The Price of 1 Bitcoin. A Brief Analysis

The era of Bitcoin started in 2009 when it was created by an anonymous genius. Since then we have been witnessing a very volatile trading history of the first cryptocurrency.

The price of 1 Bitcoin was close to nothing and today’s numbers make us surprise day by day. The crypto currency has experienced a number of ups and downs during its period of existence. Let’s have a closer look at the major waves of Bitcoin.

The very beginning of Bitcoin

Nobody can tell exactly who actually was the inventor of the great crypto coin. The crypto community is used to referring to the name Satoshi Nakomoto.

However, it might be a pseudonym for a person or a group of people who contributed to Bitcoin’s creation.

What we know for sure is that the creator or creators want to remain anonymous. In 2009, Bitcoin was released as open-source software and the first transaction was made with an early adopter of Bitcoin.

The first real-world transaction

Bitcoin started trading with the price for 1 Bitcoin from 0,0008$ to 0,08$. In 2010, we observe the first real transaction with the usage of Bitcoins. In Florida Papa John’s sold two pizzas for 10,000 Bitcoins. That time there wasn’t high interest in such a payment approach.

Mining digital coins was a completely innovative idea and it required computer power. However, with time Bitcoin started gaining more followers. In 2012 and 2013, more retailers were opening to use the cryptocurrency. At the same time, there was place for black market transactions to spoil Bitcoin’s “reputation”.

The price of 1 Bitcoin is rising

In 2013, crypto followers could already earn on Bitcoin’s volatility. The beginning of the year offered 1 Bitcoin for around 13.50$ and the price changed up to 220$ per coin. New exchanges and markets were entering the marketplace.

The ones in China played a huge role and influenced the price of 1 Bitcoin on the market. At the same time, the Mt. Gox exchange got involved into trading Bitcoins and covered around 70% of all the crypto transactions. The crash took place in Ferbuary 2014 when the Mt.Gox exchange was closed down.

Initially the site started as a platform for trading game cards. Having reformed into a market place of Bitcoins, over time the exchange was accused of fraud and went under.

Rises and falls of Bitcoin

The cryptocurrency was holding the stabilized price to some extend during 2015 and 2016. What we all remember is the Great 2017. In the autumn 1 Bitcoin cost 10,000$ and at the end of the year reached almost 20,000$.

It was the year when everybody got to know what Bitcoin was. It increased interest in world popularity and made a tremendous splash. Media had a lot to tell us and transmitted various scenarios for Bitcoin “bubble”. In April 2018, the price for 1 Bitcoin reduced to 7,000$ and it was below 3,500$ at the end of the year.   

What is 1 Bitcoin worth in 2019-2020?

In 2019 the price of the greatest crypto coin tended to be up to 10,000$ during the year with the usual volatile changes. Bitcoin started 2020 with the price 7,200$ and in December the price for 1 Bitcoin reached its peak with 24,000$.

However, it was not the end. Today the cryptocurrency has a value of almost 35,000$ per coin. Internet bursts out with predictions and possible scenarios for crypto investors. Who knows what is going to happen in the future with such kind of investments? Can we ask the whales? Will they say the truth?

What’s next?

If you are thinking about buying Bitcoin, you need to do a lot of homework beforehand. How to consider the risk and irresistible factors that are not under control? Investing in cryptocurrency is trendy, innovative and adventurous. Just in case, be sure that you won’t regret if you lose some sum of digital money.