Bitcoin is the pioneer digital coin that paved the way for all the other cryptocurrencies and inspired plenty of them. Because Bitcoin has been in the crypto landscape for the longest period, it has gone through many ups and downs, which are called bull and bear markets. These markets refer to the periods when the prices rise or fall for an extended time. For each investor, it is essential to understand these two concepts, as they will directly impact the direction in which the prices are going.
In this article, we will focus on the bull runs of Bitcoin, where each has been unique and has reflected what happened in the world at that moment regarding the regulatory framework, blockchain technology, and changes in investor sentiment. Bitcoin could also experience bullish markets in the future, as the BTC value could increase and reach new highs. For example, the Bitcoin price prediction 2025 looks bullish, as the price of the crypto king could be around $ 68,705.73.
So, let’s quickly recap the bull runs that Bitcoin has gone through.
The First Signs Of Bull Run: 2010
Bitcoin experienced the first signs of bull runs in 2010, when its value changed from almost nothing to $0.08. During this period, Bitcoin made its first step into the world, and even though it was small, it led to the tremendous value that Bitcoin has reached today. Even though, at first, Bitcoin was attractive only to tech enthusiasts, this period marked a pivotal moment in its evolution that would later lead to widespread interest.
The 2010 market was an important moment because it established the foundational infrastructure of the crypto pioneer. This year, Bitcoin exchanges were established, where people could trade their BTC for fiat money, and the first transaction with Bitcoin for a physical product was made. Maybe you know that Laszlo Henyecz paid 10,000 BTC for two pizzas, which would now be worth around $3.8 billion. This transaction is a notable moment in the evolution of Bitcoin as the cryptocurrency went from being only a concept for tech enthusiasts to a worldwide phenomenon.
After this event, Bitcoin benefited from a slow but steady growth that laid all the foundation for moments when the price of BTC would soar.
Continuing The Growing Pattern: 2013
2013 also represented a good moment in the evolution of Bitcoin, as it was during then when BTC reached $260 in April and increased even more, having a value of $1,100 in November. At this time, Bitcoin started becoming more popular and drew the general public’s attention. 2013 was the year when Bitcoin matured and experienced increased media coverage, which made it the star of the financial landscape.
Additionally, because of all the positive characteristics of Bitcoin, the crypto king started to be more appealing, being seen as a safe haven asset. This was also when Bitcoin began to be considered in financially unstable regions.
Even if 2013 marked years of happiness, it also led to major challenges, showing the other side of the coin. This year, the Mt. Gox exchange collapsed, which proved that cryptocurrencies also present many risks. However, Bitcoin continued to recover and was adopted in numerous areas, which made it experience continuous growth.
Bitcoin was the first to introduce something new to the traditional financial landscape, which made people curious about the potential of this digital currency, as it could become a new form of money. Many individuals invested in this particular moment as they were intrigued by all the potential this cryptocurrency could bring. Also, 2013 marked a new stage for the evolving trends of Bitcoin, which experienced a lot of price fluctuations characterized by rapid growth followed by corrections, which are known under the names of bull and bear markets.
The Moment Bitcoin’s Price Skyrocketed: 2017
The bull run from 2017 marks a special moment for numerous people, as Bitcoin went from a value of $1,000 to almost $20,000.
The increased media attention, the ICO craze, and the interest of retail investors have fueled this tremendous growth. Additionally, during this moment, cryptocurrencies became a subject of discussion, which raised both criticism and appreciation.
2017 was an essential year for Bitcoin, as it expanded its user base, which wasn’t formed only by tech enthusiasts but also by people from the general public. The number of crypto exchanges has also increased, making Bitcoin easier to trade. This year also had the merit of preparing the stage for increased growth and the moment Bitcoin would be recognized as a legitimate asset class.
Bitcoin Experiences Institutional Adoption: 2020-2021
The growth of Bitcoin was also seen in the years 2020 and 2021, when BTC experienced a new all-time high of $64,000 in April 2021. One of the reasons that led to this tremendous price growth was the institutional adoption, which proved that Bitcoin was an asset that was here to stay. In this context, major corporations started allocating a part of their funds to this cryptocurrency because of all the advantages that crypto brought, including inflation hedge attributes, the potential for high returns, and the public’s acknowledgment that Bitcoin was a financial instrument.
Tesla and Microstrategy were a few companies that started investing in cryptocurrencies, which caused their prices to soar. Additionally, in 2021, when Bitcoin started to be seen as digital gold, it highlighted its benefits during moments of economic uncertainty.
The Bottom Line
The future also looks positive for the crypto king, as it will surely experience a bullish trend driven by all the events that will happen next. Even though few people expected Bitcoin to grow so much, the crypto pioneer managed to become a worldwide phenomenon, which paved the way for other altcoins to emerge.
