Bitcoin has seen its ups and downs over the years, and its price on Halloween is reflective of the wild ride cryptocurrencies have been on. Let's look back at Bitcoin's price on Halloween over the past decade.
2014 - $336
After a quiet 2013, Bitcoin started gaining traction in 2014. The price surpassed $1,000 for the first time in January and continued rising through the year. By Halloween 2014, Bitcoin was trading at around $336, down from its peak of over $650 earlier in the year but still up significantly from 2013. The growing adoption and awareness of cryptocurrencies were driving prices upward.
2015 - $319
In 2015 the price on Halloween had dipped slightly to $319 as Bitcoin struggled to sustain the momentum from its rapid price surge in 2013-2014. Several factors contributed including the collapse of the Mt. Gox exchange and increased government regulation and scrutiny. However, investment and development in the cryptocurrency space continued.
2016 - $705
By Halloween 2016, Bitcoin was back on the uptick, trading at $705 per coin. Over the years, Bitcoin benefited from further adoption and more mainstream awareness. Major events in 2016 included the second halving event which reduced the Bitcoin mining reward and the debut of Zcash, a new privacy-focused cryptocurrency.
2017 - $6,447
2017 was when things took off. Bitcoin began the year worth less than $1,000 but dramatically rose over the next 12 months. By Halloween 2017, Bitcoin hit a new high of $6,447 amidst heavy media coverage and surging investor interest. This parabolic rise was fueled by the ICO boom, the establishment of cryptocurrency exchanges, and countries like Japan recognizing Bitcoin as a legal tender.
2018 - $6,320
In 2018 the price remained high, trading near $6,320 on Halloween. However, Bitcoin and other cryptocurrencies spent the latter part of 2018 sliding into a prolonged bear market. Contributing factors included increased regulatory crackdowns and declining mainstream interest. While still trading higher than the year before, the dizzying growth of 2017 was gone. By the end of 2018, Bitcoin had lost nearly 80% of its value, falling from $280 billion to $56 billion.
2019 - $9,170
By Halloween 2019, Bitcoin was amid a modest recovery, trading around the $9,170 level. Cryptocurrency prices bounced back after bottoming out in early 2019 but had not yet reached the fever pitch of late 2017. Incremental progress continued in areas like adoption and regulation, helping stabilize Bitcoin's price.
2020 - $13,750
On October 31, 2020, Bitcoin closed for $13,750 per coin. 2020 saw Bitcoin gradually appreciate throughout the ongoing COVID-19 pandemic. Various global economic factors like inflation fears and unstable markets helped boost interest in cryptocurrency as an alternative to traditional investments.
2021 - $63,000
Bitcoin reached another new all-time high on Halloween 2021 as it traded above $63,000. The price increased nearly 10x'd within two years as cryptocurrencies were in mainstream finance and major companies and investors jumped aboard. With rising inflation and economic uncertainty on the horizon at the end of 2021, more people turned to Bitcoin as a hedge.
2022 - $20,500
After peaking in late 2021, the price of Bitcoin has since cooled off, trading around the $20,500 level on Halloween. High inflation and aggressive monetary policy tightening created headwinds in 2022. However, many cryptocurrency supporters view this as a period of accumulation and remain bullish on Bitcoin's long-term trajectory.
2023 - $34,494
The price of Bitcoin on Halloween 2023 is $34,494. This represents a significant bounce back from the previous year's $20,500 level but is still below the all-time highs seen in late 2021. While lower than historic peaks, the 2023 price shows Bitcoin's continued resilience and role as a long-term store of value. If 2022 was a period of accumulation for Bitcoin, 2023 saw it pay off for those who held on.
From humble beginnings in 2014 to hitting staggering new highs and weathering crashes along the way, Bitcoin has proven to be volatile yet resilient. There are sure to be more thrills and spills along the way, but Bitcoin’s price each Halloween provides a fun waypoint to look back on where it has been and where it may be headed. Need help with anything crypto? Book a session with our experts at CryptoConsultz.