Bitcoin (BTC) is still worth $20,000 nearly six years after first reaching it — if adjusted for inflation.
According to data from sources including U.S. Inflation Calculator, BTC price performance has de facto stayed static since 2017.
BTC price “barely above” 2017 old all-time high
While criss-crossing the $20,000 mark since tapping it as an all-time high in 2017, BTC/USD has gone as high as $69,000 in the meantime.
Taking inflation into account, however, the story of BTC price action looks remarkably different. As of Aug. 25, 2023, $20,000 worth of BTC purchased in 2017 is now worth $24,942.
Put another way, the current Bitcoin spot price — $26,050 per data from Cointelegraph Markets Pro and TradingView — reflects six years of practically static BTC price action.
![](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2023/08/bitcoin-could-be-worth-less-than-20k-in-2023-us-inflation-data-says.png)
“In inflation adjusted dollars, bitcoin is barely above the 2017 market peak,” BTCGandalf, the anonymous marketing officer at Bitcoin mining company Braiins, acknowledged on the topic this week.
Responses on X further noted that this calculation was based on official inflation numbers, meaning that in real terms, BTC/USD may even be lower than its previous cycle peak.
Others concluded — perhaps wryly — that the numbers underscored Bitcoin’s ability to function as a store of value, while BTCGandalf added that he was “surprised” that the issue had not received much publicity.
According to U.S. Debt Clock, national debt currently stands at over $32.7 trillion.
![](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2023/08/bitcoin-could-be-worth-less-than-20k-in-2023-us-inflation-data-says-1.png)
Bitcoin “bearadise” may come after Jackson Hole
U.S. inflation meanwhile continues to be a central focus for risk asset investors, including crypto bulls.
Related: Bitcoin on the way to ‘bearadise?’ $20K is back as a BTC price target
With official data pointing to a slowdown, hopes are being pinned on the Federal Reserve to match economic policy with perceived reality.
On Aug. 25, Fed Chair Jerome Powell will deliver a statement on policy at the annual Jackson Hole Economic Symposium — an event keenly eyed by those looking for a break of the current BTC price status quo.
“Prepared for a test of the lows and the potential for some whipsaw volatility,” Keith Alan, co-founder of monitoring resource Material Indicators, wrote in part of an X post on the day.
“A double bottom is a good foundation to bounce. A lower low paves the way to bearadise.”
An accompanying chart showed the BTC/USD order book on Binance still lacking significant liquidity above $25,000, increasing the chances of rapid moves.
![](https://wordpress-1016567-4521551.cloudwaysapps.com/wp-content/uploads/2023/08/bitcoin-could-be-worth-less-than-20k-in-2023-us-inflation-data-says.jpg)
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://cointelegraph.com/news/bitcoin-worth-less-20k-2023-us-inflation
- :has
- :is
- :not
- 000
- 2017
- 2023
- 25
- 7
- a
- ability
- above
- Account
- Action
- added
- Adjusted
- advice
- After
- Alan
- an
- and
- annual
- Anonymous
- Another
- ARE
- article
- AS
- asset
- At
- Aug
- back
- based
- BE
- being
- binance
- Bitcoin
- Bitcoin mining
- book
- Bottom
- Bounce
- Braiins
- Break
- BTC
- btc price
- BTC/USD
- Bulls
- by
- central
- Chair
- chances
- Chart
- Co-founder
- Cointelegraph
- come
- company
- concluded
- Conduct
- continues
- could
- crypto
- Current
- Currently
- cycle
- data
- day
- Debt
- decision
- different
- does
- dollars
- double
- double bottom
- Economic
- Economic policy
- Ether (ETH)
- Even
- Event
- Every
- Fed
- Fed Chair
- Fed Chair Jerome Powell
- Federal
- federal reserve
- First
- Focus
- For
- Foundation
- from
- function
- further
- gone
- good
- had
- he
- High
- Hole
- hopes
- However
- HTTPS
- if
- in
- Including
- increasing
- Indicators
- inflation
- into
- investment
- Investors
- issue
- IT
- ITS
- Jackson
- jackson hole
- Jackson Hole Economic Symposium
- jerome
- jerome powell
- keith
- lacking
- less
- Liquidity
- looking
- LOOKS
- Low
- lower
- Lows
- Making
- mark
- Market
- Marketing
- Markets
- Match
- material
- May..
- meaning
- meantime
- Meanwhile
- Mining
- monitoring
- move
- moves
- much
- National
- nearly
- noted
- now
- numbers
- of
- Officer
- official
- Old
- on
- or
- order
- over
- own
- part
- Peak
- per
- perceived
- performance
- perhaps
- plato
- Plato Data Intelligence
- PlatoData
- policy
- Post
- potential
- Powell
- practically
- previous
- price
- PRICE ACTION
- publicity
- purchased
- rapid
- reaching
- readers
- real
- Reality
- received
- recommendations
- reflects
- research
- Reserve
- resource
- Risk
- s
- says
- should
- showed
- significant
- since
- SIX
- Slowdown
- some
- Source
- Sources
- Spot
- stands
- Statement
- Status
- stayed
- Still
- store
- store of value
- Story
- Symposium
- tapping
- terms
- test
- than
- that
- The
- their
- this
- this week
- those
- to
- topic
- Trading
- TradingView
- Trillion
- us
- us inflation
- value
- Volatility
- was
- Way..
- week
- when
- while
- will
- with
- worth
- X
- years
- zephyrnet