A look at the Bitcoin chart shows that the coin bottoms higher, year after year. A look at the chart from 2012 illustrates this.
In 2012, the lowest price that BTC dropped to was $4. The following year, 2013, it dropped to a higher low of $13, a 69% increase in its low benchmark of 2012.
In 2014, Bitcoin also bottomed at a higher low of $306, a 96% increase from the previous year’s bottom price.
The Year of Lower Low – 2015
In 2015, the coin dropped to a lower low of $190, a 37% decrease from the bottom price of Bitcoin in 2014. 2015 was the first year that BTC dropped to a lower low since 2012 and the price of the asset has not bottomed at a lower low since that year.
Then in 2016, the price of Bitcoin bottomed at $360. In comparison with the previous year, it is a 47% increase. 2017 was a bullish year for BTC, the price of the asset bottomed at $779, a 54% increase from the low of 2016.
In 2018, the lowest price that BTC dropped to was $3237, this is a 76% increase from its bottom price in 2017.
In 2019, Bitcoin’s lowest price was $3,399. When compared to its low in the previous year, this is a 48% increase from the low of 2018.
In 2020, the Bitcoin low was $5,014, a 32% increase from the previous year’s low.
In 2021, Bitcoin bottomed at $28,723, an 83% increase from that of 2020.
Another Year of Lower Low – 2022
In 2022, with the bear market, it is not yet certain when the coin will find its lowest low of the year. However, it is already obviously another year of a lower low, when compared with the 2021. BTC has already dropped to $28,003, a 2.5% drop in its low of 2021.
Has BTC finally found its lowest low of 2022?
Judging from the 10-day moving average, BTC appears to be reversing trend. The coin may have found its bottom at $28,003. However, it is still too early to say so categorically. The Relative Strength Index (RSI) of 49 shows that BTC is not yet in the oversold region. This means that the bears could still bring bearish pressure to bear on the price.
Data available at Coinmarketcap shows that the coin is trading at $29,127.74, up by 0.45% in the past 24 hours. Other stats such as its 24 hour volume of $16.8 billion, which is 16 lower than the previous day doesn’t give much insight on the direction of the coin, considering that the lower volume could be the effect of the weekend.
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