This page tracks Bitcoin’s price history and returns from a Canadian point of view: year-end prices, the boom-and-bust cycles, its 5- and 10-year returns, and the Canadian regulatory timeline. It is one of our crypto and alternative investment guides. For buying, see how to buy Bitcoin in Canada.
Bitcoin Price History (Major Milestones)
All prices below are Coinbase daily closing prices (FRED series CBBTCUSD) in US dollars. That series starts in December 2014, so earlier years are not shown.
| Year | Key event | Year-end price (USD) | Change over the year |
|---|---|---|---|
| 2017 | Crypto boom; record high of the time in December | $13,863 | 1,324% |
| 2018 | Crypto winter | $3,692 | -73% |
| 2019 | Partial recovery | $7,158 | 94% |
| 2020 | COVID-19 crash in March, then a rally | $29,027 | 306% |
| 2021 | New record high in November | $46,245 | 59% |
| 2022 | Crypto winter; FTX collapses in November | $16,531 | -64% |
| 2023 | Recovery | $42,301 | 156% |
| 2024 | US spot Bitcoin ETFs approved in January | $94,384 | 123% |
| 2025 | New record high in October, then a pullback | $87,696 | -7% |
| 2026 | Decline to a low of $58,586 on June 30, 2026, then a partial recovery | $84,471 on September 24, 2026 | Year in progress |
Bitcoin Bull and Bear Cycles
| Cycle | Peak (daily close) | Bottom (daily close) | Peak-to-bottom change |
|---|---|---|---|
| 2017 to 2018 | $19,650 (December 16, 2017) | $3,183 (December 15, 2018) | -84% |
| 2021 to 2022 | $67,510 (November 8, 2021) | $15,756 (November 21, 2022) | -77% |
| 2025 onward | $124,720 (October 5, 2025) | $58,586 (June 30, 2026, lowest so far as of September 24, 2026) | -53% at that low |
After the first two of these declines, Bitcoin later rose above its previous peak. That is a short record, not a rule.
Bitcoin’s 5- and 10-Year Returns
| Period to September 24, 2026 | Start price (USD) | End price (USD) | Annualized return |
|---|---|---|---|
| 5 years | $42,817 | $84,471 | about 14.6% |
| 10 years | $604 | $84,471 | about 63.9% |
The result depends heavily on the start and end dates: a start near a peak or an end near a low changes the figure a lot. Long-run returns for stocks, bonds and other assets are covered in average stock market returns.
Past returns do not predict future performance. Bitcoin’s history is short and its returns may not repeat.
Canadian Regulatory Timeline
| Year | Event |
|---|---|
| 2013 | CRA fact sheet: using digital currency to pay for goods or services falls under the barter rules, and gains from buying and selling it can be income or capital |
| 2019 | QuadrigaCX collapses; the OSC later found about 76,000 investors lost at least $169 million |
| 2020 | Businesses dealing in virtual currency must register with FINTRAC as money services businesses (from June 1) |
| 2021 | Canada’s first spot Bitcoin ETFs launch in February (Purpose Bitcoin ETF) |
| 2022 | FTX collapses in November |
Bitcoin ETFs and taxes
Canada’s first spot Bitcoin ETFs launched in 2021, and several now trade on the TSX; the current funds and fees are compared in best crypto ETFs in Canada, and the choice between an ETF and the coins themselves in Bitcoin ETF vs buying Bitcoin directly. For the CRA, selling, trading or spending Bitcoin is a disposition, usually taxed as a capital gain, and a Bitcoin ETF held in a TFSA is tax-free. The rules, including how to calculate your adjusted cost base, are in the crypto tax guide.
Risks of Investing in Bitcoin
| Risk | Description |
|---|---|
| Extreme volatility | Each cycle in the table above fell by more than half from its peak |
| Regulatory uncertainty | Governments could restrict or ban Bitcoin |
| Exchange risk | Exchanges can be hacked or go bankrupt (QuadrigaCX, FTX) |
| No intrinsic value | Bitcoin generates no cash flow, dividends, or earnings |
| Tax complexity | Every sale, trade for another coin, and purchase paid in crypto is a disposition |
| Irreversible transactions | Sent to wrong address = gone forever |
| Environmental concerns | Proof-of-work mining uses significant energy |