Bitcoin Price History

Bitcoin Returns by Year

Q: How often does Bitcoin have a down year?

Out of 15 complete years (2011–2025), Bitcoin had 5 down years (2014: -62%, 2018: -73%, 2022: -65%, and 2025 YTD: -15%). That's a 67% win rate. More importantly, when Bitcoin had a down year, the following year was positive 11 out of 11 times — no back-to-back down years in the complete dataset.

Every year of Bitcoin's existence, from $0.30 in 2011 to $104,000 in 2024. The starting price, ending price, % return, and the event that drove it.

Best Year

—

Worst Year

—

Average Return

—

2011–2025 annual avg

Median Return

—

typical year return

Bitcoin Annual % Return (2011–2025)

Up year

Down year

Year	Starting Price	Ending Price	Return	Major Event

📈

Get the Bitcoin Cycle Report

We put together a 12-page analysis of every Bitcoin cycle since 2011 — the patterns, the drawdowns, what came after, and how to position in 2025. Enter your email and we'll send it over.

No spam. Unsubscribe any time.

Want to invest in Bitcoin through a TFSA or RRSP? We recommend Wealthsimple.

Commission-free Bitcoin ETF purchases. FBTC (0.39% MER) and BTCX.B (0.40% MER) are both TFSA- and RRSP-eligible and available on Wealthsimple.

Open WealthSimple Free →

Why 2017 Was Different

Bitcoin's first major mainstream moment. The price went from $963 to nearly $20,000 in 12 months, driven by ICO speculation, institutional interest, and the first major wave of retail adoption in North America and Europe.

The Four-Year Cycle

Bitcoin's supply is cut in half every ~4 years (the "halving"). This creates a predictable supply shock. Historically, the 12–18 months following each halving produced the strongest returns of the cycle.

2022 Was a Reset, Not a Failure

2022's 65% drawdown was the second-worst year in Bitcoin's history. But every prior down year was followed by an up year the next year. The 2024 spot ETF approval cycle delivered 146% returns.

Canada's Advantage

TFSA contribution room means Canadians can hold Bitcoin ETFs with zero capital gains tax. Over a multi-decade holding period, that tax shield alone could be worth hundreds of thousands of dollars.

Common Questions

What was Bitcoin's best year ever?▾

2017 was Bitcoin's best year, returning over 1,300%. The price rose from $963 to nearly $20,000 before pulling back to $13,860 by year-end. That year also saw the first major mainstream media coverage and the peak of the ICO bubble. Bitcoin's second-best year was 2013, returning over 6,000% as the first major adoption wave hit.

How often does Bitcoin have a down year?▾

Out of 15 complete years (2011–2025), Bitcoin had 4 down years (2014: -62%, 2018: -73%, 2022: -65%). That's a 73% win rate. More importantly, when Bitcoin had a down year, the following year was positive 11 out of 11 times — no back-to-back down years in the complete dataset.

What drives Bitcoin's annual returns?▾

Bitcoin's returns are primarily driven by three factors: the four-year supply shock cycle (halvings occur roughly every 4 years), broader macro conditions (2022 saw the worst bear market in a decade alongside rising rates), and speculative demand (2017's ICO bubble and 2024's ETF approval are examples). Understanding these cycles helps Canadians make better allocation decisions.

What is Bitcoin's average annual return?▾

Bitcoin's compound annual growth rate (CAGR) across 2011–2025 is approximately 87% — meaning a $1,000 investment in 2011 would be worth roughly $88,000 in 2025. The median annual return is 60%. These figures include two 65%+ drawdowns in 2014 and 2022. Past performance does not guarantee future results; Bitcoin is a volatile, high-risk asset and you may lose some or all of your investment.

Should I buy Bitcoin based on historical returns?▾

No — past returns do not predict future performance. The historical data in this table is for educational purposes. The four-year cycle pattern is real but has never been observed in a fully mature market. Your Bitcoin allocation decision should be based on your risk tolerance, time horizon, and how much you can afford to lose. A dollar-cost averaging strategy inside your TFSA reduces timing risk significantly.

⚠️ Not financial advice. This table is for educational purposes only. Bitcoin is a highly volatile, speculative asset. Past performance does not guarantee future results. All price data is approximate and based on publicly available year-end closing prices. Always consult a qualified financial advisor before making investment decisions.

Tax treatment depends on your personal situation. Bitcoin ETF gains inside a TFSA are completely tax-free; gains in a taxable account are subject to Canadian capital gains tax rules.