Investing in cryptocurrency, especially Bitcoin, has been popular for a long time. Bitcoin has continued to grow in popularity since its inception in 2009. Despite the emergence of several competing cryptocurrencies, Bitcoin has managed to keep its position at the top of the digital currency system. According to some estimations, Bitcoin has almost 1.1 trillion dollars market capitalization. Bitcoin is expected to be worth around twice as much as it was at the end of 2020 by 2021.
However, this does not implicate the presence of only laughter and rainbows. The thing about this digital currency is that it can embrace losses just as much as it embraces profits. As an as example, the market value of Bitcoin tends to go down more than 12% in just a matter of hours. In such a scenario, taking a look over the Bitcoin price history is a must for traders or potential investors.
Overview Of The Bitcoin Price History
This was the year an anonymous inventor created Bitcoin. The first value that Bitcoin started with was 0 dollars.
Fast forward one year, Bitcoin observed the first increment in its value in the year 2010. Unfortunately, the increase was not a very vast one. Not as many people knew about this potential digital currency in 2010 as do today. Hence, the first increase that Bitcoin saw in its value was about 10 cents by the end of 2010. Some reports showed up with a calculation that if someone had managed to invest a little over 100 dollars in Bitcoin in 2010, that person would be getting a return of about 8.6 million dollars. Yes, it is that unbelievably true.
The year 2011 was a rollercoaster ride for Bitcoin prices. In the early summer of 2011, the value of Bitcoin finally managed to touch 1dollar. The next few months were also favoring Bitcoin, increasing its value to about 30 dollars now. However, by the end of 2011, the value of Bitcoin was back to 2 dollars.
This was another year of a rollercoaster ride for Bitcoin. This year is known as a roller coaster because of the shooting prices. Within the first four months of 2013, Bitcoin managed to bring its value up to 100 dollars at last. This was not the milestone that Bitcoin achieved in 2013, however. By November 2013, Bitcoin managed to touch a thousand dollars as its value. However, the joy did not last long for bitcoin as by December, the estimated value of Bitcoin had dropped to 530 dollars.
The year 2017 showed up in the picture as a lucky year for Bitcoin. Its value touched almost 1400 dollars in May. Just ten days after that, the value rose to 1800 dollars. By the end of May, the value of Bitcoin achieved the milestone of 2000 dollars.
The year 2018 had managed to see a little decrement in the market value of Bitcoin. However, by the time 2019 ended, the value of Bitcoin managed to sustain at about 7000 dollars.
The year 2020 has been tough on most of the cryptocurrency investors. For Bitcoin, though, 2020 proved to be the boost it was waiting for all along. By December 2020, the value of Bitcoin had observed an increment of about 300% as it was when the year started. By the end of 2020, the value of Bitcoin was as high as about 30,000 dollars.
2021 has yet again been full of ups and downs for this digital currency. In the month of April, the value of Bitcoin rose to an unexpected sixty-five thousand dollars. That didn’t stop there; right after a month of achieving this milestone, its value dropped down to as low as 30,000 dollars again. As of November, the value of Bitcoin has been estimated to be about 67,000 dollars.
Every soon, the value of each Bitcoin is expected to reach a hundred thousand dollars. If you are a finance enthusiast in such a scenario, you should start investing in it right away. The leading platform for investing in https://bitcoinscycle.com/ . This app’s safe and secure environment enables traders and investors to purchase with ease. Start investing now!