By the end of this year bitcoin will have 13 consecutive years of recorded market value under its belt. Seven of those years saw Santa rallies all the way up until New Year’s Eve, and five of the 13 years saw bearish returns from Dec. 1 to Dec. 31. There’s still six more days left until the end of 2022, but current market action seems to point toward negative returns this month.
13 Years of Bitcoin Prices in December
2022 wasn’t the greatest year for bitcoin (BTC) in terms of market value measured in fiat. At the start of the year, BTC was trading for roughly $46K per unit and since then, the price has tumbled 63% since the first of Jan. 2022. According to records, the first recorded nominal value of bitcoin in U.S. dollars was on Oct. 5, 2009 and it was selling for $0.00764 per BTC on New Liberty Standard (NLS). At that rate, whoever was buying bitcoins at that time via NLS could get around 1,309.03 BTC for $1.
We cant really count 2009, as seeing gains during the last month of the year, as recorded prices are sporadic. However, records show on Dec. 17, 2009, one could get around 1,630.33 BTC for for a single greenback. On Dec. 28, 2009, NLS quotes are around 1,578.76 BTC for $1. In Dec. 2010, BTC’s price was much higher and on the first day of the month, BTC exchanged hands for $0.21 per coin. By Dec. 31, 2010, a single bitcoin was 42.85% higher at $0.30 per unit. Bitcoin would also see gains during the last month in 2011, and 2012.
In 2011, BTC traded for $2.97 per unit on Dec. 1, and thirty days later BTC exchanged hands for $4.25 or 43.09% higher. On Dec. 1, 2012, BTC changed hands for $12.57 per coin and by the end of the year, BTC was up 7% at $13.45 per unit. During the next two years, despite the bull run in 2013, BTC did not see Santa rallies. For instance, on Dec. 1, 2013, BTC was trading for $955.85 per coin and by Dec 31, it was 21.11% lower at $754.01 per unit.
2014 saw a 15.57% loss as BTC traded for $379.25 on Dec. 1, and found itself changing hands for $320.19 by the year’s end. The last month of 2015, 2016, and 2017 all saw Santa rallies. In 2015 on Dec. 1, bitcoin was trading for $362.49, but by the year’s end it jumped 18.78% higher as it exchanged hands for $430.57 per unit. Similarly, on Dec. 1, 2016, BTC was trading for $756.77 and by Dec. 31, it was up 27.34% and was swapping for $963.74 per coin.
BTC also saw gains in 2017 when it traded for $10,975.60 per coin on Dec. 1 and then ended the year 28.98% higher at $14,156.40 per BTC. History shows that three out of the four next Decembers saw negative returns. In 2018, BTC swapped for $4,194.39 on Dec. 1, and on Dec. 31, BTC was trading for $3,740.23 losing 10.82% in USD value. The next year on Dec. 1, 2019, bitcoin was trading for $7,449.52 and by the end of the year, it was down 3.13% and traded for $7,216.10 per unit.
2020 was the best bitcoin Santa rally ever recorded as BTC jumped 53% higher during the last month of the year. On Dec. 1, 2020, BTC swapped hands for $18,876.77 per coin and by the year’s end it was up to $28,994.35. At the end of 2021, BTC prices dropped during the last month, sliding 18.92% in USD value during the course of 30 days.
On Dec. 1, 2021, BTC was trading for $57,217.66 per unit and by the month’s end, BTC was down to $46,387.98 per coin. Last month, wasn’t the greatest for BTC as it was up above $20K per unit before FTX collapsed. That specific event sent shockwaves through not only the industry, but it caused crypto markets to drop considerably in fiat value as well.
As of right now on Dec. 25, 2022, it does not seem like a Santa rally is in the cards for bitcoiners but you never know how the year could end. Over the next week, BTC could jump 10% or more higher and end 2022’s dismal bear market with a bang. Or we just might see what we’ve seen during the past few weeks, which is a whole lot of lackluster movements, low volumes since the FTX aftermath subsided, and a great deal of consolidation.
What do you think about the last 13 years of bitcoin’s recorded value? Let us know what you think about this subject in the comments section below.
from Bitcoin News https://ift.tt/C0XwAqY
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