It's that time of year when we reflect over the past year and look at the progress in our lives. Going into the year 2020, the price of Bitcoin is looking to end the year in this $6,000-$8000 USD area. Down from the 2017-18 bull run that took the price to an all-time high of around $20,000 USD.
The current price of BTC at the time of writing this:
Past Christmas Prices
2013-2019
Source: CoinGecko
When we look back at the data in previous years, recorded data for the market only dates back to 2013 when Bitcoin's Genesis block started in 2009. We are not going to beat 2017's mid-bull rally price of around $16,000 USD but compared to last year's breakdown to roughly $4,000 USD, the price is sitting nicely above that at around $7,250 USD. We've come a long way from those days when trying to break $1,000 USD was a big deal and took over 5 years to do it.
Christmas 2020
Will next year's Christmas price beat 2017's closing price? Some believe it will. The price of Bitcoin has gradually grown from being worth $0, to the infamous pizza purchase in 2010, to the 2017 bull rally, and now the current price. Aside from the block reward halving and many other factors happening next year, many predictions point to a big year in 2020.
Whatever the price may be, Bitcoin and Blockchain technology has come far. An industry with a market cap of over $130 Billion USD is quite an achievement for an open-source project where its value comes from the code that it's written in.
Have a safe and happy holidays in crypto and in life. Here's to a new year, a new decade in Blockchain!
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Thank you for reading,
