If you are a confident user of the cryptocurrency exchange process, you definitely know what bitcoin (BTC) is. Even if you are here by accident, most likely, you have heard of the notion of “bitcoin.” It might turn out that you do not know how crypto markets function, how cryptocurrency actually works, and when the first cryptocurrency was launched. In any case, the term “bitcoin” is something you definitely ran into at least once in your life.
The first cryptocurrency, which was created at the very beginning of 2009, was bitcoin. If you are not much into the history, you probably do not know who Satoshi Nakamoto is. Satoshi Nakamoto and his team are responsible for the appearance of bitcoin as such.
But, probably, you have heard of such notion as “satoshi.” Satoshi is the smallest unit of bitcoin to be sold, equal to 0.00000001 of bitcoin. Bitcoin’s price is rather high nowadays, and hardly you can buy even one bitcoin just like that. But, the price of one satoshi (which its creator used to call “one cent”) is not too high, and almost every person can afford to get one or more satoshi to start trading and practice exchange.
Of course, bitcoin is not the only cryptocurrency available on the crypto market, but probably, one of the most expensive ones. Check yourself: think of how many other cryptocurrencies you can name without preparation (bitcoin (BTC) does not count!). Virtual currency is an independent, self-sufficient, world-popular digital currency used in uncontrolled transactions, allowing bitcoin users to avoid communication with banks or other financial services.
An easy Internet search will provide you with numerous options of crypto available for the exchange, among which are Ethereum (Eth), Litecoin (LTC), Dogecoin (Doge), XRP, Bitcoin Cash (BCH), and many others.
Of course, we cannot state for sure that bitcoin or any other cryptocurrencies will replace traditional fiat currency for the entire humanity. We agree that it becomes a more and more popular procedure to buy bitcoins (or “pieces” of bitcoins) for everyone, even those far away from the peculiarities of work of this “bitcoin network.” For professionals, trading volume grows as well. But it is always important to remember about the bitcoin price and its fluctuations before you start trading. Let us now delve into the topic of “Bitcoin All-Time High.”
Bitcoin Price
First of all, let us try to understand how the process of the bitcoin’s price formation works. Actually, it is not that complicated as it might seem at first sight.
Basically, bitcoin price has its base in the traditional supply and demand rule. According to this rule, if the demand for the product goes up, the price grows correspondingly, and vice versa: with the decrease of demand, the price falls as well, but it simply.
Thus, if many people get interested in bitcoin deals, and if they start investing in this cryptocurrency, its price will grow up. This is a positive scenario. But if one day every single user of the trading platforms will decide to sell it and will no longer be interested in it, bitcoin’s price will inevitably fall.
Bitcoin’s price reached its peak on December 18, 2017. It cost approximately 19.5 thousand dollars at the moment (to be more precise, $19.498,63). The market cap (market capitalization) of more than 325.000 billion dollars was brought by the total supply equal to more than 16.5 million bitcoins.
First Bitcoin Transactions
October 12, 2009, was a significant day for the future bitcoin prices development. On this day, the first bitcoin payments were conducted. Martti Malmi, a developer who had a hand in creating new coins, sold 5050 bitcoin units. Do you know how much it was bitcoin worth after this deal? In the early days of Bitcoin, it received a value of $0.0009. But it was just the beginning.
During all these years, bitcoin prices fluctuated a lot. For example, let us take the previous year. Before October 2020, the bitcoin price almost did not change, being equal to approximately $9.000. After October, the growth started. By the 8th of January, 2021, the price of bitcoin was already nearly 40.000 dollars, and it was the peak for January. After that, the price of bitcoin fell, but not too much.
The bitcoin price began to increase from the beginning of February, reaching its peak at approximately $63.000 on 13 of April. And its price history is not over yet — we do not know how this rollercoaster will behave in the future. However, according to the forecasters, the bitcoin price will only increase.
Significant All-Time High (ATH) Moments
Bitcoin’s history is indeed an unusual journey to follow if we consider prices. Let us start with the lowest price of it (not generally, but in our improvised rating).
