By the end of this year bitcoin will have 13 consecutive years of recorded market value under its belt. Seven of those years saw Santa rallies all the way up until New Year’s Eve, and five of the 13 years saw bearish returns from Dec. 1 to Dec. 31. There’s still six more days left until the end of 2022, but current market action seems to point toward negative returns this month.
2022 wasn’t the greatest year for bitcoin (BTC) in terms of market value measured in fiat. At the start of the year, BTC was trading for roughly $46K per unit and since then, the price has tumbled 63% since the first of Jan. 2022. According to records, the first recorded nominal value of bitcoin in U.S. dollars was on Oct. 5, 2009 and it was selling for $0.00764 per BTC on New Liberty Standard (NLS). At that rate, whoever was buying bitcoins at that time via NLS could get around 1,309.03 BTC for $1.
We cant really count 2009, as seeing gains during the last month of the year, as recorded prices are sporadic. However, records show on Dec. 17, 2009, one could get around 1,630.33 BTC for for a single greenback. On Dec. 28, 2009, NLS quotes are around 1,578.76 BTC for $1. In Dec. 2010, BTC’s price was much higher and on the first day of the month, BTC exchanged hands for $0.21 per coin. By Dec. 31, 2010, a single bitcoin was 42.85% higher at $0.30 per unit. Bitcoin would also see gains during the last month in 2011, and 2012.
In 2011, BTC traded for $2.97 per unit on Dec. 1, and thirty days later BTC exchanged hands for $4.25 or 43.09% higher. On Dec. 1, 2012, BTC changed hands for $12.57 per coin and by the end of the year, BTC was up 7% at $13.45 per unit. During the next two years, despite the bull run in 2013, BTC did not see Santa rallies. For instance, on Dec. 1, 2013, BTC was trading for $955.85 per coin and by Dec 31, it was 21.11% lower at $754.01 per unit.
2014 saw a 15.57% loss as BTC traded for $379.25 on Dec. 1, and found itself changing hands for $320.19 by the year’s end. The last month of 2015, 2016, and 2017 all saw Santa rallies. In 2015 on Dec. 1, bitcoin was trading for $362.49, but by the year’s end it jumped 18.78% higher as it exchanged hands for $430.57 per unit. Similarly, on Dec. 1, 2016, BTC was trading for $756.77 and by Dec. 31, it was up 27.34% and was swapping for $963.74 per coin.
BTC also saw gains in 2017 when it traded for $10,975.60 per coin on Dec. 1 and then ended the year 28.98% higher at $14,156.40 per BTC. History shows that three out of the four next Decembers saw negative returns. In 2018, BTC swapped for $4,194.39 on Dec. 1, and on Dec. 31, BTC was trading for $3,740.23 losing 10.82% in USD value. The next year on Dec. 1, 2019, bitcoin was trading for $7,449.52 and by the end of the year, it was down 3.13% and traded for $7,216.10 per unit.
2020 was the best bitcoin Santa rally ever recorded as BTC jumped 53% higher during the last month of the year. On Dec. 1, 2020, BTC swapped hands for $18,876.77 per coin and by the year’s end it was up to $28,994.35. At the end of 2021, BTC prices dropped during the last month, sliding 18.92% in USD value during the course of 30 days.
On Dec. 1, 2021, BTC was trading for $57,217.66 per unit and by the month’s end, BTC was down to $46,387.98 per coin. Last month, wasn’t the greatest for BTC as it was up above $20K per unit before FTX collapsed. That specific event sent shockwaves through not only the industry, but it caused crypto markets to drop considerably in fiat value as well.
As of right now on Dec. 25, 2022, it does not seem like a Santa rally is in the cards for bitcoiners but you never know how the year could end. Over the next week, BTC could jump 10% or more higher and end 2022’s dismal bear market with a bang. Or we just might see what we’ve seen during the past few weeks, which is a whole lot of lackluster movements, low volumes since the FTX aftermath subsided, and a great deal of consolidation.
What do you think about the last 13 years of bitcoin’s recorded value? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
By the end of this year bitcoin will have 13 consecutive years of recorded market value under its belt. Seven of those years saw Santa rallies all the way up until New Year’s Eve, and five of the 13 years saw bearish returns from Dec. 1 to Dec. 31. There’s still six more days left until the end of 2022, but current market action seems to point toward negative returns this month.
