 What is going on ladies and gentlemen and welcome back to another Bitcoin daily video in today's video I'm sad to say it's officially the last video that we're doing this year guys We are doing a special 2020 year in review video 2020 has been an exciting year in cryptocurrency guys And today we're gonna do a recap on the insane ride and highlight the roller coaster of events on Bitcoin's journey to almost $30,000 the global COVID-19 pandemic took the entire world by storm and changed the lives of millions of people This had a direct impact on all industries and markets and cryptocurrencies were absolutely no exception 2020 although it had its lows Perhaps it's safe to say that the highs were much more Bitcoin went on a roller coaster It started off the years steadily crashed Massively a few months later and came back stronger than ever to chart highs that we haven't seen before The total market cap is almost at the point that it was back in 2017's parabolic run though this time things are looking very very different. So without any further ado Let's have a look at the most important events of 2020 and how we ended up right here where we are today Guys make sure that you like and subscribe guys hit that notification bell and drop a comment Let us know if you've been in this bull run And if you guys are interested in using the exchange that we use we use by bit in the description We have a link where you guys can sign up to do that And you'll be able to get some rewards on your initial deposit up to around a hundred dollars or more So without further ado, let's jump right in guys January through March the world before COVID Bitcoin started the year strong. It opened the year up at seven thousand three hundred and fifty dollars soon after Bitcoin option contracts were launched on CME providing Institutional investors the opportunity to receive exposure to the cryptocurrency in their portfolio Bitcoin ended up running up about 42 percent to a high of ten thousand five hundred dollars In mid-February before the panic started to set in corona was born Technically the corona virus was discovered in China before the beginning of 2020 but it was really in March when most countries took serious measures as the virus went rampant Corona began to spread in China around February But at this point the spread was somewhat limited to the country itself But towards the end of the month that's when things started taking a turn for the worst In March Wall Street saw the fastest 10% drop in its entire history Bitcoin saw one of the worst weeks that it's seen since 2013 with a 33% drop Including a 45% drop on March 12th itself. It dropped from seven thousand nine hundred and thirty nine dollars To four thousand three hundred dollars on that one day once it does settled, however Many realize that the worst had passed and that the best was yet to come Especially with what our governments did next April to July Fed's printers go brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr So starting in April governments across the world started printing out money to stimulate the entire economy and bailout corporations In the midst of all the money printing, institutions began to realize that there was opportunity in Bitcoin. Feds continued to make the printers go Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr. On May 7th, Paul Tudor Jones allocated 1-2% of his funds to Bitcoin Futures. A few days later on May 11th was the third-ever halving, which reduced the supply of freshly minted bitcoins in half while of course the Fed's printers went. Grayscale, the largest cryptocurrency fund manager, started buying up more bitcoins further reducing supply. In June, the v-shaped recovery finally came in. Nasdaq hit fresh new all-time highs as the Fed just kept throwing money into the market. In July, it was Ethereum's fifth birthday and consequently it hit a five-month high. Soon after that, the SEC fined Telegram $18.5 million. This happened in June but it foretold how the regulatory landscape would develop in the months to come. August to October, the DeFi craze was born. The DeFi market went parabolic. Wi-Fi or year in finance went from $0 to $44,000. Something that no one could have expected or predicted. And even though the cryptocurrency has since then halved its price, it's still technically the second most expensive crypto on the market today. After that, we saw plenty of projects flooding the DeFi space. One of them was Uniswap, the world's leading decentralized exchange protocol. During these same periods, MicroStrategy adopted Bitcoin as its primary reserve asset and bought $250 million worth of Bitcoin, or $21,454. And shortly after that, MicroStrategy bought another $175 million more in Bitcoin, upping its Bitcoin holdings to $425 million. Of course, Jack Dorsey from Twitter and Square didn't want to be left out, so he invested with his company Square $50 million into Bitcoin as well. Stone Ridge Holdings bought more than 10,000 Bitcoins as part of its strategy of making Bitcoin its primary treasury reserve asset as well. Then PayPal announced its plans to start offering customers the options to buy, sell, and store cryptocurrencies. This was a massive deal for the entire industry because the huge network of merchants that PayPal serves can now also be able to use crypto as a means of payment. So during all this euphoria, BitMEX was then sued with claims that it has been running and legal derivatives exchange. Soon after, Arthur Hayes stepped down as a CEO. And after that, John McAfee was also charged with promoting fraudulent initial coin offerings. Then came November and December, the boom of the market. The last two months of this year were nothing short of spectacular for Bitcoin. The most impressive part was that this isn't a retail driven hype cycle. Institutional investors were the ones fueling the fire behind Bitcoin this time around. Soon after, more and more hedge funds began to invest in Bitcoin as well. So of course, naturally Bitcoin tested previous all time highs in November for the first time since 2017. In December, MicroStrategy bought $700 million more in Bitcoin, putting its total Bitcoin holdings over $1 billion. Bitcoin, of course, broke all time highs. And as you guys know, we're currently at $29,000. But of course, the government wanted to come and attack us yet again, right? So the SEC pressed charges against Ripple. The XRP has now been delisted in many major exchanges, which plummeted the price by more than 65%. 2020 was perhaps the most interesting year for the entire cryptocurrency industry. The single most crucial fact that everyone should by now be aware of is that it stood the test of one of the worst challenges that the entire world has had to face in the past decades. This is a clear testament that blockchain and cryptocurrencies are here to stay. This should also put a definitive damper on the it's a bubble narrative because its resilience was put to the test like never before. Alrighty guys, this concludes our yearly recap. We at Bitcoin Daily would like to thank all of you, our followers, and subscribers, and wish that you and your close ones be blessed with health, happiness, and profits in this new year. Stay safe guys, and as always, peace and love. See you guys next year!