Bitcoin appears to be one of the most popular and oldest cryptocurrencies. It began in 2011 and grew to a large extent by 2012. At first, the prices were very low. However, the growth of price on this platform was perceived as exponential in a short period.
History of bitcoin price
Bitcoin is a cryptocurrency that began at $0.30 in 2012 and has risen to $19783.06 in 2017. Now, in 2021, it has risen to $60,000. The market price of bitcoin, on the other hand, is determined by a variety of factors. However, its success rate is commendable. This is a thorough bitcoin price chart details that show how this site rose to such prominence.
The Electronic Frontier Foundation was the first to accept Bitcoin in the market in 2011, but it later ceased taking it owing to regulatory uncertainty. By 2012, the Bitcoin Foundation had been established, allowing 1000 investors to invest in it.
By 2013, the price of bitcoin had risen to $20. The cryptocurrency market received permission from the US Community Future Trading Commission (CFTC) later in 2014, marking the first step in the financial product’s approval process.
This period was seen to hack many exchanges. As a result, the bitcoin market went through a difficult period. However, not only did this have a detrimental influence, but it also had a good impact. The positive feature of this era was the opening of the 700 bitcoin ATM, which allowed people to access bitcoins readily.
By this age, the number of investors investing in bitcoins had skyrocketed. In 2017, the bitcoin price reached $20000, and then in 2019, it soared over $3000.
It had risen to $13000 by mid-2019 but had fallen by $4,800 by 2020.
The bitcoin price chart reached a high of $60,000 in October 2021. On the other hand, Cryptocurrencies have seen some price drops as a result of government regulatory speculation.
As a result, the bitcoin market had many ups and downs, but it grew enormously. It was regarded as one of the most active bitcoin markets.