• Sat. Jul 20th, 2024

13-Year-Long Journey of Bitcoin and ‘Santa Rally’ Cycle

Jan 5, 2023

Bitcoin since Inception till To Date

The departing year may not be so great considering the 13-year-long journey of Bitcoin to date.

Currently, there are no signs of Santa Rally appearing prior to year-end. Despite the fact that even in the past year Santa Rally did not happen, however, 2021 was the best year Bitcoin ever saw in its 13-year-long history.

November 2021 was the historical month when Bitcoin’s value surpassed US$69,000 but thereafter everything changed so quickly.

When 2022 began, Bitcoin started the year with a single coin value of $46,000. The price continues to decline enormously and as of today from 1st January 2022, it has declined by approximately 63%.

Bitcoin During 2019 to 2012

At the time of its inception in 2009, Bitcoin started trading at a price tag of $0.00764. At that time, this meant that against one US Dollar a buyer can get approximately 1,309.03 BTC units.

By mid-December, 2009, one dollar spending could get a person 1,630.33 BTC units.

2011 Marks the First ‘Santa Rally’

It took more than two years for Bitcoin to finally beat the dollar which happened in 2011. In the last month of 2011, a single unit of Bitcoin was trading hands at $2.97. In the same month, Santa Rally happened which increased Bitcoin’s value by more than 43.09% and the coin was trading at $4.25 per unit.

Similarly, on 1st December 2012, Bitcoin was trading at $12.57 and once again Santa Rally happened. This time the rally pushed Bitcoin to a price range of $13.45, reflecting a 7% increase because of the rally.

From 2013 to 2014 – No Santa Rallies

Then came the last month of 2013 and by that time Bitcoin was trading in triple figures and nearing four figures i.e. $955.85.

However, this time around, Santa Rally did not happen and, on the contrary, BTC’s value declined by 21.11%. So when Bitcoin entered 2014, it was trading at a reduced value of $754.01.

Lead cryptocurrency’s performance was however very poor in 2014 as it failed to make any difference. In 2014, instead of taking its price above, Bitcoin value saw its value sliced in half.

For instance, on 1st December 2014, Bitcoin’s market value was $320.19 which was otherwise $754.01 on the same day a year ago.

Back-to-Back Santa Rallies from 2015 to 2017

Thereafter from the years 2015 to 2017, there were three consecutive Santa Rallies. At the end of these three years, Bitcoin’s value surged by approximately 18.78%, 27.34%, and 28.98% respectively.

Most importantly, in between three years, i.e. from 1st December 2015 till 31st December 2017, Bitcoin’s value jumped from $362.49 to 14,156.40.

Bitcoin ended these three years at price levels of $362.49 in 2015, $963.74 in 2016, and $14,156.40 in 2017 respectively.

Years 2018 and 2019 Missed Out On Santa Rallies

The 2017 gains were however ripped off in 2018 and by 1st December 2018, Bitcoin was trading at $4,194.39.

The last day of 2018 approached and still, there were no signs of Santa Rally. However, the market turned bearish and Bitcoin’s value went as low as $3,740.23 by 31st December 2018.

So for two consecutive years namely 2018 and 2019, prior end-year periods were missing Santa Rallies and hence no gains.

The Santa Rally, which Bitcoin saw for the last time, came at the end of 2021 and perhaps it was the best of them all. At this time, the rally offered gains of up to 48%.

Best Ever Santa Rally of 2020

Bitcoin was trading at $18,876.77 on 1st December 2020 but on the 31st, it ended 2020 at a whooping value of $.28.994.35.

Considering the Santa Rally cycle in the past 13 years, it suggests that the years 2021 and 2022 would not see a rally.

There was no Santa Rally in 2021 in fact and even the present circumstances warrant that 2022 would also miss out on the rally.

Don't Miss Out On Bitcoin Evolution!

The Top Bitcoin and Cryptocurrency Price Prediction Software / Trading Robot

Sign Up

Try Crypto Engine With a Trusted Broker