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Looking at yearly lows, Bitcoin may not be performing that badly after all

When looking at yearly lows, the growth in the asset value of Bitcoin is making slow but steady progress

Over the past seven years, the asset value of the BTC token has continued to make progress in terms of yearly lows.

Bitcoin Yearly Lows. Interesting from Bitcoin

In 2018, the yearly low of Bitcoin held at $3,200, which represented quite an increase from the previous yearly lows (mapped out over the last seven years). In that time, we have seen BTC yearly low prices trade between $4 and $780 between 2012 and 2017.

Yearly lows at the end of the year are normally uncommon

In an interesting find, when mapping out the yearly lows, it’s noticeable that lows tended to take place at the beginning or the middle of the year. This was, of course, except for 2018, when we did not see an end-of-year rally for the asset class and it instead fell lower.

Some Reddit users (like u/clarinetJWD) don’t see this as much of a metric and would much prefer to measure the success of the industry in terms of the stability and the prevalence of BTC’s actual use as currency.

Another Reddit user “agreed that the market is growing.” However, BinaryBeeBop did also offer a word of caution by saying that “without a strong use case for the currency, its growth should slow or stop.”

“That’s why I think there should be more emphasis on market data on transactions outside of trading to prove future potential more accurately.”

Spending Bitcoin twice a month

Another Reddit user commented to say that they spend “BTC fairly frequently, at least compared to your average crypto user.”

He went on to say: “Usually, I find something that I want to purchase that accepts crypto once or twice per month. I think bear markets are the best time to use it as currency, as I’ll typically replenish what I spent at a lower price than I purchased.”

 

 

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