Among all the cryptocurrencies doing the rounds in the market, Bitcoin is one of the most popular and talked-about cryptocurrencies. If you go through your social media, you will understand that Bitcoin is still the rage of the crypto market. But no matter how much ever it is talked about, it is still a very volatile asset that you must be careful about. Looking for a secure Crypto trading platform check bitcode-prime.cloud trading platform.
Bitcoin, a cryptocurrency that is a digital asset, uses cryptography to command its creation and management as well. It does not have central command governing its rules and regulations and controlling it. It is totally independent, unlike the fiat currencies of various countries. Once when it was just invented, it was considered a medium of exchange, but today it is considered a store of value. Thus, its price history is of importance. It must thoroughly be studied if you want to invest in the crypto market.
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The Price History Of Bitcoin
Bitcoin was invented in 2009, but it was relatively unknown till then. But history proves that Bitcoin was used in retail trading when two pizzas were bought for 10,000 Bitcoins. This happened in a restaurant in Florida. And this made the day celebrated as Bitcoin Pizza Day for all crypto lovers. This happened in 2010.
The price of Bitcoin fluctuates mainly because of the investors and traders who bet on the ever-increasing price of the coin. But this happens only because they go on anticipating. Thus, you can see that the Bitcoin market runs more on emotions rather than on practicality.
2009 – 2015
When Bitcoin began in 2009, its value was just zero. Slowly its price began rising, and it became $0.09 at one go in 2010. From $1, it became $29.60 in 2011, which is a gain of 2,960% in a span of three months. Then began its downfall, and by mid-November, it became $2.05. And in 2012, by August, it became $13.50. 2013 it started gaining and became $230 but again fell to $68.50 in July. It went on fall through 2014 but touched $315.21 at the beginning of 2015.
2016 – 2020
2016 saw a rise in the price of Bitcoins to over $900 by that year’s end. In 2017, it became $1,000, and in mid-May, it broke all records and became $2,000. By the end of that year, its price became an astronomical $19,435.49 in December. It was then that the entire world shook up and began taking a note of Bitcoins on a more serious note.
But unfortunately, the coin being very volatile, experienced a fall in mid-December to about $6,635.84. Then in 2020, its market activity began to shut down temporarily due to the outbreak of the covid pandemic, which crushed the mainstream economies also of every country. But with, the mainstream economies were also failing, and the various government policies made investors again turn to Bitcoin, which helped to accelerate the growth of the cryptocurrency. So by the end of December 2020, the price of Bitcoins will become $29,000.
2021 – Present Day
At the beginning of 2021, Bitcoin broke its all-time record of increase and became $40,000in January itself. In April of the same year, the coin achieved an all-time high of $60,000. Its price went on the upward rise because of the interest of global personalities of reputation and high worth and big institutional interest. This made the price surge up to $63,558 in April.
Again the summer of that same year, the prices fell by half to become $29,79,6, but in September, they again touched $52,693. Unfortunately, two weeks later, it became $40,710. In November 2021, it again became $68,789. In December, the prices fell to $46,164 and fluctuated since then because of the emergence of the Omicron virus. In June 2021, the prices dropped and became $23,000.
Bitcoin started at $46,657.53 in 2022. And the price predictions are that the coin is set to touch $50,000 by the end of the year.
It is time alone that can say how much and when the prices of Bitcoin will rise or fall. But whatever the circumstances are, Bitcoin has risen massively since it was invented in 2009.