Bitcoin price is again in headlines, marking a steep recovery from the last year trading range of 7200 – 7500 USD, it is currently changing hands around at 8,700 USD and climbing steadily. The premier cryptocurrency in the world recovered from bearish state, to attain this new year price improvement. However, in the historical perspective, how has the Bitcoin price typically performed at the beginning of each year, since 2013, when significant trading started to happen?
(The yearly trading ranges for the different years were taken from Investing and range calculated by inputting the median trading range for each month in year, highest and lowest values are mentioned also)
Bitcoin Price : New Year Analysis 2013-2014
Bitcoin was launched in 2009, but major trading volume and significant price action didn’t happen until 2013. In 2013, Bitcoin traded at an yearly range of 1,185.3 USD, with lowest value at 20.3 USD and highest value at 1,205.7 USD. The new year of 2014 actually dropped the prices lower and the median price for Bitcoin was 938.8 USD in January 2014.
Bitcoin price : New Year Analysis 2014-2015
During the year 2014, Bitcoin traded at an yearly range of 620.6 USD, with lowest value at 318.2 USD and highest at 938.8 USD. The new year saw severe decrease in Bitcoin price and it traded at a median price of 218.5 USD in January 2015.
Bitcoin price : New Year Analysis 2015-2016
Bitcoin traded at an yearly range of 211.5 USD, with lowest at 218.5 USD and highest at 430 USD, during 2015. The new year didn’t improve things for Bitcoin and it traded at a median price of 369.8 USD for the month of January 2016.
Bitcoin price : New Year Analysis 2016-2017
It was in the year of 2016 that Bitcoin trading range improved to 593.6 USD, with lowest value at 369.8 USD and highest value at 963.4 USD. This year saw the prices rise for the first time on new year eve, to a median of 965.5 USD for the month of Jan 2017.
Bitcoin price : New Year Analysis 2017-2018
At this point in the history, Bitcoin started to gain traction, adoption and recognition, which caused major increase in price. For the year of 2017, the trading range was 12, 884.9 USD, with lowest value at 965.5 USD and highest value at 1,3850.4 USD. The new year didn’t cause any improvement again and for the month of Jan 2018, the median price was 10,265.4 USD.
Bitcoin price : New Year Analysis 2018-2019
During this year, the recession and so called crypto winter set in, the trading range for the year of 2018 was 6,624.5 USD, with lowest value at 3,709.4 USD and highest value at 10,333.9 USD. The new year caused significant decrease in the prices and the median for the month of Jan 2019 was 3,437.2 USD.
Bitcoin price : New Year Analysis 2019-2020
All of that, brings us to this year. The yearly range for 2019 was 7,381.4 USD, with lowest value at 3,437.2 USD and highest value at 10,818.6 USD. The new year of 2020 brought for the first time, an extremely significant improvement in Bitcoin price and from first Jan 2020 until now the median is 8,765.5 USD. This can be interpreted as a sign of asset maturity, rising economical and geopolitical scenarios favoring its growth, and people’s renewed interest in Bitcoin.