Follow the bouncing Bitcoin
I only found out it was a game when researching this story.
However, it isn’t about the game—although it sounds interesting (and maybe even educational).
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The bouncing Bitcoin reviews the king of Crypto’s rebounds from previous lows (a.k.a. floors).
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According to BankRate, (the Bank Rate Monitor, a financial publication since 1976) Bitcoin traded for $109.60 on August 13, 2013.
Using that as the baseline, its first bounce took place in December of the same year, when it hit $1,106.30. Three days later, it found the floor at $541.
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The next bounce occurred on January 2, 2014, when Bitcoin traded flat at its new high of $856.90 before plummeting to $111.60 by February 20214.
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For the next two years, small, steady dribbles took place, with $300-$400 short bounces occurring along the way.
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By May 2016, Bitcoin was tickling $500 as each little bounce inched the number one crypto slightly higher. That trend continued until December 2016, when it bounced to over $900 ($971.10).
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In January 2017, it found a new floor at $785.40, when it bounced again to $1,189.30 in late February. ?
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The short bounce pattern took the court until May of that year, posting small increases. However, Bitcoin took off on a Michael Jordan run over $2,700 by mid-June. A few small bounces occurred before a new floor crashed the party in mid-July 2017.
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Bitcoin fell to $1914.10
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A brief recap
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August 2013 Bitcoin trades at $109.60.
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December 2013 Bitcoin trades at $1,106.30.
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Three days later, Bitcoin traded at $541.
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January 2014 Bitcoin trades at $856.90.
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February 2014 Bitcoin trades at $111.60.
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In May 2016, Bitcoin traded for around $500
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December 2016 Bitcoin trades at $971.10.
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January 2017 Bitcoin trades at $785.40.
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June 2017 Bitcoin trades at $2,700.
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July 2017 Bitcoin trades at $1,914.10.
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Can you see the pattern?
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Bitcoin finds a floor, followed by a bounce—some big, small, and huge. It trades flat (little movement up or down) before finding a new floor, and the cycle begins again.
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In August 2017, Crypto’s digital gold shined bright, trading at $4,735.10. But it found a new floor at $3,869.60 in September.
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Then, the fun began.
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Bitcoin slipped into its Air Jordans and leaped to $7,444.40 by November. However, three days later, it found a new floor at $6,339.90.
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By December 18, 2017, Bitcoin was on top of the world, trading at $18,972.30.
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(More than a few millionaires made that month.)
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By the close of 2017, Bitcoin found a new floor at $13,850.40
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The Bitcoin Cliff
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The excitement of 2017 gave way to the crash of 2018. By the end of January, Bitcoin had fallen to $10,166. It would be February 5, 2018, before it found its newest floor at $6,938.50.
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The pattern continued as Bitcoin bounced above $10,000 two weeks later. Three days later, it hit a new floor of $9,704.30, which led to another bounce to $11,330.60 on March 5, 2018.
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A new floor was found in April as Bitcoin continued falling to $6,782 before bouncing back to $9,853.60 three days later.
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By the end of June, it was back around $6,000 (a new low) before bouncing to $8,100 by the end of July.
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Bitcoin continued the same pattern through August before settling around $6,600 and trading sideways into November.
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But then it happened.
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By December 2018, the king of Crypto was acting more like a wounded pawn, as it found its lowest floor of the year, trading just over $3,200. It traded sideways for most of Q1 (first quarter) 2019 before bouncing back into familiar territory.
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Bitcoin crossed the $5,000 mark in April and continued its floor/bounce pattern until it reached $12,409.20 on June 28, 2019.
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It began a downward bounce until it crossed the $5,000 mark in March 2020, reaching $4,826.
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By May, it bounced to $9,608.20 before finding a new floor of $9,100 in July. That was followed by another bounce to $11,845.30 in August and another floor to $10,000 in September.
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November 2020 saw the king of Crypto bounce to $19,698.10, followed by a new December floor of $18,000.
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December 2020 ended on a high bounce to $28,868.70, but the upward bounce wasn’t over, as January 2021 saw Bitcoin reach $49,599.30. (That was quite a bounce)
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The pattern continued as it found a new floor in mid-January of $30,000.
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Bitcoin once again doubled in April, reaching $63,215, only to find the $30,000 floor by July.
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By September, it bounced to $51,758, then to $66,904 in November, before ending the year at $43,738.
