If you are interested in bitcoin then you should also know about the Bitcoin Price History which is most volatile. The price of the bitcoin has changed from time to time so much that you should know about. So in this article, we are going to discuss the changes that have occurred in the past. This can also help you decide if you are interested in a bubble or not.
Origin of the bitcoin was for a reason and that was to replace the fiat currency as a payment option. It came into the market in 2009 at that time its value was $0 but at present, it is $5,420.25. This is the reason you should look for this currency if you are looking to invest in the cryptocurrency.
Bitcoin Price History
When you look at the history of the bitcoin you will find that it has changed drastically from time to time. Even the changes in the price were not even small, it happened in thousands. Here are some of the instances when the changes happened and how it started its journey:
It is the year in which the bitcoin came into the market. At that time the price was $0 and stayed there for some period of time.
Even this year, the price of the bitcoin changed as it was expected from the makers. It did not even touch the mark of $1. The highest price in that year the bitcoin reached was $0.39.
This was the first year for the bitcoin when it rises up to $31. This was the highest price it touched but the bubble busted and at the end of the year, it came down to $2. In the following year though there was a steady rise and it reached $13.
The year 2014, when a lot of things happened. In this, a documentary movie called The Rise and Rise of Bitcoin was released in which there was an interview of programmers and a drug dealer.
Even the price of the bitcoin started to become volatile like in March it reached up to $700. This type of small changes kept on happening till 2017.
This year was the game changer for the bitcoin. The price change was so volatile that every major news channel started to cover it. This was the first time the price of the bitcoin reached the mark of $10,000 and come to the close of $20,000. But it was not able to touch that point.
Since then it was not able to get back on that Bull Run and there is a continuous down in the price of the bitcoin. Even at present, the price of the bitcoin is on a falling. There are a few instances when the price of the bitcoin rise but it always remains for a short period of time.
Factors affecting the price
If you think that the price of the bitcoin is affected in a similar manner of fiat currency then you are wrong. There are various factors which can be the reasons for the price of the bitcoin changes:
- Limited Number of Bitcoin
- The demand of the bitcoin
- It is considered as the digital gold as well as the currency of the future.
- Market manipulation
- Transparency and many more.
These are some of the many factors which make the people but the currency and more they are interested the higher the price goes.
As of now you know about the Bitcoin Price History you can use the information as you like. If you are interested in investing in the bitcoin then you can see that it is one of the most volatile currency which is at present going down.