Bitcoin Price usd
The price of bitcoin is notorious for being extremely unpredictable, yet despite this, it has grown by an astounding 9,000,000% between 2010 and 2020 to become the best-performing asset of any type (including equities, commodities, and bonds) during the previous decade.
As Satoshi Nakamoto mined the bitcoin genesis block, the first ever block on the Bitcoin blockchain, at the beginning of 2009, 50 BTC entered the market at a price of $0,00076.
Up to the first halves event in November 2012, fifty bitcoins per block (produced once every ten minutes) entered circulation (see below).
Halvings relate to the issuing method for bitcoin, which Satoshi Nakamoto included into the source code.
Basically, it entails automatically reducing by half the quantity of new Bitcoins entering circulation each day 210.000 blocks .
The price of BTC initially matched that of the US dollar in February 2011.
The achievement attracted more investors to the market, and over the following four months, the price of bitcoin grew steadily until it reached a high of nearly $30.
Early in 2013, the market leader Bitcoin had bounced back from a protracted negative trend and briefly surpassed $1,000.
But it took an additional four years for the price of bitcoin to rise beyond $1,000 once more due to events like the infamous Mt Gox attack, China’s announcement of its first crypto ban, and other circumstances.
But when it crossed that threshold, the price of bitcoin shot up sharply throughout 2017 until it reached its previous all-time high of $19,850, where it peaked.
Over the course of 2018, the whole cryptocurrency market fell into a bear market dubbed as the «crypto winter,» which lasted an entire year.
It wasn’t until December 2020 that bitcoin eclipsed that historical milestone and climbed another 239% over the next 119 days to a new all-time high of $64,799 that it tested the previous record.