213 dollars: April 9, 2013
This happened mainly because of the bail-in crisis in Cyprus. A financial crisis, which happened in 2012 and 2013, made local residents think carefully about their funds. When people were no longer confident in the banking system, they started to pay attention to another asset class — virtual currencies. This mid-April event brought to the first significant bitcoin hit, and this is when this currency “overstepped the mark” in 100 dollars.
1242 dollars: November 29, 2013
Half of the year later, the next ATH took place. Now we are talking about bitcoin’s breaking the first $1000 mark.
Bitcoin underwent the so-called fear of missing out (FOMO): this feeling by people made them buy bitcoin more, making its price go up.
19,498.63 dollars: December 18, 2017
This was when almost all cryptocurrencies faced an increase in value. Approximately 33% — this is how much of the cryptocurrency market cap dominance was given to bitcoin at that moment.
Such an increase was explained mainly by the crypto speculations. Different bitcoin exchanges claimed bitcoin price to be different, with some stating that it was more than 20.000 dollars and others — that it was slightly less. Anyway, bitcoin managed to hit a new record
12,907 dollars: June 26, 2019
By 2019 bitcoin’s crypto market cap dominance increased to 65%. This global growth of bitcoin price can be explained by the increase of interest displayed by institutional investors. Digital currencies attract more and more attention among investors since they seem to be an efficient long-term investment. The chances are that more and more services will begin accepting bitcoin in the future.
Additional Information Concerning ATH
- Can we wait for the new ATH and when?
Since the bitcoin price is a rather unstable issue, it is tough to predict when exactly user funds will get changed by the following ATH.
The forecasters claim that we can expect Bitcoin halving to happen. And this will again happen because of the simple demand and supply rule.
- How much was bitcoin worth during the ATH in other currencies?
We obtain the information that bitcoin’s ATH for each currency was on December 17, 2017.
To be more precise, the situation was following:
- 14,585.73 GBP (pound sterling)
- 25,400 AUD (Australian dollar)
- 1,244,704 INR (Indian rupee)
The Final Word
As we see, bitcoin’s price history differed depending on the dates. And yet, this cryptocurrency remains to be one of the most popular and the most recognizable among others on the market. More and more people want to buy bitcoin because they see it as something worth it. If you feel like you are far from various services or android apps, you can read more about bitcoin ATMs, which are an alternative way to buy cryptocurrency. Or, you can always try yourself in bitcoin futures trading (which does not involve bitcoins in their natural form).
If you decide not to trade cryptocurrencies but to mine them (as an alternative way to get bitcoins), check the block reward. Nowadays, the reward for processing one block is slightly more than 6BTC.
For better or for worse, we cannot state for sure if bitcoin will be able to overcome its next resistance level. Some state that this currency is almost dead, but the majority of experts disagree with this position.
Choose an exchange platform that fits your interests and meets your expectations. Before that, we recommend getting a profile on any cryptocurrency-focused forum to track news and learn more. There you will be able to personalize content (content measurement tools might be helpful), get personalized ads and audience insights, store and access the information you need using unique identifiers. In other words, it will process personal data to help you on the way to knowledge of the cryptocurrency world.
FAQ
How much would I have if I invested $1000 in Bitcoin?
Keeping in mind that the price of bitcoin is slowly growing, the investment equal to $1000 a year ago would have brought you approximately $7100 in a year.
What will bitcoin be worth in 2030?
Opinions about the forecasts concerning the value of bitcoin in 2030 vary. And yet, there is a popular suggestion that it will be worth more than $100.000 by 2030. As we know, the forecasts are usually done based on the currently available data, so it might not be far from reality.
How low can bitcoin go?
Following the logic of cryptocurrencies, hypothetically, the price of bitcoin can be equal to zero, but this is far from reality. The good news is that bitcoin cannot go negative. In the nearest future, a significant drop in the price of this currency is not expected.
I bought bitcoin years ago; how do I find it?
You have to obtain at least some kind of information about your asset. It might be the original wallet, the exchange platform, a private key — anything that will help you.
