History of Bitcoin bubbles💰

Hello STEEMIANS🙂 I decided to collect charts and write my thoughts on the history and future of the first cryptocurrency. At the outset, I would like to point out that I am not an analyst, it isn't an investment advice, it is only my thoughts.

Below is the entire Bitcoin chart, practically from the very beginning of its creation. In the line chart in this scale, we see only the last three, the largest bubbles. I have marked here the curve connecting the last 3👇

Here below is the same entire Bitcoin chart, this time on a logarithmic graph. It shows better all the bubbles from the beginning of BTC. As you can see, they are separated by different time intervals. The curve in this graph looks opposite to the linear one. The size of the bubble from 2011 appears here (then the largest percentage increase in price occurred) 👇

✅2011

In half a year the price of Bitcoin grows 100 times! Our last bubble from 2017 is nothing compared to this increase 👇

✅2013 #1

After the bubble from 2011, the price drops at some point from $ 30 to $ 2. So it's a huge drop. It's like now from $ 20,000 the price has dropped to $ 1333! It really seemed that it was the end of Bitcoin. However, after less than two years, the price again jumped up, recording the next ATH higher 7 times than the previous bubble. In the graph below, we see both bubbles👇

✅2013 #2

Another bubble is interesting because it occurred in the same year 2013. In the spring, the bubble over $ 200, and at the end of the next year at the level of $ 1,100, this time a 5-fold increase. And again, both bubbles are visible on the chart👇

✅2017

We come to a familiar picture. From the bubble from the end of 2013 to the next, we had to wait 4 years, but this time it was again a big, 18-fold increase in relation to the last bubble. The graph shows both bubbles with a long period of time between them👇

In summary, Bitcoin's bubbles are a cyclical phenomenon. They occur at various intervals. As you can see the charts of the 4 largest bubbles are similar, which shows that this is a repetitive phenomenon, resulting from the law of supply and demand. So we ask ourselves the question when will the next and what BTC will reach the price. There is no unambiguous answer to this question. It seems that the price is stabilizing, like after each bubble. As the charts show, the periods between large bubbles varied from six months to four years. They can probably be shorter or longer, too. Time will tell. I've drawn below are two example scenarios👇 This is just a pictorial drawing! Please do not take them seriously, because nobody really can predict the future. In my opinion for sure, at least one more Bitcoin bubble before against the threat of quantum computers. However, all this indicates that so far Bitcoin will be equipped with Quantum Resistant. Humanity is unlikely to let the first legendary cryptocurrency fall.

In my native Polish language I don't use bots. I rarely write in English. In English, I wanted to increase the visibility of this post. I hope useful for you.

Thank you for reading and greetings🙂

Source of charts: https://99bitcoins.com/price-chart-history/