Bitcoin price rises 97% in 2019 despite violent price swings

It’s been a bumpy year for bitcoin hodlers, but despite the rough ride, over the last 12 months, the price of the cryptocurrency has risen by more than 95% since this time last year. 

On New Year’s Eve 2018, the price of bitcoin was sat at around $3,700, at the time of writing in 2019 however, the price has surged to around $7,300. That’s a 97.3% increase. Compared to other types of asset over the same time period, bitcoin has performed exceptionally. The Dow Jones Industrial Average rose 27.37%, and the UK FTSE 100 rose by a modest 14%.  Not bad. But it’s been a test of nerves for investors this year. 

As we entered 2019, bitcoin’s price continued to trickle downwards, hitting a low of $3,400 on February 8, according to data from CoinMarketCap. But from that point, the price began to climb, with monthly gains leading all the way to July 12, where the price of bitcoin hit its 2019 high of $12,955. Since then the market has been dominated by dramatic price swings.