In the year 2019 Bitcoin has been having it’s price fluctuate a lot and there’s a correlation with the news. We’ve had a crazy year from the most liked Egg picture on Instagram, to Tik Tok and to Bitcoin having it’s first presidential Tweet from Trump. The Presidential mention of Bitcoin was one of the key events that showed that the cryptocurrency was seeing increased sensitivity to events, both intrinsic and extrinsic to the cryptocurrency world.
The year had 9 mayor influence points for Bitcoin and there we also so a 300% rise which is massive. The yearly report presented by the analytics company CoinGecko show’s the movement in 2019. They explain that the fluctuations come from mostly news articles, and the most violent movements came from news from China.
Throughout 2019, Bitcoin rallied to $13,000, then gradually corrected to around $7,000 by year-end. All in all, 2019 was a good year for Bitcoin, gaining nearly 100% after a bearish 2018 where Bitcoin saw a 73% drop in value.
Bitcoin’s 2019 trend for being “news-driven” was further enhanced at the start of 2020. The United States’ drone attack against Qasem Soleimani, an Iranian military commander, saw Bitcoin, along with gold and oil, rise. The Iranian retaliation, a few days later, saw Bitcoin jump over $8,500 for the first time since November 2019, while simmering tensions saw a price reversal soon,