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Bitcoin's Price History That You Should Know

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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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Published Tuesday, January 18, 2022 12:52 PM by David Marshall
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