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Bitcoin Price Today and How Did It Change Over the Past Six Months?

The market of digital assets differentiates from the traditional markets with its incredibly high volatility, which is why it is riskier to invest in crypto assets. On the other hand, it is important to understand how this market works and to be able to analyze and predict its further fluctuations, and then you will succeed in crypto investments and trading.

One of the most important things is to understand what affects crypto rates. That is the set of factors that we will discuss in this article. We will take Bitcoin as an example and try to analyze the market fluctuations over the last six months based on those factors.

What is Bitcoin, and What Are Its Main Price Indicators?

Bitcoin is the crypto market leader, with a capitalization exceeding $325 billion. The asset runs on the Proof-of-Work consensus protocol, which means BTC are received through mining. That is complex work done with advanced equipment and computers. 

Bitcoin is traded on all crypto exchanges.

One of the most popular pairs with this coin is ETH to BTC. By the way, Ethereum (ETH) is the second-best crypto asset by market cap. It exceeds $152 as of December 2022.

So, BTC’s all-time high was $68,78. As of December 12, 2022, its price has reached $16,9. Why did it drop so much?

Here are some reasons for the BTC drop in spring 2022:

  • Looming economic crisis
  • Large-scale war
  • FED’s rates increasing
  • Binance blocking BTC withdrawals.

When BTC started to drop, all other crypto assets collapsed, following the market leader. Then in November 2022, another huge drop occurred after the news about the FTX exchange’s financial problems was rolled out. 

Here is the history of the BTC over the last 6 months:

  • June 1, 2022 – $31
  • June 19, 2022 – $19
  • August 13, 2022 – $24
  • September 22, 2022 – $18
  • November 6, 2022, – $21
  • December 12, 2022 – $$16,92.

The current downtrend is the best time to buy BTC at a low price and hold it long-term until the next market trend starts. We recommend using the WhiteBIT exchange to buy and trade crypto. It offers over 450 trading pairs, and ETH BTC is among the most popular. Today, it is traded at $0.073.

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