2014 Vs 2018 Bitcoin Price Recovery: This Year Will Possibly Be Shorter
Quartz issued a chart relating the mid-term price movement of bitcoin in 2014 and 2018, and according to the pattern of bitcoin from December of 2017 to June of this year, the recovery bitcoin is presently going through could be likely shorter than its recovery in 2014.
From December 4, 2013, to January 4, 2015, in a 400-day period, the bitcoin price declined to more than 80 percent, marking the worst recovery in its history. The mid-term drop in the bitcoin price was lengthened by a four-month period during which bitcoin recovered to its prior support level and was above the level before declining by over 80 percent.
In 2014, it took bitcoin 300 days to decline by over 79 percent. In 2018, it took bitcoin less than 200 days to drop over 72 percent different to its correction in 2014. Bitcoin is declining much faster compared to four years ago.
If the price chart of bitcoin year-to-date is likened with the price chart of bitcoin from December 2013, to January 2015, with the chart of bitcoin from 2013 to 2015 crushed, the price movement of bitcoin was almost similar to its price movement in 2014 with only one difference: speed.
