These days, Bitcoin remains the trending topic in the global financial industry as it reaches heights that no one thought are possible. Its value has never been greater and the number of users exceeds 5 million. Not only that but thousands more are joining with each passing day.

As you may know, this is not the first time that Bitcoin peaked in value. It happened on 2 other occasions in its history, but the difference is that in both of those times, Bitcoin plunged very shortly after reaching its peak. We are going to take a look at this case and explain how Bitcoin managed to remain stable months after breaking the record in value.

Current State

At the moment, Bitcoin’s value fluctuates between $55,000 and $60,000. Earlier in April 2021, it even managed to rise as high as $63,000. Its price has never been higher and these days, Bitcoin is as valuable as gold. Due to the massive potential that this cryptocurrency has, many people sign up to trade with it and make a profit. Reports have stated that there are around 100,000 Bitcoin millionaires in the world in 2021.

Not only that, but trading Bitcoin has become much easier than before thanks to the rise of trading sites. Reputable platforms of this character provide the registered users with a very effective tool that can help them battle the high volatility and thus, maximize their profits.

One of those services is available at News Spy, one of the most popular trading sites on the planet. When traders register and type in their username and password in the News Spy login, they gain access to their AI system which collects data about Bitcoin from the market and use it to determine Bitcoin's future fluctuations with great precision.

Thanks to these services, trading has become easier than before, many new people register daily and contribute to the stability of the network.

Previous Peaks in Value

As we mentioned earlier, Bitcoin has had 2 previous peaks in value previously. The first one was in January 2014 and the second one was in December 2017. But, in both of these cases, Bitcoin managed to plunge shortly after reaching a record-breaking value.

Let’s start with the first peak. In January 2014, Bitcoin topped $713 for the first time in history. At the time, this cryptocurrency was deemed highly illegal and it was only used on the black market. So, US authorities got a tip on a possible Bitcoin mining HQ. They raided these locations and seized a majority of the Bitcoins that were released in the network. That caused Bitcoin to plunge in value and spend 2 years trying to recover.

As for the second peak, we are all familiar. In December 2017, Bitcoin almost reached $20,000 in value but plunged days after reaching the record. The reason for that is because the network was overflown and it crashed instantly.

How it Managed to Remain Stable?

The short answer to this is that Bitcoin learned from its mistakes and made sure that they never happen again. But, other factors played a massive role as well. Bitcoin’s popularity rose at a steady rate since 2017. Not only that but as we saw with trading sites, the services became far more effective. To add to that, the infrastructure has grown significantly and a massive institutional interest appeared.

Many global brands started investing in Bitcoin. Some of those include Tesla, Shopify, Microsoft, Overstock, and Wikipedia. They too were a massive factor in stabilizing Bitcoin. Hence, even though Bitcoin broke the 2017 record in value in December 2020, it continues to rise steadily. Some even believe that it yet to reach its full potential.

Many experts believe that Bitcoin will likely peak around autumn and reach a value of over $100,000.