📍 2021.
In mid-January, 1 BTC was worth $40,700. On February 20, the price reached $57,600, and on March 13, it reached $61,100.
Bitcoin tested its record on April 13 at $63,600.
In November, the world saw bitcoin once again break the value record.
On November 9, one coin was bought for $68.3 thousand, and the next day the rate of the cryptocurrency broke the mark of $69 thousand. After that bitcoin value decreased slightly and by November 15 it was trading at $65.8 thousand.
Later, bitcoin rate was also affected by other events, for example, new restrictions in China, which were introduced in May: banks and payment systems were prohibited to provide services with cryptocurrencies, bans for miners and traders. Another important event for bitcoin occurred in 2021 – for the first time, the U.S. Securities and Exchange Commission (SEC) allowed the first cryptocurrency-based fund to be traded on traditional exchanges.
📍 2022.
The first collapse occurred amid news of protests in Kazakhstan (the world’s second-largest BTC producer). Then the value of bitcoin fell to $42 thousand.
Also, the bitcoin collapse was influenced by the U.S. Federal Reserve Board (Fed) meeting. At the beginning of January, it became known that the U.S. regulator plans to increase interest rates and reduce the country’s central bank balance sheet. The value of bitcoin fell to $40 thousand.
The next major collapse occurred on January 22. The value of the first major currency fell below $36 thousand, at the moment it reached the mark of $34.5 thousand.
In February, the value of the main cryptocurrency was rising above $45 thousand, and then fell back to $35 thousand against the background of the geopolitical deterioration.
The turning point came on March 22, when bitcoin went up. At the peak on March 28, the value of the coin almost reached the mark of $48 thousand for the first time since the beginning of January. In April, the price corrected slightly, but bitcoin is still trading above $42k.
In April, the price of bitcoin kept between $36 thousand and $47 thousand. In May, the value of the first cryptocurrency began to decline sharply.
On May 11, bitcoin reached $28 thousand, then the price fell even lower – to $19 thousand.
One of the strongest collapses occurred on June 18.
Bitcoin was up to $17K at the moment. That day the cryptocurrency market lost about $800B from its capitalization.
The main reason for the fall is inflation in the U.S., which rose to 8.6% in May. Against this background, the Federal Reserve raised interest rates.
The second reason for the collapse of BTC and the rest of the crypto market is the increased distrust of digital assets due to the collapse of Luna and TerraUSD.
