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December 3 2018

We’re not concerned about Bitcoin’s most recent price plummet, says CoinCorner

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CoinCorner’s co-founder and CEO, Danny Scott, says: “If we look back over Bitcoin’s short 10-year history, it has experienced many price fluctuations – something that is to be expected given that the industry is still very young.

It’s widely known that Bitcoin has allegedly “died” more than 300 times to date (source: 99Bitcoins). This ‘death’ refers to predictions from critics that bitcoin won’t survive the changing price movements… yet it hasn’t died on any of those occasions and, instead, has continued to gain mass adoption.

“There have been a number of sizeable price movements over the years which have typically gone unnoticed by anyone except those within the industry. For example, in 2013 we saw the price drop 49.88% in just 14 days, which is a bigger drop than the one we have experienced over these last two weeks.

By looking at Bitcoin’s historical price movements, we can all clearly see that price movements such as the most recent in November, are nothing out of the ordinary for the Bitcoin industry. It isn’t something we are concerned about at CoinCorner”.

START DATE   PRICE END DATE PRICE MOVEMENTS
30/10/2013 $194.55 30/11/2013 $1124.76 +478.1%

(in 32 days)
05/12/2013 $1042.03 18/12/2013 $522.23 -49.88%

(in 14 days)
18/12/2013 $522.23 06/01/2014 $951.39 +82.17%

(in 20 days)
10/04/2014 $360.84 04/06/2014 $636.78 +76.47%

(in 56 days)
08/01/2015 $283.25 14/01/2015 $177.28 -37.41%

(in 7 days)
23/05/2016 $443.73 19/06/2016 $764.04 +72.18%

(in 28 days)
16/11/2017 $7843.94 16/12/2017 $19,343.04 +146.59%

(in 31 days)
12/11/2018 $6356.02 27/11/2018 $3800.20 -40.21%

(in 16 days)

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