Bitcoin events in 2020–2021
As a Cryptowave
What happened to Bitcoin from 2020 until the end of 2021?
Its price history is visually represented in the image above as a Cryptowave. Cryptowave is a generative price wave derived from cryptocurrency price action, and the one above belongs to The Art of Cryptowaves NFT collection.
This type of BTC Cryptowave is characterised by a steady High Time Frame growth, great volatility, 6.5x return and bullish news.
Return & Gains
Let’s imagine that on 01/01/2020 you had purchased 100k USD into BTC, and HODL… on 31/12/2021 you would have had about 650k. This is a 6.5x return.
That’s not the maximum though. If you would have sold at the peak on 09/11/2021 at 67k, you would have done a 9.4x and 940k.
Volatility
Very high, with extreme peaks during March 2020 Covid crash, a black swan event.
Growth
BTC price action looks like an S-shaped curve with the peak happened on 14/04/2021. On an HTF, you would not have to be concerned much, as your investment was rising.
Events
There have been many bullish and bearish happenings.
- March 2020 has seen a huge crash of all markets due to Covid. This event could be classified as a “Black Swan” event.
- A V-shaped recovery happened in the 2 months after Covid crash.
- From the middle of October 2020 until April 2021 Bitcoin had a parabolic run, a leg up how Technical Traders name it.
- From May 2021 until July there has been fear and desperation in the market, especially for people that wanted to sell in April, but didn’t. Fear & Greed Index reached 10.
- On 8 June 2021 The Bitcoin Law was passed by the Legislative Assembly of El Salvador, under Nayib Bukele, giving Bitcoin the status of legal tender within El Salvador after 7 September 2021.
- In July lots of crypto gurus were shouting for short positions towards 20k or even 10k. No one was right, only a few professional traders called the bottom at 29k and another time at around 40k.
- Bitcoin reached ATH on 10/11/2021 with 69k.
- Throughout Q4 everyone was expecting another leg up towards 90k+, but didn’t happen. This price action could instead be seen as an accumulation phase in the range 30k-65k.
Overall, the “2020–2021” timeframe has been a bullish time period for Bitcoin. Bullish as the bull silhouette in the image above, after the Covid crash and before the leg up.
What about you? What have you done during this timeframe?
Some people sold during the Covid crash, others got filled their limit orders at 4k. Some got liquidated. Some started to learn Technical Analysis. Some rode the entire bull run until 60k. It must have been a rollercoaster of emotions.
Cryptowaves
Cryptowaves were designed to honor the evolutionary nature of crypto and all the crypto traders. Each cryptowave is a unique piece of artwork with elements inspired by price action and technical analysis with its own color palette and traits. The Art of Cryptowaves is the first NFT collection at the intersection of crypto, trading, NFT, and art, representing a historically significant NFT.
For more information, have a look at our website, Twitter, and more here in Medium.
Previous Articles:
- The Art of Cryptowaves: Genesis
- The Art of Cryptowaves: BTC & ETH. 2121 & 1018. Emotions & Analysis
- The Art of Cryptowaves: Colors and Life
- The Art of Cryptowaves: Randomness & Order
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