Anyone who wants to invest in cryptocurrency will know Bitcoin (BTC), which is the most popular and leading cryptocurrency in the world. It was released in early 2009 and was the first cryptocurrency to record its transactions on a secure and decentralized blockchain-based network without fail.
Since Satoshi Nakamoto released it, Bitcoin has been experiencing mostly highs for the past decade. It is currently the largest cryptocurrency, based on data on its blockchain and market capitalization.
Bitcoin Prices in the Beginning
Although Bitcoin was released in 2009, it didn’t boom until 2013 when it started trading at $13.50 per BTC. The price shot up initially in April, going over $220, only to reduce to $70 in the same month.
Towards the completion of 2013, Bitcoin started to experience increases in its price. The value shot up from $200 to $1,075, mostly because of new miners and exchangers who became interested.
By the next year, the value became more stable, settling at $920 in the first month. But, by the next month, the cryptocurrency suffered from another crash. The Mt. Gox exchange was in charge of about seventy percent of all the currency’s exchanges. But when it applied for bankruptcy protection, the currency dropped to $580 within a month.
The price didn’t recover until the summer of 2015. But it took another hit in November of that year, trading around $360. By 2016, Bitcoin didn’t suffer from any other price changes. The price then shot up to $1,000 by early 2017.
The Dramatic Price Changes of Bitcoin
After early 2017, Bitcoin began to enjoy the progress. The price continued to rise in the fall of that year, and in October, it shot up to $5,000. It surprised investors again by growing to a whopping $10,000 in November and $20,000 in December. But this was seen as a price bubble, and it was proven when the price began to fall rapidly to $7,000 in April of the next year. By November 2017, Bitcoin had gone below $3,500.
But, as 2019 began, Bitcoin rose again in terms of its price and volume. It surprised investors by shooting all the way up to $10,000 in June, but then made a disappointing and drastic drop back to $7,000 at the end of the year.
In early 2020, Bitcoin reached a maximum of $10,000 and a low of about $5,000 because of the market crash in March. Recently, it reached the new peak of $18,000 per BTC. The currency is steadily recovering, and investors are hopeful for more highs.
Bitcoin Price Today
In November, Bitcoin experienced its highest price yet, rocketing all the way up to $18,208. The price has been compared to that of other cryptocurrencies, like 1 BTC to IOTA and more.
Final Take on Bitcoin Price
Bitcoin remains the best cryptocurrency investment you can make this year. As the leading cryptocurrency, it’s expected that it will continue to increase in price. Thus, you can benefit if you invest.
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