Bitcoin’s humble beginnings in 2009 do not reflect the dominant force it has become in the financial industry today. As more and more people are looking into the world of cryptocurrency, Bitcoin, as the best the crypto world has to offer, is becoming more and more valuable.
The rise of popularity in Bitcoin has a number of people looking into Bitcoin’s history and viability. In this article, we will take a look at the history of Bitcoin and its prices.
The Early Years
Bitcoin got its humble start in January 2009, when the first block of Bitcoin was mined by its creator, Satoshi Nakamoto. For the first year of its existence, Bitcoin’s value was an astonishingly low $0.0008, until 2010, when its value rose to $0.08. It is hard to believe that in a mere decade later, it is valued at thirty-four thousand dollars.
So how did Bitcoin go from a single token being priced at less than a dollar, to being worth close to an entire year’s worth of salary?
Bitcoin Price History
The first major jump in Bitcoin’s price was in 2011 when Bitcoin went from being worth a dollar to thirty-two dollars in a matter of two months. Though later in the year, the price saw a steep decline, it soon stabilized to be worth $5 by year’s end.
Two years later, in 2013 Bitcoin would experience a great degree of fluctuation, only to stabilize at seventy dollars in April of that year. This was followed by a rally in early October, when it was priced at $123. By year’s end, it had spiked to $760.
Though it may have seen a slump in 2015, Bitcoin’s height would come two years later, in 2017, when the cryptocurrency’s price charted an astonishing ascent from $900 in the year’s first quarter, to a, at the time, record-breaking high of $20.000. The years between 2016 and 2017 also saw an increase in cryptocurrency users, the number of which has only been increasing since then.
The Role of Crypto Trading Sites
With the growing popularity of both crypto and Bitcoin, enthusiasts are definitely able to find a suitable trading platform to trade cryptocurrencies. In recent years, crypto trading sites have become far more user-friendly, and easily accessible. In order to use these sites, all anyone needs to do is to register a username, password, and email, and start buying or selling their assets. Most of these sites provide top-notch safety and security measures, and services that will help you make the most out of your investment.
Also Read: How to Save Money in Your Family: Simple Tips for Any Budget
The Present State of Bitcoin
It was in 2020, during the economy shut down, that Bitcoin’s price and popularity really sky rocketed. The price of the cryptocurrency started at $7000 in the beginning of the year, but due to the pandemic shutdown and subsequent policies passed by governments, investors’ started looking into alternative investment paths, with many finding themselves to the crypto market. By the year’s end, Bitcoin was trading for over $18.000.
The pandemic had a devastating effect on the stock market, however, the stimulus checks that followed led to a shocking skyrocket in investments, with Bitcoin seeing an all-time high price of $40.000 dollars in the beginning of 2021. Since then, Bitcoin’s prices have seen a small decline, though most analysts predict a bright future for bitcoin, with many of them claiming Bitcoin will break records in the following years.
The Future of Bitcoin
Today Bitcoin is the most high-priced cryptocurrency, trading for thirty-five thousand dollars, with prospects for that number to rise even higher. Estimates suggest Bitcoin will reach a record-high of $100.000 dollars in following years. It is also worth noting that experts predict that by the next decade, 99% of all Bitcoins will be mined, at which point we may see a single Bitcoin token be worth an unprecedented $500.000.
