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Bitcoin price tracker (BTC)

What events have influenced the values of Bitcoin?

Charlie Barton
Charlie Barton
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    Since the advent of Bitcoin in 2009, cryptocurrencies and the future of all money have become increasingly hotly debated topics, with more altcoins cropping up regularly, and the value of Bitcoin itself seeing unbelievable rises and falls. But where does the value of cryptocurrencies come from? And what causes them to rise and fall? Use the interactive chart below to explore the price history of Bitcoin and the effects different key events had on it.

    Looking for an event in particular?

    The table below shows the dates of events and our take on their effects on cryptocurrencies. Simply scroll through or use our search function to find a specific event.

    Annotation Date Annotated Text
    2020-05-11 Bitcoin halving
    2020-03-24 US government announced a $2 trillion stimulus package to shore up the US economy, causing stock markets and Bitcoin to rally.
    2020-03-18 Today, traditional markets made a slight recovery and Bitcoin followed, indicating that Bitcoin and stock markets are correlated for the time being.
    2020-03-10 The spread of the coronavirus pandemic meant numerous countries went into lock down causing more economic uncertainty and reduced investor's confidence in equities markets and cryptocurrencies
    2020-02-24 Global stock markets crashed after a rise in cases of coronavirus, especially in Europe, meaning investors are taking the opportunity to invest in bargain stocks and to sell off Bitcoin
    2020-02-05 Investor velocity (those that buy and hold onto Bitcoin) has increased ahead of the upcoming halvening making Bitcoin more scarce causing the price to rise
    2020-01-25 As the spread of corona virus continues investors are moving investments out of China and are investing elsewhere in assets such as cryptocurrencies and gold
    2020-01-15 2020 started with lots of discussion around the halvening coming up in May this year. Arthur Vayloyan, CEO of Bitcoin Suisse, said that he expects Bitcoin to rise in general as a result of the halvening
    2020-01-03 The assassination of Islamic Revolutionary Guard Corps Maj Gen Qassem Soleimani escalated tensions between US and Iran. This caused investors to look for non-sovereign assests and the price of Bitcoin to surge by $600
    2019-12-16 The second largest cryptocurrency, Ethereum, slumped 3% after Chainalysis found that PlusToken Ponzi had been dumping thousands of coins per month on the open market. Bitcoin closely followed due to the tight correlation between the large-cap cryptocurrencies
    2019-12-06 Deutsche Bank's “Imagine 2030” report suggested that the current fiat system is fragile and that over the next decade demand for alternative currencies such as Bitcoin could soar
    2019-11-22 People’s Bank of China (PBoC) has warned it will be cracking down hard on bitcoin and cryptocurrency trading in the country.
    2019-11-01 BitMEX, one of the world’s biggest cryptocurrency trading platforms, accidentally leaked thousands of customer's email addresses
    2019-10-24 China's President, Xi Jinping, announced that China would be heavily investing in blockchain technology
    2019-10-20 Sudden sell offs caused by long liquidations on BitMEX
    2019-10-08 PayPal pulls out of Facebook's Libra cryptocurrency
    2019-10-03 Companies (Mastercard, Visa, PayPal and Stripe) shed doubts on their involvement with Libra, Facebook's cryptocurrency
    2019-09-25 Messaging platform Kik announces that it is shutting down and moving into the cryptocurrency space
    2019-09-18 It is reported that North Korea is developing its own cryptocurrency
    2019-09-12 Researchers have issued a serious warning about scam sites that now make up 4 of every 5 results for a Google “bitcoin qr generator” search
    2019-08-29 China’s central bank set to launch state-backed cryptocurrency
    2019-08-27 Facebook opens up Bug Bounty to public for new cryptocoin Libra, with $10,000 prize
    2019-08-05 A United Nations panel alleges that North Korea stole up to $2 billion through forced illegal transfers of funds from financial institutions and cryptocurrency exchanges
    2019-07-30 US Treasury secretary Steven Mnuchin warns that bitcoin will not be widely used in ten years time and believes they have been exploited to support illicit, criminal activity
    2019-07-23 The UK's FCA launch their updated guidance on cryptocurrency, including a warning that "cryptocurrency has no intrinsic value"
    2019-07-15 Facebook announced the currency will not launch until all regulatory concerns have been met and Libra has the "appropriate approvals"
    2019-07-12 Donald Trump tweeted that he is "not a fan of Bitcoin or other Cryptocurrencies"
    2019-07-04 JPB Liberty, an Australian litigation finance company, filed a $500 billion global lawsuit against Facebook, Google and Twitter over the cryptocurrency advertisement bans
    2019-06-18 Facebook's announces the launch of their own cryptocurrency called Libra
    2019-06-12 Coinbase launches a cryptocurrency debit card, initially available in six European countries
    2019-05-08 Facebook reverses its policy barring cryptocurrency adverts
    2019-05-08 Binance exchange hackers steals $41M worth of Bitcoin
    2019-04-08 China wants to ban Bitcoin mining
    2019-04-01 MPs reject Theresa May’s EU withdrawal agreement. Brexit uncertainty could have caused a boost for the economies of other countries
    2019-03-26 Twitter bans cryptocurrency advertisements on its site
    2019-01-30 Bitcoin mining difficulty dropped significantly - December 3, 2018
    2018-12-03 Major banks ban purchase of cryptocurrencies on credit cards.
    2018-11-11 Bitcoin price is lowest it has been for the first time since Oct 2017- people speculate this is due to ‘capitulation’
    2018-10-31 Bitcoin falls more than $2,000 after South Korea announces planned trading ban.
    2018-09-05 Bitcoin turns 10 years old
    2018-08-07 Goldman Sachs drops crypto trading plans
    2018-07-16 SEC delays decision on Bitcoin ETFs (exchange-traded fund)
    2018-06-28 BlackRock sets up a working group to look into crypto and blockchain
    2018-03-14 Facebook is lifting ban on crypto ads
    2018-05-02 Google bans crypto advertisements - March 14, 2018
    2018-11-01 Facebook bans all ads promoting cryptocurrency
    2017-12-06 China announces it will shut down all Bitcoin and cryptocurrency exchanges
    2017-09-15 JP Morgan executive calls Bitcoin a ‘fraud’
    2017-08-01 Steam removes Bitcoin payment, just months after announcing it.
    2017-04-01 Some Bitcoin supporters split and set up a rival coing Bitcoin Cash (BCH)
    2016-11-09 Japan declares Bitcoin as legal tender
    2015-10-22 Donald Trump elected as president - global markets drop in value
    2015-04-07 EU declares no VAT on bitcoin trades
    2014-12-11 Rand Paul's presidential campaign becomes the first to accept donations via crypto
    Microsoft starts to accept Bitcoin as a digital payment

