Annual lows bitcoin price are getting higher

Annual lows bitcoin price are getting higher

Bitcoin owners and investors are more than happy to boast about the highlights of the price. And rightly so, that is one way to convince people that bitcoin is a good investment. But the annual lows are also a good argument in that regard. In every year since the launch of bitcoin ten years ago, the annual lows are constantly rising.

The only exception is 2015, when the bitcoin rate at the lowest point was 15 dollars lower than in 2014. That was more than compensated for the following year, as you can see below.

#Bitcoin yearly lows are more interesting than the highs. These are the levels guarded by the true HODLers.

2010 – $ 0.01
2011 – $ 0.30
2012 – $ 4
2013 – $ 65
2014 – $ 200
2015 – $ 185
2016 – $ 365
2017 – $ 780
2018 – $ 3200
2019 – $ 3,350?
2020 – $ 7,500?
2021 – ??

– The Moon (@themooncarl) December 9, 2019

In some years, the annual low of the bitcoin rate even doubled! For example, in 2018 the low point was 3,200 dollars. That is four times as much as the low of 2017, which was then 780 dollars.

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What does this mean?

The higher lows per year can mean that long-term HODL employees use a good strategy. They are waiting for the right moments to buy bitcoins, namely with a falling price.

You could even argue that the price is becoming less sensitive for investors who want to manipulate the market. The so-called whales that use pump and dump-like strategies. Even Peter Schiff, known for his criticism of bitcoin, acknowledges that short-term gains are becoming increasingly difficult.

Bitcoin pump & dumpers are losing their mojo. They managed to pump the price by $ 550 in one minute, a 7.5% spike. Yet the dump reversed the entire pump with an 8% drop in just 7.5 hours. If #Bitcoin pumpers can no longer sucker in new buyers the game is over. Look out below!

– Peter Schiff (@PeterSchiff) December 4, 2019

Schiff writes that it is becoming increasingly difficult for whales to quickly pump and dump (manipulate price up and sell at peak). He thinks that fewer and fewer investors are going along with short-term thinking, there are simply no more buyers found.

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Whether that is true is not clear. The figures seem to agree with him somewhat. Most pump and dump whales and groups prefer to use cryptocurrencys that are easier to manipulate. Think of cryptocurrencys with a low market cap (ahum Matic).

2019 and beyond

It does not seem as if the low point of 2019 could be lowered this year. Below you can also see that the low point of 2019 soon came after the low point of 2018. After the growth in April, the rate has not even come close to 3,400 dollars.

The expectation for bitcoin in 2020 is that due to the coming block halving, the price will only rise. That is also the reason why TheMoon dares to tweet so optimistically that the 2020 low will be $ 7,500.

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