Bitcoin price has a long and bumpy history, considering the volatility of this leading cryptocurrency. The speculative nature of BTC also has everyone wondering how it can finish the year. So, is Bitcoin a profitable investment to make?
4 October 2018 – Bitcoin investors can be divided into two groups – optimistic Bitcoin investors and those, who are always selling their coins once BTC enters a bearish territory. Which group are you in?
Regardless of the group you believe you belong to, you definitely find yourself wondering: how profitable will Bitcoin be by the end of this year?
Is Bitcoin still profitable or not?
The leading cryptocurrency has reached its all-time high back in December 2017, when it hit around $19,000 for one BTC. Since then, the currency lost a lot of its value, while now, Bitcoin’s price is standing at $6,573.12.
As BTC lost a significant part of its gains, many investors are left wondering whether Bitcoin investment is still profitable. In order to find out, let’s look into some statistics.
Can Bitcoin bring you profits in 2019?
Indeed, Bitcoin lost more than 50 percent of its value this year. However, this is not the first time this is happening. Back in 2014, Bitcoin experienced even greater losses it has seen during this year, and cryptocurrency experts are still unsure about what has caused this movement.
The year of 2015 did not see a great performance from the cryptocurrency-pioneer’s side as well. As a matter of fact, Bitcoin’s price dropped for the most part of 2015 and still managed to end the year at $430, which stood for a 35% gain of the whole year.
This leaves cryptocurrency enthusiasts speculating that the price of Bitcoin might rise in the near future.
Bitcoin Price Historical Patterns
It might be a little too early to conclude that, but there might be a repetitive pattern that Bitcoin’s price is following in some cases.
2013 has been the year when Bitcoin’s price has seen the quickest progress. As we already mentioned above, the following 2014 year brought significant dips into Bitcoin traders’ lives. Then, these price movements were followed by a relative price recovery at the end of 2015.
BTC did not manage to reach the great levels of 2013 until January 2017. Now, Bitcoin’s price is again in recession. Can it be the same scenario markets saw back in 2014?
Eventful end of the year?
Another point worth mentioning is that there is something that always happens in the market at the end of each year. If we talk about Bitcoin’s price, some of the most significant price gains emerged between November and January. It happened in 2013, 2015, 2016 and 2017.
Think we missed something? Let us know in the comments section below.