Despite common fluctuations in price, Bitcoins performance throughout 2019 was somewhat unremarkable.<\/p>\n
Weve taken a closer look at the cryptocurrencys price movements, focusing specifically on its performance during Q4 2019.<\/p>\n
But, first, lets briefly recapBitcoinsperformanceduring the first nine months of the year.<\/p>\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 price saw it surpass the $4,000 barrier during the first week of January.<\/p>\n
The upward trend was short-lived, though. Within a month, itsprice fell to a low of $3,358 on February 7.<\/p>\n
From then on, Bitcoin demonstrated some relative stability but experienced a notable drop at the end of February where its trading value dropped 8 percent from $4,106 its highest price during Q1 to $3,784 over a 24-hour period.<\/p>\n
By March, Bitcoinhad almost equaled its quarter high and closed trading at $4,092, representing a modest 10-percent growth for the quarter.<\/p>\n
The second quarter of 2019 proved to be much more fruitful for investors and hodlers.<\/p>\n
Bitcoin opened April at $4,125 marking the start of a three-month-long rally.<\/p>\n
Over Q2, Bitcoin set numerous records for reaching prices that hadnt been seen over the previous 12 months.<\/p>\n
At the height of summer, in July, Bitcoin 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.<\/p>\n
Thequarters highestvaluewas hit in early August, when thedigital currencysurpassed $11,000, trading at $11,815.04 on August 7.<\/p>\n
However, a week later, on August 14,Bitcoins trading price decreasedby 14 percent, stabilizing at $10,137.88.<\/p>\n
The month of August ended withBitcointrading well below $10,000, and costing just $9,462.50 on August 31.<\/p>\n
Bitcoin started trading at $9,603.10 on September 1, increasing by 7 percent and hitting $10,363.03 the following day.<\/p>\n
Thedigital currencyhovered 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. Itslowestvaluefor Q3 was reached on September 29 when it was trading $7,994.55.<\/p>\n
October saw Bitcoin trade at prices 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
The biggest drop happened October 24, when the cryptocurrency plummeted to $7421.20.<\/p>\n
Three days later, on October 27, Bitcoin would gain momentum to reach both the months and quarters high at $9595.34.<\/p>\n
By October 31, the cryptocurrency was trading at $9160.55.<\/p>\n
Bitcoin 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
Then things went from bad to worse. On November 10, Bitcoin was trading for $9,009.69 a coin but it began to plunge in the following days and weeks, hitting $7,026.83 on November 24.<\/p>\n
The cryptocurrency 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 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 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
Bitcoin peaked on December 23, trading at $7,580.20 a coin.<\/p>\n
It then finished the month on December 31 hovering at just over $7,100.<\/p>\n
Bitcoins price was definitely higher during Q4 2019 than in Q3 the previous year.<\/p>\n
In October 2018, Bitcoin was trading for way below $7,000, sitting roughly around the $6,500 mark.<\/p>\n
The cryptocurrencys performance 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 continued to drop finishing the month well below $4,000.<\/p>\n
At the beginning of December 2018, Bitcoin was hovering close to $4,200 and remained below the $4,000 throughout the rest of the month.<\/p>\n
In early October, Russia reportedly enacted a new digital rights act that defines smart contracts and cryptocurrency tokens. Although thecountry is yet to fully embrace cryptocurrency, this was largely perceived as a step toward potentially regulating the space.<\/p>\n
Several days later, Bitcoin made headlines by association after German policeexecuted a hi-tech raid on adataprocessing centre installed in an ex-Nato bunker. The bunker allegedly hosted dark web sites to deal drugs and child abuse imagery.<\/p>\n
Ohio, the first US state to accept Bitcoinfor taxes, suspended its cryptocurrency payment system meaning businesses can no longer pay in digital assets.<\/p>\n
Europol said Bitcoinwas still very much the dark webs favorite cryptocurrency but noted that those looking to cover their tracks were slowly learning to useprivacy-focusedalternatives.<\/p>\n
Authorities chargeda 23-year-oldSouth Koreanman of running the worlds largest child sexual exploitation market, which reportedlyprocessed7,300Bitcointransactions worth over $730,000.<\/p>\n
Cumulative Bitcointransaction fees surpassed the $1 billion milestone in mid-October.<\/p>\n
Bitcoin-hungry hackers gave the city of Johannesburg three days to pay more than $30,000 worth of the cryptocurrency.<\/p>\n
Finally, areport by marketing analysis firm SEMRush claimedBitcoin was the third most popular method for online payments in Italy, beatingpayment processor PayPal and Italian prepaid cash card provider PostePay.<\/p>\n
Its never easy to predict Bitcoins price movements, but the cryptocurrency has been moving upwards so far this year.<\/p>\n
Having landed January above the $7,100 mark, Bitcoin has remained relatively stable, maintaining itself mostly above $7,000 but well below $8,500.<\/p>\n
While these values are not necessarily encouraging especially if we look back to January 2018, when one coin was priced at well over$13,343.71 theyre a significant improvement when compared to Bitcoins lowly price of $3,000-$4,000 this time last year.<\/p>\n
Published January 14, 2020 11:50 UTC <\/p>\n
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