How bitcoin is performing today is a serious matter because a huge number of people have invested in it worldwide. A study shows that the number is more than 81 million as of March 2022. Predicting the future tendency of the asset is also important for investment purposes and Using Bitcoin the whole economy of the world.
But, why is it important to know its price history? Well, the alone present can’t decide an asset’s future potential. It is a whole thing to examine and understand, and based on its journey from the beginning till the date, its future can be predicted.
The Beginning of Bitcoins – 2009: How A Pseudonymous Person Created A Digital Currency
Bitcoin, the world’s first cryptocurrency or digital currency, was introduced in 2009 when the whole world was suffering from a global financial crisis. People almost lost their hope in traditional banks. Bitcoin’s creation was so significant for the contemporary situation, and it actually questioned the role of the traditional banking system and the trust of the people it needed to run.
A Year In Review: The First Trade And Price Rise Of 2010
In 2010 the first commercial transaction of bitcoin took place. As per the reports, a person from Florida bought two pizzas in exchange for a value of 10,000 Bitcoins. Since that incident, the market price of Bitcoins increased to $0.9 for the first time in history.
2011 to 2013:
From the Pizza incident, bitcoin’s price increased. On 13 April 2011, bitcoin jumped from $0.9 to $29.6. After that, a 2,960% growth in just three months was seen, which was quite a high. But, by the middle of November 2011, bitcoin’s price came down to $2.5.
The year 2012 was also good for bitcoin. In May, the price was $4.85, and in August, it reached $13.50.
2013 has witnessed a good amount of growth in bitcoin’s price. The year began at $13.28, and on 8 April, it rose to $230.
2014 to 2016:
These two years were not that memorable for bitcoin. The price moved from $841 in January 2014 to $952 in December 2016.
2017 to 2020:
At the beginning of 2017, bitcoin’s price started to gain again and reached $921.35 in January. After an overall continuous growth throughout the year, it gained a valuation of $13,062.15 in December.
From January 2018 to January 2019, bitcoin showed a fall in price from $9,914.47 to $ 3,441.03.In February 2019, it started growing again, and in June, it reached $12,028.08. In December, it again dropped to $7,251.28.
In January 2020, the price was $9,545, and through several ups and downs, it started increasing in September and reached $28,768.84 in December.
2021: How Bitcoin Became a Mainstream Sensation
2021 was a historical year for bitcoin because it was the year when its price reached an all-time high. It was a straight continuous growth from September 2020 to March 2021. On 7 January 2021, the price was $40,000, and in the middle of April, it reached over $60,000 for the very first time.
Further, it increased to $63,558 on 12 April 2021. After that, a sudden swing was found for a short period, and it dropped by 50%. But, on 10 November 2021, bitcoin’s price gained a massive amount and reached $ 68,796. It was a skyrocketing price for bitcoin from the beginning to till date. By the fall of 2021, it started dropping and ended the year at $46,164.
The Current State Of Bitcoins In 2022
In the current year of 2022, bitcoin is not performing well. In March, it reached $47,063.37 just one time, but after that, it was a continuous downfall to 28 May 2022 when the price became $28.646.65. But currently, bitcoin’s price is again increasing, but it is very slow growth. On 1 June 2022, it reached $31,865.75.
So, from the whole analysis of bitcoin’s price throughout its journey, it is proved that bitcoin is a highly volatile asset. Though, the volatility couldn’t stop traders frominvesting in it from various platforms like the This platform is backed by superior blockchain technology that assures you of the best and safe trading experience. Traders are really enjoying the volatility of bitcoin to earn multiple profits from every price swing.