1/ We've added bitcoin price data going back to July 2010: onchainfx.com/asset/bitcoin. Check it out on the chart, and in the price lookup tool. And now for some historical 'bubble' charts... ImageImage
2a/ This is bitcoin's biggest-ever bubble. $1 to $32 from April-June 2011. That's +3200% in 2 months. -94% from peak 5 months later. Image
2b/ Who remembers watching the MtGox price crash to a penny a few days after the high, due to the first big MtGox hack (1m BTC dumped, price to $0.01)? Check out recent @BitMEXResearch piece: blog.bitmex.com/the-june-2011-…
3a/ Here's the Spring 2013 ramp (notice "massive" 2011 bubble on the left). This one ran from $13 to an intraday high of $266 four months later for +2000%. -81% immediately after. Image
3b/ Breaking the 2011 high of $32 in late Feb setup the ramp to Apr-9 intraday $266 peak. Then Gox shutdown for a "cool down" period. Day's range on reopen was $50 - $150. This was the 2nd "Goxxing". Image
4a/ And here's the winter 2013 bubble (dwarfing spring 2013's +2000%). This was roughly $115 to $1163 in 3 months, peaking in late Nov 2013. -87% 1+yr later. Image
4b/ And of course, the 3rd "Goxxing", when MtGox declared bankruptcy on Feb 28th 2014. The bubble peaked 2mo prior, but Gox bankruptcy arguably destroyed sentiment for 2yrs. Image
5a/ Finally, here's the 2017 bubble. On the left, notice the peak of bitcoin's incredible 2013 full-year 100x run. Hard to see now :) Image
5b / The 2017 run was by far the longest duration, from a base around $1000 to a peak of ~$20k about a year later for +2000%. Subsequent low so far was -71%. Image
6/ So that's four bubbles of 1000% or more in the past 7 years. Remind us to revisit this thread in another 7 years :)

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with OnChainFX

OnChainFX Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!