Top 10 Moments That Triggered Massive Bitcoin Price Surges in History

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by Satavisa Pati January 16, 2022 Top 10 Moments That Triggered Massive Bitcoin Price Surges in History

The first major cryptocurrency price increase occurred in 2010 when the value of a single bitcoin jumped from a fraction of a penny to $0.09. The cryptocurrency has undergone several rallies and crashes since it became available. Here are the top 10 moments that triggered massive Bitcoin price increases in history.

April 1, 2013, BTC price: 98.63 USD

Bitcoin breaks the US$100 barrier for the first time, but the panic selling causes the price to quickly drop to US$68 and then back up to US$228 in the second week of April.

November 20, 2013, BTC price: 567.35 USD

A Chinese government official by the name of Wang Yi announces that Chinese citizens can trade Bitcoin. The Financial Times reported that although Beijing has not officially given bitcoin its blessing, Yi’s statement meant that the Chinese government was content to let the market grow. The Bitcoin price broke the US$1,000 mark shortly after Yis’ announcement, hitting another all-time high of US$1,156.10 in December.

November 29, 2017, BTC price: 9,849 USD

John McAfee tweets a prediction that Bitcoin will hit US$1 million by 2020.

October 24, 2019, BTC price: 7,453 USD

In a surprising twist, Xi Jinping, the Chinese president, publicly declares his support for blockchain technology. At the time, some media outlets suggested that the change of heart was due to President Trump’s recent tweets criticizing cryptocurrencies.

September 29, 2020, BTC price: 10,767 USD

Twitter CEO Jack Dorsey publicly supports Bitcoin at the Oslo Freedom Forum: Blockchain and Bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node connected to it.

April 20, 2021, BTC price: 56,150 USD

Bill Miller, a revered Wall Street investor, said on CNBC that [Bitcoins] supply is growing by 2% per year and demand is growing faster. That’s all you need to know. He added later, I don’t think it’s a bubble at all, it’s the start of his integration.

September 7, 2021, BTC price: 49,776 USD

El Salvador becomes the first country to use Bitcoin as legal tender.

September 24, 2021, BTC price: 43,868 USD

China is cracking down further on Bitcoin by banning mining. It is currently unknown where the majority of Bitcoin mining will end up taking place.

October 15, 2021, BTC price: 59,499 USD

The United States Securities and Exchange Commission (SEC) approves Bitcoin futures ETFs for the first time in history, opening up cryptocurrency to the masses and allowing investors exposure to Bitcoin in an alternative form and more regulated.

November 10, 2021, BTC price: 68,742 USD

The price of bitcoin hit an all-time high, hitting US$68,742, as inflation data points to a three-decade high.

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