Bitcoin (BTC), the world’s first decentralized digital currency and the largest cryptocurrency in terms of market capitalization, has only spent a short time above its bullish price level in its entire history. Its price approached $ 20,000 just once in December 2017 when it hit its all-time high. It closed just one day above its all-time high, historical data shows.
Bitcoin rose above the key price level of $ 16,000 on November 13th. However, according to historical data from a Twitter user named Soona, Bitcoin has only spent a fortnight above this price point in its entire history. This corresponds to 0.32 percent of its entire service life. Bitcoin’s price, on the other hand, closed above the $ 15,000 mark for only nineteen days (0.44 percent of the life of Bitcoin) during the coin’s entire history.
The number of days that Bitcoin is above the price levels of USD 15,000 and USD 18,000 is even lower, as the BTC price is only six (0.44 percent of the BTC lifespan) or three days (0 , 07% of the BTC lifespan) could exist above these levels. On the flip side, when we talk about Bitcoin’s price closing above its all-time high, there is only one closing price above that number. It only makes up 0.02 percent of Bitcoin’s life.
According to the historical data, Bitcoin’s price value has spent over $ 10,000 for most of the days, known as its psychological price level. Bitcoin stayed above that number for 271 days. This corresponds to 6.26 percent of the total life of Bitcoin, as the following graphic shows:
Interestingly, since its inception in 2009, Bitcoin’s price has exceeded the $ 13,000 level only three times.
Bitcoin holders, on the other hand, have been pulling their BTC off the cryptocurrency exchanges throughout the year. On the part of the crypto exchanges, a record-breaking negative inflow was noted this year, as around 500,000 BTC have left the exchanges so far this year. In November alone, Bitcoin holders withdrew $ 1.3 billion worth of Bitcoin from digital currency exchanges within just thirteen days of Bitcoin’s price spike above the $ 15,000 mark.