If you have been taking note of the market these past few days, you will realize that, the price of Bitcoin has been on a steady increase as it head towards $50k. Today on the 28th of March, BTC hits a peice level of $47k for the first time since 2022. After struggling throughout the past months around $33k and $41k, it has finally take the lead for a hopeful uptrend.
We decided to take a walk back to history and see some of the past price trend of BTC on this particular day in the past years. Then we will try to analyze what this day of March really means for the Bitcoin community.
- 27th of March 2016: on this day, the price of BTC was at $426, with a total Market cap of $6.5billion and still the number coin in the market.
- 27th of March 2017: The following year, BTC price rose to $966 with a Market cap of $15.6billion. This sure sees some wide adoption of crypto during the year.
- 27th of March 2018: As we move ahead, we saw a price of about $8k with a Market cap of $143billion. During this period, many people started getting involved in BTC but the panic was still there and also some FOMO.
- 27 of March 2019: As the year goes by, with different FUD and other cryptocurrencies making their way into the market, BTC saw a price of dropped down to a price of $4k and a Market cap of $72billion. Lots of fear was beginning to take course in the community but also a lots of confusion on whether to enter the market or leave.
- 27th of March 2020: here we started seeing some increase to $6k and a market cap of $124billion. Within this period, many people start getting back into the market and crypto education was spreading around the word at a wide speed. Blockchain was developing with more use cases and different cryptocurrencies were emerging and also, the economy was becoming unstable as inflation and political tension increases, people start looking for save heavens for their money.
- 27th of March 2021: It will surprise you to know that on this day, the price of Bitcoin was at $55k. Yes.. you heard me, $55k with a market cap of about $1Trillion. Around this period, many people were struggling to get into crypto and wide adoption was being seeing all around the world as people tried to take advantage of the price spike to make profit, while others gamble, others invested with caution and others were still afraid and saying it’s just a bubble and so, many FUDs arise in the market but we saw institutional adoption of Bitcoin on the rise like Tesla, and other major companies.
- 27th of March 2022: As of today the 27th of March this year, BTC is at $46k at the time of writing, with a market cap of $800billion. After Bitcoin saw an All time hight of about $66k, it start going down after many people have FOMO, while others gamble and with greed, many lose money as they tend to sell off because of fear. The price dropped down to about $30k and since the year began, it has been on a steady struggle between $33k and $41k. This week has seen some steady rise and uptrend. Cryptocurrency adoption has increased widely and institutional adoption is at its peak. We believe the market is on the go towards $50k before any backdrop. But from experience, we realize that the crypto market is very volatile and anything can happen at anytime.
If you are trying to get onto the market, one thing have got to consider is Do Your Own Research and do not FOMO. you can get onto Bitcoin by using the Binance platform where you can buy, sell and trade cryptocurrency at best rate. Sign up for Binance today HERE for free and start your Bitcoin journey.
Disclaimer: this is not a financial advice and any action you take you should consult your financial advisor or trade with caution.
The Blockchain Project 