Have the great events in history impacted the price of Bitcoin?
Bitcoin (BTC) has traveled an eventful path since its creation in 2009. TradingView.com recently revealed a BTC chart that shows the main events in the history of digital assets, along with the constantly changing price of cryptomone currency.
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Released Tuesday, the chart points to potentially significant events in the Bitcoin Code price trajectory, showing a „consolidated Bitcoin history overlaid on de facto crypt charts (by TradingView),“ platform general manager Pierce Crosby told Cointelegraph.
The TradingView team intends to update the chart every 14 days, although if important news comes in, the team says they will adjust the metrics sooner. Clicking on several bubbles in the chart produces an explanation of each event. The site also lists events in the form of a blog below the graph.
„TradingView Timelines has been a unique undertaking by our core visualization team and shows us the importance of putting ’news in context‘ (the corresponding chart). We expect this logic to become much more common in the coming years to demonstrate the relevance of a given news item. This is just the first step.
Worth less than $1 in its early days, the digital asset skyrocketed beyond $40,000 in 2021. Many important events have occurred along that price path, such as the Mt.
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„Our initial observations show the immediate impact of historical events on asset prices,“ Crosby said. The BTC timeline shows a number of events, although the most recent headlines focus on the many price barriers that the asset has broken.
„When you look at some of the early historical events, they are dwarfed by the price action in 2015 – 2017, the first period when current events captured investors‘ imagination,“ Crosby noted in the chart.
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Such a timeline adds a tool for discussions about Bitcoin pricing in terms of possibly correlated events and reactions. „Looking only at BTC’s price movements in the market gives an incomplete picture of why its price fluctuates the way it does, in a seemingly volatile way,“ said Crosby, and added:
„Timelines is the first comprehensive source for sharing price movements along with corresponding real-life events, so that investors can understand why there are certain spikes or declines, which helps inform them about the future and gives them a deeper understanding of the asset they are trading.