From a humble beginning back in 2009,
Bitcoin has created quite a name for itself, becoming one of the best-invested
cryptocurrencies. Bitcoin is a type of digital currency that is more advanced
and offers lower transaction fees than traditional currencies. It was created
in 2009 by an unknown man who goes by the code name Satoshi Nakamoto.
At first, not many people showed interest
in Bitcoin since it was new to the market. It had a low value, but as time
passed, the price doubled and tripled. As we talk now, Bitcoin investors are
the next millionaires we will see. Bitcoin's price history is said to be
volatile, meaning that it keeps changing all the time.
Without further discussion, here is
Bitcoin's price history that you should know.
A Brief Look at Bitcoin's
Price History
Bitcoin price is said to have changed
over the past few years. Below is a brief explanation of this.
-
2009-2012 value - This is the early years of Bitcoin introduction to
investors. Therefore, not much can be expected. In these years, not many
bothered to invest, so the value was quite low. On the first day of
introduction back in 2009, Bitcoin's price was at 0, which later on increased
to $.09 in July of 2010. The price remained constant for the following months
until April 2011, when it changed again to $29.60. This must have brought a lot
of hope to investors. By now, people started to pay attention to bitcoin. The
value started to increase. After a few months of rejoicing and hopes, Bitcoin's
price dropped to $2.05 in November of 2011. That was not the end of it, though.
In May 2012, the price rose to a surprising $4.85 and continued increasing to
$13.50 in August.
-
2013- 2019 value - 2013 seemed to be an awesome year for Bitcoin
investors. In October, the value rose to $123.00, and by the end of December,
it had spiked to $1,237.55. Within three days of rejoicing, the value dropped
to a surprising $687.02. The price stayed almost the same throughout 2014 and
increased in 2015 to $715.21. From 2016 to 2019 the price continued to
skyrocket from $900 to $19,345.49. At this point, Bitcoin's price history
gained lots of attention from the governments and economists interested in
understanding how it works. Many studies focus on Bitcoin's price history
in-depth, and you can discover more here by simply reading.
-
In recent Years - In 2020, most businesses were shut down due to
COVID-19, but with Bitcoin, the prices never lowered. In fact, it increased to
a surprising $29,000 by the end of the year. In 2021, it even surpassed the
estimated price and rose to $67,549.14 in December.
What Exactly Is Expected of
Bitcoin?
There are a lot of predictions coming
from cryptocurrency experts about the future for Bitcoin. Well, what exactly
should we expect? Bitcoin is known for its volatile trait, and as you can see
from its recent history, there has been little to no drop in prices. What I'm
trying to say is that based on research, Bitcoin's price history could fall
again. To sum it up, many new cryptocurrencies are emerging such as Ethereum,
which is increasing in value in the same way that Bitcoin is. It's not clear
yet, but there could be a competition going on.
Conclusion
Bitcoin's price history is an intriguing
subject to research. It demonstrates how a small investment that was previously
ignored can one day change the way we invest. The preceding article discusses
some of the price changes that have occurred in the Bitcoin world.
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