    The events that appear to have had the most drastic impact on Bitcoin

    • Exchange platform faults. Following the infamous Bitfinex “Flash Crash” the price of Bitcoin fell 14% in just 30 minutes, proving just how volatile cryptocurrencies can be and their heavy reliance on trading platforms. Warning: Bitfinex offers cryptocurrency derivatives, which the regulator banned from sale to UK consumers in January 2021.
    • Politics. This new unprecedented and unregulated market is causing unrest in some countries. Political announcements remain heavily influential on prices. For example, South Korea clamping down on Bitcoin has negatively affected the price, while countries like Japan recognising Bitcoin as a currency saw Bitcoin’s price rise in 2016.
    • Cyber attacks. Cryptocurrencies boast to be a new secure currency method – but these claims only entice cyber attacks. Major platforms like Bitfinex, Mt. Gox and YouBit have experienced attacks, losing millions of users’ Bitcoin.
    • News. News announcements remain a powerful influence on the price of cryptocurrencies. JP Morgan boss Jamie Dimon called Bitcoin a fraud in September 2017, causing its price to drop by 10%.
    • Regulation. Cryptocurrency regulations have been tightened after Facebook revealed plans for its own coin, Libra, which has the potential to introduce cryptocurrency into the public eye. Talk of rival coins and involvement of large powers, in turn, provide cryptocurrency media attention.

    What causes the price of cryptocurrencies to rise and fall?

    The value of cryptocurrencies is fluctuating constantly, but what events cause the price to change? There are many different factors that can influence the price of a cryptocurrency. Take a look below for some of the main reasons.

    Events that have the potential to impact the price of cryptocurrencies include:

    • The release of new coins. The release of altcoins has been seen to impact the price of other cryptocurrencies. For instance, the release of Bitcoin Cash (BCH) caused the price of Bitcoin to fall by nearly $1,000 in November.
    • Government regulation. Cryptocurrencies are a new and unregulated financial market, subject to heavy government speculation and regulation. For instance, the UK and EU governments recently announced they would be cracking down on BTC for its links to money laundering and tax evasion. The price of BTC fell more than $1,000 after this news broke.
    • Media influence. Media coverage and speculation can have a huge impact on the price of currencies. For example, news that the Ethereum founder had been killed in a car crash saw the market value of Ethereum drop by 20% until the news was later announced as fake.
    • Supply and demand. The age old economic model holds true, especially for cryptocurrencies. Much of the market price of cryptocurrencies is controlled by the demand for the coin and its supply. An example of this was when Coinbase, a major US trading platform, released support of Bitcoin Cash. Due to the high demand for the new currency and low supply, the price sky rocketed.
    • Technological changes and innovations. The development or integration of a cryptocurrency into new technology is likely to cause prices to soar. This was seen when Paypal announced it would be supporting Bitcoin.
    • Market manipulation. Owners of a large proportion of a coin’s supply or of a coin’s mining hold a lot of power over the value of a coin. A hypothetical scenario known as a 51% attack could see the price of a coin plummet as miners prevent new transactions from processing.
    • Bitcoin price. Whatever your thoughts on the original cryptocurrency might be, Bitcoin is essential to the market. Most coins are first priced against Bitcoin, therefore any change in its value will impact the value of other cryptocurrencies.
    • Business dumping. This is where someone with a large amount of stock suddenly decides to sell, causing its price to plummet. Although there is no specific example as yet, business dumping or “pump and dump” has the potential to create huge fluctuations in a currency’s value.

    If you’re thinking of investing in a cryptocurrency, read our handy guide to Bitcoin and altcoins or take a read of our cryptocurrency predictions.

    Click here for more research. For all media enquiries, please contact

    Matt Mckenna
    Head of UK communications
    T: +44 20 8191 8806
    matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2

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