www.banklesstimes.com
HomeCryptocurrency HubBitcoin’s Biggest Price Corrections

Bitcoin’s Biggest Price Corrections

Last updated 26th Sep 2022
Disclosure

Bitcoin (BTC) is no stranger to volatility.

During its short lifespan, the price of BTC has seen immense growth, going from virtually 0 to over $68,000 at its most recent peak.

However, its price has not gone up in a straight line, but instead seen numerous peaks and troughs spread out over the past few years.

This has made Bitcoin a highly attractive asset for some, and completely undesirable for others.

The troughs, or price corrections as they are also known, can be painful and costly experiences if you are caught on the wrong side of the trade.

Since 2012, there have been several instances of 30% or more price drops in BTC, in many cases leading to new all-time highs shortly after.

In this guide, we look at the top 5 biggest Bitcoin crashes to date along with the reasons behind the decline.

5. 14 April 2021 - 22 June 2021 — 55.95%

Bitcoin high price: $64,895.22

Bitcoin low price: $28,600

Number of days in correction: 69

Number of days until new high: 189

Reason: Coinbase gets listed on the stock market, China announces a cryptocurrency ban.

4. 26 June 2019 - 13 March 2020 — 72.26%

Bitcoin high price: $13,880

Bitcoin low price: $3,850

Number of days in correction: 261

Number of days until new high: 493

Reason: Uncertainty around Tether stablecoin reserves and COVID-19 rocks the global markets including crypto.

3. 10-12 April 2013 — 82.65%

Bitcoin high price: $259.34

Bitcoin low price: $45

Number of days in correction: 2

Number of days until new high: 210

Reason: Cryptocurrency exchanges came under distributed denial of service attacks.

2. 17 December 2017 - 15 December 2018 — 84.12%

Bitcoin high price: $19,666

Bitcoin low price: $3,122.28

Number of days in correction: 363

Number of days until new high: 1079

Reason: CME Group launches Bitcoin futures and Coincheck, Japan’s largest over-the-counter cryptocurrency exchange gets hacked just a few days later.

1. 30 November 2013 - 14 January 2015 — 86.9%

Bitcoin high price: $1,163

Bitcoin low price: $152.40

Number of days in correction: 410

Number of days until new high: 1181

Reason: China announces a ban on cryptocurrencies.

Sources: TradingView

Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.