Focus on the History and Trend of Bitcoin Price
2022-01-25 10:39:11
Take A Look at Bitcoin Price Over The Years
The price of bitcoin is notoriously volatile, nevertheless, it has been the best-performing asset of any category over the past decade surpassing contemporaries such as stocks, commodities and bonds.
It has risen sharply by 9,000,000% between 2010 and 2020. In the beginning of 2022, bitcoin price was almost twice as much as it was in January 2021. Compared with other cryptocurrencies, bitcoin has a broader historical record. Here’s a quick rundown of Bitcoin’s past, which is full of the same ups, downs, and big swings that we saw throughout 2021.
Start from “0” in 2009
When the cryptocurrency was launched at the beginning of 2009, as Satoshi Nakamoto mined the bitcoin genesis block (the first-ever block on the Bitcoin blockchain), 50 BTC entered circulation at a price of $0.00.
The First Jump in 2010
Bitcoin's first "big" rise occurred in the summer of 2010, from less than a cent in the spring to $0.09 in July. Except for a very small number of technical experts and financial enthusiasts, few people know enough about bitcoin to buy it. By October 2010, bitcoin price was about US $0.10.
Reached Parity with the U.S dollars in 2011
In February 2011, bitcoin price reached parity with the U.S dollar for the first time. The milestone encouraged new investors into the market. Over the next four months, it continued to rise, with the bitcoin price live peaking at over $30.
Broke $1,000 in 2013 — Fell and Fluctuated from 2014 to 2016 — Broke $19,850 in 2017
By early 2013, bitcoin, the leading cryptocurrency, had recovered from a long bear market and risen above $1,000, though only briefly. But with the notorious Mt Gox hack, China put its first ban on crypto, it took a another four years for the bitcoin price to return to above $1,000 again. Then after years of price fluctuations ranging between $100 and $900 from 2014 to 2016, bitcoin price continued to surge dramatically throughout 2017 until it peaked at its previous long-standing all-time high of $19,850.
More Ups and Downs from 2017 to 2019
Owing to media publicity and the steep rise in Bitcoin’s price, the crypto industry started to take off. Thousands of altcoins were minted to trade in exchanges, such as Gate.io with 1000+ altcoins to trade.
Bitcoin price moved sideways during this time, with a few small spikes. The highest peak was in January 2018, around $17,527. “I went from having millions of dollars in crypto, to having a couple of hundred thousand,” Nelson Merchan recalls, CEO of the blockchain events firm Light Node Media.
However, in the next months of 2018, the entire crypto market plunged into what is now known as the “crypto winter” – a yearlong bear market. The lowest dip was around $3,236 in December 2018. At the end of 2019, Bitcoin’s price was about $7,200.
Accelerate to Increase in 2020
With COVID-19 leading to economic stagnation, people were worried that the U.S dollar would face inflationary pressure, so bitcoin price began to accelerate. By December 2020, it had increased by over 300% since January. The year ended at a price of about $29,374 — the highest it had ever been.
Usual Volatility in 2021
Though the price of bitcoin has almost doubled since January 2021, bitcoin price still suffered the usual volatility. We saw Bitcoin soar to an all-time high over $64,000 in the first half of 2021, and then quickly fall back to less than $30,000. Bitcoin hit another all-time high over $68,000 in November. Some experts said that the price of bitcoin will exceed $100,000. It’s only a matter of time.
Bitcoin Price future prediction
According to conservative predictions, bitcoin price will reach $100,000 by 2023, but more bullish crypto enthusiasts say $250,000 isn’t far from sight. Major financial institutions are also throwing their own predictions into the debate. JPMorgan predicts that this figure will reach a long-term high of $146,000 by 2022, and Bloomberg expects it to reach $400,000.
Since bitcoin (and cryptocurrency in general) is so novel, price forecasts are mostly based on speculation. Therefore, financial planners recommend investing only in cryptocurrencies that you can afford to lose.
The price of bitcoin is notoriously volatile, nevertheless, it has been the best-performing asset of any category over the past decade surpassing contemporaries such as stocks, commodities and bonds.
It has risen sharply by 9,000,000% between 2010 and 2020. In the beginning of 2022, bitcoin price was almost twice as much as it was in January 2021. Compared with other cryptocurrencies, bitcoin has a broader historical record. Here’s a quick rundown of Bitcoin’s past, which is full of the same ups, downs, and big swings that we saw throughout 2021.
Start from “0” in 2009
When the cryptocurrency was launched at the beginning of 2009, as Satoshi Nakamoto mined the bitcoin genesis block (the first-ever block on the Bitcoin blockchain), 50 BTC entered circulation at a price of $0.00.
The First Jump in 2010
Bitcoin's first "big" rise occurred in the summer of 2010, from less than a cent in the spring to $0.09 in July. Except for a very small number of technical experts and financial enthusiasts, few people know enough about bitcoin to buy it. By October 2010, bitcoin price was about US $0.10.
Reached Parity with the U.S dollars in 2011
In February 2011, bitcoin price reached parity with the U.S dollar for the first time. The milestone encouraged new investors into the market. Over the next four months, it continued to rise, with the bitcoin price live peaking at over $30.
Broke $1,000 in 2013 — Fell and Fluctuated from 2014 to 2016 — Broke $19,850 in 2017
By early 2013, bitcoin, the leading cryptocurrency, had recovered from a long bear market and risen above $1,000, though only briefly. But with the notorious Mt Gox hack, China put its first ban on crypto, it took a another four years for the bitcoin price to return to above $1,000 again. Then after years of price fluctuations ranging between $100 and $900 from 2014 to 2016, bitcoin price continued to surge dramatically throughout 2017 until it peaked at its previous long-standing all-time high of $19,850.
More Ups and Downs from 2017 to 2019
Owing to media publicity and the steep rise in Bitcoin’s price, the crypto industry started to take off. Thousands of altcoins were minted to trade in exchanges, such as Gate.io with 1000+ altcoins to trade.
Bitcoin price moved sideways during this time, with a few small spikes. The highest peak was in January 2018, around $17,527. “I went from having millions of dollars in crypto, to having a couple of hundred thousand,” Nelson Merchan recalls, CEO of the blockchain events firm Light Node Media.
However, in the next months of 2018, the entire crypto market plunged into what is now known as the “crypto winter” – a yearlong bear market. The lowest dip was around $3,236 in December 2018. At the end of 2019, Bitcoin’s price was about $7,200.
Accelerate to Increase in 2020
With COVID-19 leading to economic stagnation, people were worried that the U.S dollar would face inflationary pressure, so bitcoin price began to accelerate. By December 2020, it had increased by over 300% since January. The year ended at a price of about $29,374 — the highest it had ever been.
Usual Volatility in 2021
Though the price of bitcoin has almost doubled since January 2021, bitcoin price still suffered the usual volatility. We saw Bitcoin soar to an all-time high over $64,000 in the first half of 2021, and then quickly fall back to less than $30,000. Bitcoin hit another all-time high over $68,000 in November. Some experts said that the price of bitcoin will exceed $100,000. It’s only a matter of time.
Bitcoin Price future prediction
According to conservative predictions, bitcoin price will reach $100,000 by 2023, but more bullish crypto enthusiasts say $250,000 isn’t far from sight. Major financial institutions are also throwing their own predictions into the debate. JPMorgan predicts that this figure will reach a long-term high of $146,000 by 2022, and Bloomberg expects it to reach $400,000.
Since bitcoin (and cryptocurrency in general) is so novel, price forecasts are mostly based on speculation. Therefore, financial planners recommend investing only in cryptocurrencies that you can afford to lose.
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