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How Much is One Bitcoin Worth?

How Much is One Bitcoin Worth?

Bitcoin stands out from the many others, and we have its long-standing history to thank. Created in 2009 by the intelligence of Satoshi Nakamoto, we have seen how Bitcoin has grown to be one of the most significant digital currencies in the cryptocurrency market. However, for traders, their focus has not been on whether it was the first currency or the most secured; it has been on the price.

Over the years, Bitcoin is said to have one the most volatile trading histories with unpredictable price regimes. The price of Bitcoin is not what it has always been. There are times we have seen the price go so high, and other times when it has dropped so low.

In this article, we shall be attempting to understand what Bitcoin’s price history has been, its current price, and the significant factors responsible for the price changes.

The History of Bitcoin Price

Bitcoin has been around for over 13 years now. We have seen daily volatility, price decline, issues of insecurities, and many other challenges the cryptocurrency marketplace has recorded. Let’s try to zoom the lens to the price changes Bitcoin has recorded over the years.

In 2011, Bitcoin was valued at $1 in April, and two months after, its price rose to $32. No doubt, that was a happy period for many investors. However, it didn’t last long as there was a massive decline to $2 in November of that same year.

Another year worthy of reference for Bitcoin price is 2013. In January, Bitcoin was $13.5 per cryptocurrency, and by April, the price had gone up to a whopping $220 per Bitcoin. However, as you will expect, that didn’t last long as the price dropped to $70 about two weeks after. Interestingly, by October of 2013, traders saw an increase in price to $123.

For many, it was expected that after some months, the price would drop. To everyone’s greatest surprise, there was an unprecedented acceleration that saw Bitcoin move up to $1,156. But, the coin’s volatility came to play three days later as it dropped to $760.

2017 was another year Bitcoin recorded a price bubble as it was valued at $1,000 by January. It dropped a bit to $975 in March but shot up to an unimaginable $20,000 in December 2017. It was at this point people showed more interest in investing in Bitcoin. Developers also started creating more digital currencies following Bitcoin’s model.

In 2019, Bitcoin’s price surpassed the landmark $20,000 but fell to about $7,112 by the end of the year. The pandemic of 2020, though affecting the economy of nations, had a positive impact on Bitcoin. Despite starting at $7,200 in January, it was valued at $18,353 by November the same year.

The Biggest Bitcoin Price

Many crypto traders and investors thought that the booming price of Bitcoin when it reached $40,000 in January 2021 was the biggest the coin will record. Everyone, including those who don’t buy into the idea of virtual currencies, was shocked when Bitcoin rose to $64,000 as of April 14, 2021.

Though the price of Bitcoin has continued to fluctuate since then, its record high of $64,000 per Bitcoin remains the highest price in its 13 years history.

Factors that Influence the Price of Bitcoin

Generally, cryptocurrencies are volatile, and it isn’t easy to peg their prices at a particular figure for a long time. In the early days of Bitcoin, the price was determined by the liquidity level, considering the fewer investors it had.

However, in recent times, a lot of things have changed. Several factors continue to play a major role in changing cryptocurrency prices, and one of such is regulatory developments.

Every time there is a regulatory statement, regardless of whether it is good or bad, it directly affects the price of Bitcoin.

Unlike what we had 5-10 years ago, where only retailers and individuals showed interest in Bitcoin, many institutions and marketplaces now accept and incorporate Bitcoin payments. Today, traders can buy Bitcoin with credit card on Paybis where you also can buy USDT.

Over the years, we have seen how Bitcoin prices continue to change. If there is one message this sends, care should be exercised when investing in Bitcoin. Traders should try and understand the different price regimes and what has been responsible for the variations. Attention should also be paid to the present factors that can influence the price.

It would help if you did not ignore trending crypto news, posts made by notable personalities, and government policies, as they hugely impact Bitcoin price.

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