Bitcoin made the news in May when it passed the all-time high of $2,700 per unit, before swallowing a sharp correction and losing almost 30 percent of its value in 48 hours. Along the way, many other cryptocurrencies such as Ethereum, Litecoin, Dash, Ripple and Monero have followed Bitcoin in its correction.
This scenario naturally leads us to think about the last quarter of 2013, when
Bitcoin price jumped from $130 to over $1100. After this boom, we didn’t see a sharp correction, but a long and steady decline to the unit price of $200, followed by a long and steady increase period.