Bitcoin's first little bear market December 2010. Anyone else remember this?

2 replies 38 views
lonewhaleSenior Member
Posts: 328 · Reputation: 1624
#1Dec 29, 2024, 03:36 PM
Looking back at the numbers, from November 28, 2010 to December 28, 2010 was the first time BTC really dropped in price (from 0.27 USD on November 28 to 0.17 USD on December 9). This was pretty much a non-event in the grand scheme of things since Bitcoin's market cap was just a million bucks at the time. But for those early investors who had thrown in a good chunk of their savings, it probably felt pretty major. Like this guy who said he was putting all his savings into Bitcoin. Losing 40% of your investment in just 10 days is rough. Imagine telling someone, "I went from 100,000 USD in savings to only 60,000 left. I knew it was a scam!"
5 Reply Quote Share
planktonSenior Member
Posts: 473 · Reputation: 1384
#2Dec 30, 2024, 02:16 AM
(I'm sorry but I'm not a clicking guy), so I didn't read the article. But I was curious as what is the reason of the decline at the early years of Bitcoin. So I just check if there are any vulnerabilities that time. I can only find two in the late 2010's. Which is the well known "Value overflow Incident" -> (https://en.bitcoin.it/wiki/Value_overflow_incident) CVE-2010-5140 - in which sent transactions are not confirming -> (https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures#CVE-2010-5140) Of course, who wouldn't? so that could be the reasons why some early investors opted to get out of the market seeing that huge decline in the early years.
3 Reply Quote Share
p1x3l365Senior Member
Posts: 511 · Reputation: 1890
#3Dec 31, 2024, 07:12 AM
Oops, probably every experienced users observes every nprotocols security protocols, you don't click links randomly unless you you trust the source of well verified the url. I'm also expected that this line should be discussed too in cordial alignment to the historical records, the volatility attributes of bitcoin is recommend able for communities with an insight of holding it for the values as treasure. And to remind you, potential hedge of  value otherwise, bitcoin is psychologically manipulated and with and with how volatility can get unpredictable, those holding in the long long term don't have problems nor panic over short term volatility.
0 Reply Quote Share

Related topics