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Crypto’s Siberian Winter
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In 2022, the Crypto Siberian winter hit hard, crashing the Crypto market and taking Bitcoin to lows it had not seen since Q4 (fourth quarter) 2020.
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Even during the challenging extended bear market (consistent low-ball trading), the pattern remained intact. It hit a (considerably lower) high before finding a (considerably lower) low.
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By June 2022, Bitcoin’s floor reached $18,978, followed by a short upward bounce; it fell to $19,279 in September.
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Bitcoin closed out 2022 at $16,636.
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If you were in the cryptoverse at that time, you recall being impatiently waiting for some sign that winter was giving way to spring.
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Crypto’s spring flowers began pushing through the snow-covered ground in 2023 as Bitcoin bounced upward into the $20,000 area.
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By the end of Q1 (the first quarter), Bitcoin was in the solid $20,000 range at $27,262.20.
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It hit $30,000 by April only to retreat to $26,000 in May.
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In June, it hit $30,000 and traded sideways, climbing some and falling some, until it returned to the upper $20,000 range in August.
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A renewed energy took the court in October 2023 as Crypto’s digital gold began another look range upward bounce.
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Bitcoin entered October trading at $26,000, ending the month at $34,082.60. But the bounce wasn’t over.
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December 2023 ended with Bitcoin sitting at $42,163, but only after it briefly crossed $43,000.
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In 2024, Bitcoin and the cryptoverse have seen new highs, beginnings, and victories.
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In March, Bitcoin crossed $71,000, thanks (in part) to another “new” Bitcoin spot ETF (Exchange Traded Funds), which was launched in January. Ethereum’s spot ETF followed in July.
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The Supreme Court’s June ruling reversing the Chevron deference represents a new era in legal action against the cryptoverse and (hopefully) the easing of attacks by Gary Gensler and the SEC (Securities Exchange and Commission).
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Why it matters
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The Bitcoin pattern remains consistent throughout its trading history.
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Do not forget that 15 years ago, computer engineers were kicking around this obscure digital asset idea, and today, a $2+ trillion industry is flourishing.
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Remember that Bitcoin (and the Cryptoverse) is a highly volatile investment subject to vast swings up and down.
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You must understand that Cryptoverse has struck a chord with the financial and investment world and will only get bigger.
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Aaron Malone of Crypto 101 recently wrote,
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“Bitcoin saw a strong bounce off of $53,000, which was the high of the previous consolidation zone in late February. As of Monday night, Bitcoin has managed to break through its 20, 50, and 200 daily moving average (DMA). This strength indicates that the buyers are comfortable buying Bitcoin around the 200DMA. This again parallels what we saw last summer when Bitcoin moved sideways for several months before breaking the 200DMA, only to rally to new highs afterward. “
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The total market capitalization of the cryptoverse is currently $2.53T (trillion), with Bitcoin holding $1.28T
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Like the Bitcoin pattern, these numbers have bounced up and down but consistently remain above $2T.
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The cryptoverse is a wise investment.
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How it impacts everyday people
The cryptoverse is not the end-all, cure-all solution to financial freedom, but a reality that is not going away.
It is moving towards mainstream adoption and will impact all of humanity. This means the change that is coming will impact you.
It will take work and a willingness to change, but it will help everyday people find a better life once it is embraced.
It is not the holy grail of independent wealth, but it can (and should) be part of the strategy.
It is part of the future global economic landscape and must be something you are familiar with. ?
Education is critical, and intelligent investing is paramount for everyday people to navigate these bumpy roads.
The thought of change often scares everyday people back into old, comfortable living patterns. There is nothing comfortable about being uncomfortable.
However, IF change is to occur, you must weigh the length of your uncomfortableness against the lifetime of enjoyment.
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In other words, is it worth the temporary discomfort to avoid a lifetime of complacency and lack?
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If your answer is YES, you can follow along and learn how to make a change by being educated in the cryptoverse.
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I am committed to the cryptoverse, which offers a path to help you change and find financial freedom.
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Investing in any of the various segments of the cryptoverse (Currency, DeFi, gaming, NFT, Metaverse, or Web3) can provide you the opportunity for financial freedom, but it takes a plan.
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Disclaimer: I am not a financial planner, and therefore do not offer financial advice. I am an avid student of the cryptoverse who is willing to make the things I learn available to everyday people willing to take a chance, change, and explore your financial freedom in the cryptoverse.