above the $9,100 mark.<\/p>\n

It jumped to $9,396.19 on November 4 before dramatically dropping to $8,771.30 on November 9.<\/p>\n

\"\"
<\/a>Courtesy of eToro.<\/figcaption><\/figure>\n

Then things went from bad to worse. On November 10, Bitcoin<\/span> was trading for $9,009.69 a coin<\/span><\/span><\/span> but it began to plunge in the following days and weeks, hitting $7,026.83 on November 24.<\/p>\n

The cryptocurrency<\/span> remained well below the $8,000 mark for the rest of the month, finishing on $7,528.47 on November 30.<\/p>\n

On December 1, Bitcoin<\/span> was sitting at $7,265.69 and it remained above the $7,000 mark during the first fortnight of the month.<\/p>\n

The cryptocurrency<\/span> experienced somewhat of a rally mid-month, hitting $6,861.92 on December 16 and going on to reach $7,252.71 on December 18.<\/p>\n

\"\"
<\/a>Courtesy of eToro.<\/figcaption><\/figure>\n

Bitcoin<\/span><\/span> peaked on December 23, trading at $7,580.20 a coin<\/span><\/span>.<\/p>\n

It then finished the month on December 31 hovering at just over $7,100.<\/p>\n

Q4 2018 vs Q4 2019<\/h2>\n

Bitcoin\u2019s price<\/span><\/span> was definitely higher during Q4 2019 than in Q3 the previous year.<\/p>\n

In October 2018, Bitcoin<\/span><\/span> was trading for way below $7,000, sitting roughly around the $6,500 mark.<\/p>\n

\"\"
<\/a>Courtesy of eToro.<\/figcaption><\/figure>\n

The cryptocurrency<\/span><\/span>\u2018s performance<\/span><\/span> followed the same line throughout the following month. It peaked momentarily during the first week of November going slightly above $6,500 before plummeting by more than $1,000 and sitting just above $5,500 on November 18.<\/p>\n

Bitcoin<\/span><\/span> continued to drop finishing the month well below $4,000.<\/p>\n

At the beginning of December 2018, Bitcoin<\/span><\/span> was hovering close to $4,200 and remained below the $4,000 throughout the rest of the month.<\/p>\n

Major events during Q4 2019<\/h2>\n

In early October, Russia<\/span><\/span> reportedly enacted a new \u201cdigital<\/span><\/span><\/span> rights act\u201d that defines smart contracts and cryptocurrency<\/span><\/span> tokens. Although the\u00a0country is yet to fully embrace cryptocurrency<\/span><\/span>, this was largely perceived as a step toward potentially regulating the space<\/span><\/span><\/span>.<\/p>\n

Several days later, Bitcoin<\/span><\/span> made headlines<\/span><\/span><\/span> by association after German police\u00a0executed a hi-tech raid on a\u00a0data<\/span><\/span>\u00a0<\/span>processing centre installed in an ex-Nato bunker. The bunker allegedly hosted dark<\/span><\/span><\/span> web sites to deal drugs and child abuse imagery.<\/p>\n

Ohio, the first US<\/span><\/span> state<\/span><\/span><\/span> to accept Bitcoin<\/span>\u00a0<\/span>for taxes, suspended its cryptocurrency payment system meaning businesses can no longer pay in digital<\/span><\/span><\/span> assets.<\/p>\n

Europol said Bitcoin<\/span><\/span>\u00a0was still very much the dark web<\/span><\/span><\/span>\u2018s favorite<\/span><\/span> cryptocurrency<\/span><\/span> but noted that those looking to cover their tracks were slowly learning to use\u00a0privacy-focused\u00a0alternatives.<\/p>\n

Authorities charged\u00a0a 23-year-old\u00a0South Korean<\/span><\/span>\u00a0man of running the world\u2019s \u201clargest child sexual<\/span><\/span> exploitation<\/span> market<\/span><\/span><\/span>,\u201d which reportedly\u00a0processed\u00a07,300\u00a0Bitcoin<\/span><\/span><\/span>\u00a0<\/span>transactions<\/span> worth over $730,000.<\/p>\n

Cumulative Bitcoin<\/span><\/span>\u00a0transaction fees<\/span> surpassed the $1 billion milestone in mid-October.<\/p>\n

Bitcoin<\/span><\/span>-hungry hackers<\/span><\/span><\/span> gave the city of Johannesburg three days to pay more than $30,000 worth of the cryptocurrency<\/span><\/span>.<\/p>\n

Finally, a\u00a0report by marketing analysis<\/span><\/span><\/span> firm SEMRush claimed\u00a0Bitcoin<\/span> was the third most popular method for online<\/span><\/span><\/span><\/span> payments<\/span> in Italy, beating<\/span>\u00a0payment processor<\/span><\/span> PayPal<\/span> and Italian prepaid cash card provider PostePay.<\/p>\n

Looking ahead<\/h2>\n

It\u2019s never easy to predict Bitcoin<\/span>\u2018s price<\/span> movements, but the cryptocurrency<\/span> has been moving upwards so far this year.<\/p>\n

Having landed January above the $7,100 mark, Bitcoin<\/span> has remained relatively stable, maintaining itself mostly above $7,000 but well below $8,500.<\/p>\n

While these values<\/span><\/span> are not necessarily encouraging \u2014\u00a0especially if we look back to January 2018, when one coin was priced at well over\u00a0$13,343.71 \u2014 they\u2019re a significant improvement when compared to Bitcoin<\/span>\u2018s lowly price<\/span> of $3,000-$4,000 this time last year.<\/p>\n

\n <\/p>\n

\"\"This post is brought to you by eToro. eToro is a multi-asset platform which offers both investing in stocks and cryptocurrencies, as well as trading CFD assets. <\/span>
\nPlease note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. <\/span>65% of retail investor accounts lose money when trading CFDs with this provider.<\/b> You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.<\/span>
\nCryptocurrencies can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework.
\nPast performance is not an indication of future results. This is not investment advice. Your capital is at risk.<\/span><\/p>\n<\/div>\n

\n Published January 14, 2020 \u2014 11:50 UTC\n <\/p>\n<\/p><\/div>\n