Bitcoin, the oldest and first of all Cryptocurrency, is a digital asset that uses cryptography to control the creation of currencies and their management. The advent of Bitcoin dates back to 2009, when the concept of Crypto investment was coming into the market. It has grown rapidly and proved to be an important repository in online and offline fields. However, one year after its advent, few big businesses began accepting Bitcoins as a currency besides the conventional ones. Blockchain is a digital public ledger devised to store and exchange Bitcoins safely and securely. Crypto has quickly escalated into mainstream adoption owing to its towering popularity. Sign in on popular platforms to start bitcoin trading.
The lowest and highest price of bitcoin:
One year after it entered the mainstream finance sector in 2010, Bitcoin received its first value of 0.9 US dollars in July 2010. The year 2021, however, saw its highest scaling regarding value orientation. The price of Bitcoin rose to a monstrous amount of nearly 67,566.83 US dollars. This height was achieved at the closing of the year, which was on 8th November 2021. This steep rise was, however marked by certain ups and downs.
The early years of bitcoin (2009-2015):
Initially beginning with zero price, Bitcoin received its first value in the form of 0.9 US dollars in 2010. This time its price increased from 1 dollar to a staggering 29.60 US dollars by June 2011. The first hurdle that Bitcoin faced was at this time when it witnessed a sharp recession in the markets of Cryptocurrency. Prices of Bitcoin fell. The fall was as devastating as 2.05 US dollars in the middle of November. Apart from such a drastic fall, there was an average rise in its price value as it rose from 4.85 US dollars on May 9th to 13.50 US dollars in the middle of August.
2012 was, however not a very fruitful year for Bitcoin. There was no such notable rise in its pricing. Tables turned by 2013 as the platform witnessed strong gains and a rise in the price value. The rise was worth all appreciation as the platform began the year with 13.28 US dollars and made a huge leap to 230 US dollars by April. But again, faced with deadlocks, the value fell to 68.50 US dollars within a few weeks. It also rose to 1,237.55 US dollars and fell to 687.02 in three days. The year 2014, however, was not that good for Bitcoin, but 2015 brought hope as it began with a value of 315.21 US dollars.
The mid-age of bitcoin (2016-2020):
Prices started climbing with the passing of every year. 2016 witnessed the prices increasing and revolving around 900 US Dollars. The year 2017 saw a gradual rise in the prices of around 1000 US dollars. However, the stars were on their side as the price of Bitcoin reached 2000 US dollars in the mid of May same year. The year’s closing witnessed a humongous rise in prices to 19,345.49 US dollars in the middle of December. 2018 and 2019 have not been that eventful for Bitcoin, as the price value tended to drift sideways. This was when the price of Cryptocurrency busted out. Bitcoin had begun the year with a staggering value of 6,965.72 US dollars at the beginning of the year.
The present time of bitcoin (2021- Till Date):
Bitcoin prices reached 40,000 US dollars in the first week of January. There was no turning back as the price rose to 60,000 US dollars by mid-April. During summer, the prices went down by 50 percent. September again witnessed a steep rise in the prices at 52,693 US dollars. November of 2021 saw an all-time rise in the value of Bitcoin at 68,789 US dollars surpassing all previous records. The year 2022 has been an average performing year for bitcoin. Prices declined from 47,445 US dollars to 28,305 US dollars. However, this was not the end.
Conclusion:
Although witnessing substantial ups and down in its price, Bitcoin has attracted investors from all around the world who are investing in it through various reputed platforms. It has already been the hot favorite for traders and investors and has a long way to go and sustain profitably.