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Introduction of Bitcoin

Jeremy
Jeremy Posts: 15037 Points

Among asset classes, Bitcoin has had one of the more volatile trading histories. The cryptocurrency’s first price increase occurred in 2010 when the value of a single Bitcoin jumped from around $0.0008 to $0.08. It has undergone several rallies and crashes since then. Some have compared the cryptocurrency (and its price movements) to the fad for Beanie Babies during the 1990s while others have drawn parallels between Bitcoin and the Dutch Tulipmania of the 17th century. 

The price changes for Bitcoin alternately reflect investor enthusiasm and dissatisfaction with its promise. Satoshi Nakamoto, Bitcoin’s inventor, designed it for use as a medium for daily transactions and a way to circumvent the traditional banking infrastructure after the 2008 financial collapse. Though the cryptocurrency has yet to gain mainstream traction as a currency, it has begun to pick up steam through a different narrative—as a store of value and a hedge against inflation.

Though this new narrative may prove to hold more merit, the price fluctuations of the past primarily stemmed from retail investors and traders betting on an ever-increasing price without much grounding in reason or facts. But Bitcoin's price story has changed in recent times. Institutional investors are trickling in after the maturing of cryptocurrency markets, and regulatory agencies are crafting rules specifically for them. Though Bitcoin price still remains volatile, it is now a function of an array of factors within the mainstream economy, as opposed to being influenced by speculators looking for quick profits through momentum trades.

Bitcoin Price History

For the most part, Bitcoin investors have had a bumpy ride in the past roughly 13 years. Apart from daily volatility, in which double-digit inclines and declines of its price are not uncommon, they have had to contend with numerous problems plaguing its ecosystem, from multiple scams and fraudsters to an absence of regulation that further feeds into its volatility. In spite of all this, there are periods when the cryptocurrency’s price changes have outpaced even their usually volatile swings, resulting in massive price bubbles.

The first such instance occurred in 2011. Bitcoin's price jumped from $1 in April of that year to a peak of $32 in June, a gain of 3,200% within three short months. That steep ascent was followed by a sharp recession in crypto markets, and Bitcoin's price bottomed out at $2 in November 2011. There was a marginal improvement the following year, and the price had risen from $4.80 in May to $13.20 by Aug. 15.        

2013 proved to be a decisive year for Bitcoin's price. The digital currency began the year trading at $13.40 and underwent two price bubbles in the same year. The first of these occurred when the price shot up to $220 by the beginning of April 2013. That swift increase was followed by an equally rapid deceleration in its price, and the cryptocurrency was changing hands at $70 in mid-April.

But that was not the end of it. Another rally (and associated crash) occurred toward the end of that year. In early October, the cryptocurrency was trading at $123.20. By December, it had spiked to $1,156.10. But it fell to around $760 three days later. Those rapid changes signaled the start of a multiyear slump in Bitcoin's price, and it touched a low of $315 at the beginning of 2015.

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Comments

  • stiwe
    stiwe Posts: 45 Points
    c'est une bonne chose de faite car le betcoin ne fini pas de nous surprendre. Même si quelque temps le bitcoin descent ça n'affecte pas trop les trader qui use de cette money là. merci à bitcoin
  • stiwe
    stiwe Posts: 45 Points
    nulle doute que le btc est la monnaie la plus fort du 21ème siècle et pour les années à venir. je fais confiance au gent qui l'utilise pour bientôt nous faire plus de rendement à vie
  • Yvon007
    Yvon007 Posts: 130 Points
    je trouve bien que Bitcoin est très bon pour les plans tarriffaire ....et pour une grande idée je voie bien que qu'on l'utilise pour faire sur le plans Trading il est a une valeur très énorme 
  • Damilola247
    Damilola247 Posts: 156 Points
    Bitcoin is a peer to peer cryptocurrency invented in 2008 by a so called faceless Satoshi Nakamoto.Bitcoin is the first ever Cryptocurrency to be invented and the biggest crypto in market value.It helps in the in the decentralization of currency that is there is no Government interference and no central bank.Bitcoin is been widely adopted all over the world as a legal means of payment and transaction.
    El-Savador is the first country to recognize and adopt Bitcoin as a legal tender.Bitcoin is mined by miners making it a scarce store of value.
    Bitcoin is an asset of investment and available to trade like other Fiat currencies in the Forex market.
  • Maria123
    Maria123 Posts: 240 Points
    Bitcoin oh it's a nice app to earn money  here we can earn money easily by doing simple  task in some app or website we earn Bitcoin just by mining    
  • Maria123
    Maria123 Posts: 240 Points
    I think Bitcoin its a super mind blowing app of earning money and the other reason  that I have to earn Bitcoin us its value in market  superb and Fabolous 
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