The sharp sell-off was largely attributed to security issues at the now-defunct Mt. But, the joy didn’t last long, as Bitcoin subsequently plummeted in value to bottom at just $0.01 over the course of a few days. The Bitcoin price broke its first major psychological mark of $1 back in late April 2011 to start its first-ever rally to hit $32 on June 8, 2011. Time to retest previous high: 20 months (June 2011–February 2013) In fact, Bitcoin has survived its fair share of crypto winters since the first Bitcoin block, or the genesis block, was mined back in January 2009.Īs we zoom out the Bitcoin price chart, Cointelegraph has picked up five of the most notable price declines in the history of the seminal cryptocurrency. However, the current market sell-off doesn’t make Bitcoin crashes and bear markets exclusive to 2022. The cryptocurrency also posted its heaviest quarterly losses in 11 years. June 2022 has become the worst month for Bitcoin since September 2011, as its monthly losses mounted to 40%. Bitcoin ( BTC) experienced one of its most brutal crashes ever in 2022, with the BTC price plummeting below $20,000 in June after peaking at $68,000 in 2021.
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