Can you believe that Bitcoin has been around for ten years already? It’s unbelievable. Let’s explore the exciting history of Bitcoin’s Price.
At first, most people were very skeptical about the coin. The major concern that many people voiced was the coin’s volatility. Somewhere in this segment, you will learn of a time when the coin’s worth varied in terms of hundreds in a matter of hours. The following is a breakdown of the Bitcoin values in US dollars since its inception in 2009 and the possible causes of these changes in value.
2009
One of the most frequently asked questions is “what was the first value of the Bitcoin?”
Unfortunately, this value remains unclear because most transactions involving Bitcoins in its early stages were between individuals and their details were not readily available. The world is only left to speculate on this possible value. What most people know by now is that by October 2009, the value of one USD was 1,309.03 BTC. This was incredibly low value, probably just to raise people’s interest in the coin.
2010
The lowest value that the Bitcoin registered in 2010 was $ 0.01, a few months later this value was at $ 0.03, and the highest value registered for 2010 was $ 0.08.
At the beginning of the year, the first official cryptocurrency exchange called Bitcoin market was launched. A new and improved version of the coin called v0.3 is introduced, and the value increases tremendously to 0.08 USD per Bitcoin. Other cryptocurrency exchanges were also launched in the year. More people gained interest in the coin, towards the end of the year, its most pre-dominant value was 0.06 USD.
2011
The coin experienced a decent increase in value with its lowest value being $ 1, somewhere along the year this value increased to $ 2. The most impressive and highest value it recorded was $ 31.
It is around this time that the other alternative coins started to emerge. People started noticing the several weaknesses that Bitcoin had and sought to correct them. However, more people were still learning about the coins and even willing to invest in it. Several price factors had this value changing throughout the year. Unfortunately, the first Bitcoin theft occurred around June and the value started fluctuating again. Towards the end of the year, the Bitcoin value was at 17.5 USD per coin.
2012
The value was stable through most of the year, and it lay at $ 13.00.Bitcoin became a sensation in Hollywood. There was a fictionalized trial involving the coin in the CBS drama “The Good Wife” season three. The episode questions whether or not Bitcoin is a true coin. In March, the biggest Bitcoin theft ever occurred, and over 50,000 BTC were stolen after a security upgrade at Linode. Even so, more people learn about the coin, and there is an increase in the number of investors.
2013
By now, several businesses already accepted the coin as a form of payment. Charity organizations also began to accept Bitcoin donations which were unheard of before. Several conferences were held throughout the year in different locations in the world. At the beginning of the year, the value rose steadily from $ 31. 91 to $ 37.In March, there was a crazy surge. Can you believe that at one time the value dropped from $ 266 to $76 and then returned to $ 160 within 6 hours?
Towards the end of the year, this value was at $100.
Generally, 2013 was an uneventful year for Bitcoin until around December when the coin was banned in China, and its value saw a dramatic increase in other parts of the world especially America ($ 100- $ 1000).
2014
The lowest value registered in 2014 was $ 340, while the highest value registered was $ 1000. A documentary film about Bitcoin called “The Rise and Rise of Bitcoin” was created. It features Bitcoin users from programmers to general traders, and even one drug dealer was featured.
The price kept fluctuating throughout the year. By the end of the year, several light-hearted songs celebrating Bitcoin such as “Ode to Satoshi” are being released.
2015
The lowest value for Bitcoin established in 2015 was $ 200, while the highest value recorded was $ 504. This was not the most successful year for the coin, because instead of the value rising, it kept falling.
On the positive side, merchants adopted the coin in their transactions.
Unfortunately, hacking also became rampant with the major exchanges shutting down from time to time to counter the hackers’ damages. In August of 2015, Barclays announced that it would be the first high street bank to start accepting Bitcoin as payment. Also, they would facilitate charitable funds in Bitcoin outside of the Bank activities.
2016
The lowest value recorded in 2016 was $450, while the highest value recorded was $780.
Interestingly, as the Chinese Renmimbi depreciated against the USD, Bitcoin rose to the upper $ 700s. The cabinet of Japan acknowledges the coin is accepted as payment for years and other online activities. The coins expanded to different parts of the world even to South Africa with the largest exchange platform, and it was called Bidder-buy opening. As more people gained interest in the coin, more people researched about it, and more people invested in the coin too.
2017
The lowest value was $ 800, while the highest value was $ 17,000. By now, the coin was taking off, not only had it been integrated into several sectors of the economy but also its use was now worldwide. By 2017, it gained more acceptability with policymakers as well as legacy monetary businesses. Japan even approved a law to consent Bitcoin as a form of compensation. Even Russia and Norway provided a receptive welcome to the coin. Generally, the number of traders worldwide increases tremendously.
2018
The highest value was $ 6,200, while the lowest value was $ 3,700. This was probably the roughest year for cryptocurrency users. The coin price dropped steadily throughout the year.
2019
The highest value was $ 12, 024 while the lowest value has been $ 1237. It was revealed that the Iranian government which had earlier on banning the use of cryptocurrency was not only will accept them but also supports its use. The Asia session took place in April when an unknown buyer purchased 20,000 Bitcoins which amounted to $ 94 million. Indeed, the coin keeps on growing even though there are very few coins remaining to be mined.
2020
The highest value was $ 23,000 while the lowest value has been $ 6,483. This was the greatest year for cryptocurrency users.
2021
The highest value so far has been $ 63,004 while the lowest value has been $ 41,412.