2022 wasn’t the greatest year for bitcoin (BTC) in terms of market value measured in fiat. At the start of the year, BTC was trading for roughly $46K per unit and since then, the price has tumbled 63% since the first of Jan. 2022. According to records, the first recorded nominal value of bitcoin in U.S. dollars was on Oct. 5, 2009 and it was selling for $0.00764 per BTC on New Liberty Standard (NLS). At that rate, whoever was buying bitcoins at that time via NLS could get around 1,309.03 BTC for $1.
We cant really count 2009, as seeing gains during the last month of the year, as recorded prices are sporadic. However, records show on Dec. 17, 2009, one could get around 1,630.33 BTC for for a single greenback. On Dec. 28, 2009, NLS quotes are around 1,578.76 BTC for $1. In Dec. 2010, BTC’s price was much higher and on the first day of the month, BTC exchanged hands for $0.21 per coin. By Dec. 31, 2010, a single bitcoin was 42.85% higher at $0.30 per unit. Bitcoin would also see gains during the last month in 2011, and 2012.
In 2011, BTC traded for $2.97 per unit on Dec. 1, and thirty days later BTC exchanged hands for $4.25 or 43.09% higher. On Dec. 1, 2012, BTC changed hands for $12.57 per coin and by the end of the year, BTC was up 7% at $13.45 per unit. During the next two years, despite the bull run in 2013, BTC did not see Santa rallies. For instance, on Dec. 1, 2013, BTC was trading for $955.85 per coin and by Dec 31, it was 21.11% lower at $754.01 per unit.
2014 saw a 15.57% loss as BTC traded for $379.25 on Dec. 1, and found itself changing hands for $320.19 by the year’s end. The last month of 2015, 2016, and 2017 all saw Santa rallies. In 2015 on Dec. 1, bitcoin was trading for $362.49, but by the year’s end it jumped 18.78% higher as it exchanged hands for $430.57 per unit. Similarly, on Dec. 1, 2016, BTC was trading for $756.77 and by Dec. 31, it was up 27.34% and was swapping for $963.74 per coin.
BTC also saw gains in 2017 when it traded for $10,975.60 per coin on Dec. 1 and then ended the year 28.98% higher at $14,156.40 per BTC. History shows that three out of the four next Decembers saw negative returns. In 2018, BTC swapped for $4,194.39 on Dec. 1, and on Dec. 31, BTC was trading for $3,740.23 losing 10.82% in USD value. The next year on Dec. 1, 2019, bitcoin was trading for $7,449.52 and by the end of the year, it was down 3.13% and traded for $7,216.10 per unit.
2020 was the best bitcoin Santa rally ever recorded as BTC jumped 53% higher during the last month of the year. On Dec. 1, 2020, BTC swapped hands for $18,876.77 per coin and by the year’s end it was up to $28,994.35. At the end of 2021, BTC prices dropped during the last month, sliding 18.92% in USD value during the course of 30 days.
On Dec. 1, 2021, BTC was trading for $57,217.66 per unit and by the month’s end, BTC was down to $46,387.98 per coin. Last month, wasn’t the greatest for BTC as it was up above $20K per unit before FTX collapsed. That specific event sent shockwaves through not only the industry, but it caused crypto markets to drop considerably in fiat value as well.
As of right now on Dec. 25, 2022, it does not seem like a Santa rally is in the cards for bitcoiners but you never know how the year could end. Over the next week, BTC could jump 10% or more higher and end 2022’s dismal bear market with a bang. Or we just might see what we’ve seen during the past few weeks, which is a whole lot of lackluster movements, low volumes since the FTX aftermath subsided, and a great deal of consolidation.
What do you think about the last 13 years of bitcoin’s recorded value? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current “Chief Twit” Elon Musk has said he is stepping down. In other news from this week, hedge fund manager Michael Burry — of “The Big Short” fame — said that audits of cryptocurrency exchanges like FTX and Binance are “meaningless.” Get caught up on these hot stories and much more just below in this latest issue of the Bitcoin.com News Week in Review.
Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. “The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive,” Musk clarified.
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According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. Congress that Joseph Bankman and “the family certainly received payments” from FTX.
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FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday according to a number of accounts that said SBF’s local attorney seemed to be in conflict with his U.S. legal team. Furthermore, courtroom reports noted that SBF dozed off for an extended period of time and had to be shaken awake by an official.
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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, says the problem with auditing cryptocurrency exchanges, like Binance and FTX, is the same as when he started using a new kind of credit default swap. “Our auditors were learning on the job,” he described, adding that it’s “not a good thing.”
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What are your thoughts on this past week’s hottest stories from Bitcoin.com News? Be sure to let us know in the comment section below.
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Image Credits: Shutterstock, Pixabay, Wiki Commons, Sorbis / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
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