🔍📢 Bitcoin Price Over Years - Returns & Effect of Forks [Binance Report]

cryptobaro

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Turkish Translator

Quote from: pooya87 on August 20, 2019, 11:25:28 PM

Quote

From August 2017 to early 2018, Bitcoin’s blockchain split several times (i.e. hard fork), resulting in two coins, running on two separate blockchains.

the chart is misleading and this statement is absolutely wrong.
bitcoin's blockchain never split at all. it has been growing as always as a singular and immutable ledger.
what this is referring to is creation of copies. since bitcoin's both source code and blockchain are open and free to copy, lots of people during the 10 years have copied it and created their own altcoins none of them mean "splitting bitcoin's blockchain"!

as for the chart, it is misleading because it is ignoring the most important factor that is inside the line it draws on it and calls them "BCH and BTG".
that line coincides with the end of a debate that was going on for at least 3 years called "scaling debate" that had damaged bitcoin a lot and had prevented the growth for a long time. when it finally came to an end in August 2017 with activation of SegWit, the confidence came back to the market and investors started buying bitcoin and that was the reason why the price went up.
if anything the dozens of garbage fork coins such as BTG, BCH, BPrivate, BSilver,... prevented and slowed down the rise by a lot.

hello mate, thank you for the explanation.

actually it is a binance report where I got these info from, here: https://info.binance.com/en/research/marketresearch/portfolio-1.html

with the info you gave, people can understand those changes better.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote

From August 2017 to early 2018, Bitcoin’s blockchain split several times (i.e. hard fork), resulting in two coins, running on two separate blockchains.

the chart is misleading and this statement is absolutely wrong.
bitcoin's blockchain never split at all. it has been growing as always as a singular and immutable ledger.
what this is referring to is creation of copies. since bitcoin's both source code and blockchain are open and free to copy, lots of people during the 10 years have copied it and created their own altcoins none of them mean "splitting bitcoin's blockchain"!

as for the chart, it is misleading because it is ignoring the most important factor that is inside the line it draws on it and calls them "BCH and BTG".
that line coincides with the end of a debate that was going on for at least 3 years called "scaling debate" that had damaged bitcoin a lot and had prevented the growth for a long time. when it finally came to an end in August 2017 with activation of SegWit, the confidence came back to the market and investors started buying bitcoin and that was the reason why the price went up.
if anything the dozens of garbage fork coins such as BTG, BCH, BPrivate, BSilver,... prevented and slowed down the rise by a lot.

yesyes18

member

Activity: 546

Merit: 12

So the bottom line lesson for all of us; if you're really wanting to get in, then you have to be in for the long term because it pays to wait for Bitcoin to grow. Statistics don't lie so yeah, being an advocate for a long time will be worth it.

archipelago

jr. member

Activity: 124

Merit: 6

some people are telling that april 2020 is a key date for btc and it will get up to maybe 50k, is that also because there will be a fork or not?

i see forks effected positively

cryptobaro

full member

Activity: 1120

Merit: 200

Turkish Translator

Without surprise, Bitcoin exhibited extremely large price changes across the years as its price moved from less than 1 USD to as high as USD 20,000.

Calendar returns of Bitcoin (BTC) in US dollars

In the table above, hard forks resulting in new chains were purposely excluded in the computation, but these new coins could have provided non-negligible sources of positive extra-return for passive investors.

Price of Bitcoin in USD (2010-2015)

Bitcoin price exhibited wild fluctuations between its first reference price on an exchange and December 2015 with a peak in the price above 1,000 USD.

Following MtGox’s bankruptcy, Bitcoin price declined to reach a bottom of around 300 USD in 2015. Despite these fluctuations, Bitcoin’s hashrate reached 1 exahash/sec for the first time in December 2015, signaling a very strong interest by miners.

Price of Bitcoin in USD (2016-2019) with major two forks

While the price of Bitcoin remained around USD 1,000-2,000 until early 2017, the second half of 2017 saw Bitcoin reaching new highs with a sharp increase in late 2017 to reach an all-time high slightly below USD 20,000. After that, its price collapsed to USD 3,500 in late 2018.

Since the beginning of 2019, Bitcoin price has rebounded to price levels near USD 10,000.

From August 2017 to early 2018, Bitcoin’s blockchain split several times (i.e. hard fork), resulting in two coins, running on two separate blockchains.

Notably, Bitcoin Cash (BCH) was forked on August 1st 2017 due to a community disagreement regarding the maximum block size. It is one of the hard-forks that would have generated a potentially large source of additional return.

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