Bitcoin price broke through $7,500 for the first time on November 16, 2017
At the end of 2013, with the ban of the Central Bank of China, the exchange was closed on a large scale. Bitcoin prices have fallen sharply to around $500, and the bear market has continued for two years. Therefore, I cleared all the altcoins in the exchange, leaving only the bitcoin in the cold wallet, ready to welcome the winter again. However, the imaginary winter has not yet arrived. On November 16th, the price of bitcoin skyrocketed one day, directly penetrating the $7,500 mark, but investors remained pessimistic.
On February 5, 2018, bitcoin prices fell below $7,500 for the first time.
After 40 days, Bitcoin began to fall sharply from $19,000. The $13,000 and $11,000 levels have fallen in succession. On February 4th, Bitcoin barely held at $8,000. However, as the three major US banks (Bank of America, JPMorgan Chase and Citibank) announced the ban on the use of credit cards to buy bitcoin, Bitcoin was directly reduced from $8,100 to $6,800 in just one day.
On July 20, 2018, bitcoin prices returned to $7,500 again.
This may be the eighth time Bitcoin touched $7,500. In the six months that Bitcoin fell below $7,500 for the first time, Bitcoin repeatedly floated between $6,000 and $10,000. However, the price of Bitcoin still failed to compete with the bear market. After failing to hit the resistance level of 10,000 US dollars on May 6, it began a long decline. Until July 17, along with a number of positive news, Bitcoin increased its volume and broke through the $7,000 mark in one fell swoop, returning to $7,500 again.
Some people think that the good news is that the Bitcoin ETF is under review. Some people think that coinbase supports bitcoin.
We have seen more and more uses and possibilities of blockchains. We have also seen that there are constant patterns and gameplays being eliminated, investors are becoming more rational, and regulatory authorities are increasingly recognized. Although the development of future trends is still unpredictable, I believe that in the future, bitcoin will fall back to 7,500 knives and will become less and less, and the blockchain will truly land and explode for the benefit of human society.