In every bull market in the currency circle, there is a hot spot that drives the bull market.
At the beginning of 2017, the price of Bitcoin was around US$1,100. By the end of the year, it soared to US$19,000, an increase of 1,700%. The ICO hotspot at that time was quite crazy. Then due to policy reasons, the currency circle began to be cracked down, causing the price of Bitcoin to begin to plummet.
In 2018, we fell into a short-lived bear market. A BCH war plunged the currency circle into silence and caused trust issues. At the end of 2018, the price of Bitcoin plummeted to around US$3,600.
In 2019, three leading IEO hotspots emerged, and the story began to reach a climax again, with the price soaring to around US$13,000. Although it was not as good as the bull market in 2017, the growth rate during the year also exceeded 300%.
The 312 incident in 20 years can be said to be quite panic. Whether it is mining farms, investors, or even people in the chain industry, they almost lost hope in the market. However, since 312 plummeted to around $4,000, Bitcoin with 4-digit dollars has never been seen again.
In 2020, Binance began to build a currency ecosystem, the DEFI hotspot headed by BNB began, the bsc chain was born, decentralized trading officially began, and unisawp trading became popular, which greatly boosted market popularity, hundreds of times and thousands of times. Hundreds of thousands of times coins began to explode. The price of Bitcoin has only risen, never falling, from US$4,000 in 312 to US$4,000 in early 21, an increase of up to 1,000%
After a brief correction at the beginning of 21, it has been advancing rapidly. The DEFI ecosystem has reached a climax. Various exchanges have begun to promote their own ecology, such as OK chain, Huobi chain, GT chain, and of course Ether smart contracts. The market popularity has reached a climax, with Dogecoin. Based on the "zoo" full-scale outbreak.
At the end of 21, Bitcoin was pushed to a crazy level close to $70,000. Judging from the lowest level of $30,000 during the year, the increase was more than 200%. Subsequently, whether it was the impact of various policies or the capital withdrawal of some major firms, the price of BTC began to decline, all the way down to around US$16,000 at the end of 2022.
At the beginning of 2023, hot spots continued. Web3 content led by Ouyi became popular, and a new ecology was created using the BTC chain. Like NFT in 2003, casting inscriptions on the BTC chain became a new hot spot. BTC grew significantly and gas fees increased. Online miners made a lot of money, and the price of Bitcoin soared to 45,000 US dollars. Compared with the growth during the year, the increase also exceeded 200%.
