Cryptocurrencies are considered volatile investment options. Their values surge and decline far more dramatically than traditional investment options, leading them to be perceived as risky assets. Popular cryptocurrencies’ biggest surges—and, in many cases, subsequent falls—illustrate this volatility perfectly. A cryptocurrency can see astronomical growth in one year or over a few months, far more than doubling in value. However, the value might plummet significantly shortly after reaching a new high.
Of course, this doesn’t mean that you need to avoid cryptocurrencies entirely when investing. If you invest in them, it’s considered best practice to keep the amount to a small portion of your overall investment portfolio. It’s also a good idea to familiarize yourself with the past surges that cryptocurrencies have experienced to be an informed investor prepared for their volatile nature. Let’s explore some of the biggest crypto surges of all time for the two best-known and most valuable cryptocurrencies today, Bitcoin and Ethereum, starting with the cryptocurrency pioneer, Bitcoin.
Bitcoin
When Satoshi Nakamoto, the pseudonym used by Bitcoin’s anonymous developer(s), launched Bitcoin, its value was low and relatively unchanged for its first few years. However, the value began to rise in 2013, reaching more than $1,000 by November. It then began to fall again until it experienced one of its larger value surges in 2017.
2017: Rise from ~$1,000 to nearly $20,000
In 2017, investors became aware of Bitcoin as a potentially valuable asset, leading to increased interest in the cryptocurrency and helping to push it to new heights as the year unfolded. At the beginning of the year, Bitcoin wasn’t commonly known beyond people interested in technology. However, as the middle of the year showed the crypto’s value grow from around $1,000 to $4,000 and then continue increasing, it caught the public’s attention. More people were interested in cryptocurrency, leading to increased investments and greater public awareness. This positioned Bitcoin for a significant surge throughout the rest of 2017. By the end of the year, Bitcoin’s value surged to nearly $20,000.
After this surge, Bitcoin entered a downward trend in 2018, with the cryptocurrency continuing to rise and fall but failing to reach the $20,000 mark again until 2020.
2020 to 2021: From $7,200 to $69,000
As 2020 began, Bitcoin’s value was $7,200, and it seemed its value would continue to fluctuate with modest gains and losses. However, as the pandemic led to mass shutdowns, the value dropped by nearly 40% in a single day. As fears about the pandemic’s impact on the economy grew, interest in cryptocurrency rose, and Bitcoin’s value skyrocketed as a result. Bitcoin closed 2020 with a high of $28,949, a rise of over 400% compared to the start of the year.
The surge in Bitcoin’s value didn’t stop at the close of 2020; its increase continued into 2021. In the first seven days of January, its value reached $40,000, and by April, it reached an all-new high of $64,895. In line with its volatile nature, Bitcoin then fell to $30,829 over the summer of 2021, but by the end of the year, its value was even higher at $69,000.
2024: Reaching $100,000
Following the re-election of President Donald Trump at the end of 2024, Bitcoin soared to $100,000, an all-time high. This surge was largely attributed to Trump’s pro-cryptocurrency stance, leading to investors feeling more confident in the cryptocurrency.
Ethereum
When the public became aware of Bitcoin, a far more competitive cryptocurrency market developed. More crypto options were released, including Ethereum, which became available in 2015.
Ethereum offered a different element to cryptocurrencies that Bitcoin didn’t use: smart contracts. Bitcoin was designed to function like cash for daily transactions, allowing people to use it for purchases ranging from buying a pizza to playing at online casinos (though not the free options covered in casinos.com’s post about free SC coins). However, Ethereum offered a bit more protection for spending money than traditional cash options, with smart contracts requiring each party to fulfill their role before funds are released.
Like Bitcoin, Ethereum’s value remained relatively low for its first few years on the market, but this began to change in 2017.
2017 to 2018: From ~$10 to $1,000
In 2017, Ethereum benefited from Bitcoin’s rise in value and the increased interest in and access to investing in cryptocurrencies. Midway through 2017, Ethereum increased to a value of $400, and it finished the year off just under $700. In early 2018, Ethereum reached a new high of $1,000. Following this new high, Ethereum’s value began to decline and didn’t see another extreme surge until 2021.
2021: Reaching Its Record-High of $4,800
As fears about the economy’s health grew, investor interest in cryptocurrencies extended to more than just Bitcoin. Ethereum benefited from this as well. In 2021, its value was on the rise, and by November, it had reached its highest value to date, $4,800. Its value has fallen since, though it also benefited from Trump’s re-election. While its value rose from its post-2021 volatility, it did not reach its record high.
Honorable Mentions
While Bitcoin and Ethereum have been the dominant cryptocurrencies, they aren’t the only ones that have seen impressive surges in value. Honorable mentions include Binance Coin, Solana, and Dogecoin, which began as a joke cryptocurrency. All three of these cryptos surged in 2021, with Binance Coin seeing a 1,298% increase, Solana seeing an 11,000% increase, and Dogecoin seeing a 3,500% increase. Admittedly, none of these alternative cryptos, not even Ethereum, have come close to the values that Bitcoin has reached, making Bitcoin’s surges the most significant to date.
