According to data compiled for CNBC by CoinDesk Data, despite Bitcoin’s significant volatility, data analysis shows that the price fluctuations in Bitcoin’s past cycles indicate that the current price movements are all part of Bitcoin’s normal operating pattern. Additionally, after these fluctuations, there is often an entirely new phase of price rebound.
Reviewing Bitcoin’s performance this year, after dropping to a low of around $80,000 at the end of November, it rebounded. When Bitcoin briefly fell below $81,000, it had dropped about 36% compared to the historical high of around $126,000 in early October. According to data from Coinmetrics, as of Thursday, Bitcoin’s trading price rebounded to above $93,000, still down about 26% from its historical high.
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According to data compiled for CNBC by CoinDesk Data, despite Bitcoin’s significant volatility, data analysis shows that the price fluctuations in Bitcoin’s past cycles indicate that the current price movements are all part of Bitcoin’s normal operating pattern. Additionally, after these fluctuations, there is often an entirely new phase of price rebound.
Reviewing Bitcoin’s performance this year, after dropping to a low of around $80,000 at the end of November, it rebounded. When Bitcoin briefly fell below $81,000, it had dropped about 36% compared to the historical high of around $126,000 in early October. According to data from Coinmetrics, as of Thursday, Bitcoin’s trading price rebounded to above $93,000, still down about 26% from its historical high.