Bitcoin has been getting some well-deserved attention lately as its value continues to escalate. Bitcoin is now having more practical applications. There are around 15,0000 companies that are now accepting Crypto Trading payments. You can book hotels, or travel tickets, and even pay your bills using Bitcoin. But with its high price tag, it can be hard to remember that Bitcoin hasn’t always been this popular.
Here’s a breakdown of Bitcoin’s price history from its inception in 2009 until now so you can see the ups and downs of Bitcoin’s journey and how the currency has changed over time.
How Did We Get Here?
In January 2009, the first-ever Bitcoin price was introduced in the market. At that time, the price of one single BTC was unimaginably worth less than a penny. In the years since, the price of Bitcoin has been on a rollercoaster ride, reaching highs and lows along the way. Below highlighted is a detailed overview of Bitcoin’s price history.
In 2010, Bitcoin caught mainstream attention thanks to a white paper posted on a cryptography mailing list. Written by a mysterious developer who called himself Satoshi Nakamoto, it laid out an idea for how to build electronic cash that people could use to pay for things online without having to rely on financial institutions like banks.
While other electronic payments systems existed, Nakamoto’s was peer-to-peer, meaning users paid each other directly rather than through a bank. This created immediate demand among digital privacy advocates and tech-savvy libertarians looking for alternatives to fiat currency.
The Early Days
Bitcoin’s price history is fascinating. The digital currency started off relatively cheaply, costing just a few cents per coin in 2010. Its price remained relatively stable for the next few years until it began to take off in 2013. By the end of that year, one Bitcoin was worth around $1,000.
The price climbed higher, reaching $1,000 per coin by December. By early 2014, one Bitcoin was worth over $1,200. Then in April that year, Mt. Gox, one of bitcoin’s biggest exchanges, collapsed and closed down. Many people who had stored bitcoins on their exchange lost them forever when they couldn’t access their funds.
The event sent Bitcoin into a downward spiral, and its price plummeted to below $300 per coin by November. The value soon recovered slightly but stayed mostly between $400 and $600 until late 2016 – far lower than previous highs reached in 2013.
The Bubble Phase
Bitcoin prices started to increase in 2013, and during that year, the price went from around $13 to over $1,100. This was a huge increase, and it led to what is known as the bubble phase. This was when people started buying Bitcoin without really knowing what it was, just because they thought it would keep going up in value.
Breaking Through $1000
The cryptocurrency had been slowly gaining traction throughout the year, but this was a major milestone. Now talking about November 2013, Bitcoin rose to $1000 for the first time ever in financial records history. Mainstream media coverage followed, and more people began to take notice of Bitcoin. The price remained volatile in the following months but continued to rise overall.
Bitcoin’s ascent continued in 2014. In January, it surpassed $2000 for the first time. Throughout much of that year, its value fluctuated as governments and banks issued warnings about its potential volatility and security risks. At times, Bitcoin also proved volatile, but it was one of the best-performing assets in 2015. By December 2015, it had risen to a peak of over $1000 per bitcoin before falling to below $600 during 2016’s first few months.
Bitcoin’s price history continued to be volatile in 2017 and 2018, with multiple dips coming at critical moments for cryptocurrency as a whole. That said, it is certainly on pace to rise above its previous all-time high.
Conclusion
Bitcoin has had a tumultuous but impressive price history at Bitiq; for more details, you can check out It has gone from being worth nothing to almost $20,000 per coin in just under a decade. It has experienced multiple crashes and rallies and is currently amid another price surge. Despite many ups and downs, Bitcoin ranks at the top as a well-known cryptocurrency worldwide.
