Summary
- An analysis found that Bitcoin (BTC) faced skepticism even in its early days, but later overcame it with a rally.
- Bitcoin first rose above $1 in February 2011, then fell to $0.80 in March, fueling forecasts that it would not recover that level.
- Bitcoin climbed back above $1 on April 14 and ended the month at $3.44, posting a 335%% monthly gain as volatility and skepticism continued to recur even in the early market.
Forecast Trend Report by Period
Bitcoin (BTC) faced skepticism in its early days but later overcame it through a sharp rebound, according to an analysis of its past price moves.
Crypto media outlet U.Today reported on April 13 that Bitcoin first rose above $1 in February 2011.
It then underwent a correction in March, falling to about $0.80. At the time, some in the market argued that Bitcoin would fail to reclaim $1.
Bitcoin moved back above $1 on April 14, about a month later. It kept climbing and ended the month at $3.44.
That amounted to a monthly gain of about 335%. The analysis underscored that volatility and skepticism were recurring features even in Bitcoin's early trading history.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
