Bitcoin’s price action in 2019 was mixed. After starting the year in the $3,000-$4,000 range, it saw a significant rally in the second quarter, briefly exceeding $13,000 in June. However, this momentum was not sustained, and the price gradually declined in the latter half of the year, finishing around $7,200. 

One of the major stories impacting the broader crypto landscape was Facebook’s announcement of its Libra project (later Diem), which, while not Bitcoin, brought renewed attention from regulators and central banks to the potential of digital currencies and stablecoins. 

Institutional interest in Bitcoin continued to build, with Bakkt (a venture by the Intercontinental Exchange) launching its physically-settled Bitcoin futures contracts. 

Bitcoin’s network fundamentals, like hashrate, continued to grow, indicating a strengthening underlying infrastructure.

Bitcoin Milestones in 2019

• April-June: Bitcoin experienced a significant price rally, peaking above $13,000.
• June: Facebook announced its Libra cryptocurrency project, prompting significant regulatory scrutiny worldwide towards stablecoins and cryptocurrencies.
• September: Bakkt, an ICE-backed platform, launched its physically-settled Bitcoin futures contracts.
• Throughout the year: Bitcoin’s dominance in the overall cryptocurrency market capitalization increased. The price ended the year significantly up from the start but well off its mid-year highs.