Bitcoin is a strong networking software with a very volatile trading history since its first creation in the year 2009. Initially, the bitcoins were traded for next to nothing. The first increase in the price of bitcoin had occurred in July 2010. This was when just for a single coin, the valuation of a bitcoin went from about $0.0008 to $0.08. Since then, the currency has seen some of the major crashes and rallies.
Bitcoin works as a self-owned networking system. This system is not controlled by any person. It is a user based networking software system. The more it is being used by the user, the more user-based it becomes, and when many users collectively use the same bitcoin software, it works according to the users. So, no one owns or controls this software.
- After Bitcoin’s launch, its price remained a few dollars for its first few years of launching.
- Bitcoin is the first-ever blockchain-based cryptocurrency in the world. It is the most widely spread yet successful cryptocurrency.
- Bitcoin’s price reached a peak of about $20,000 per bitcoin in the year 2017 and then fluctuated a bit. As of April 2020, its averaging about $7,000.
Do you know who invented Bitcoin? Bitcoin was first invented by Satoshi Nakamoto in 2008 by a mysterious person, and early in 2009, it was released as open-source software. The first transaction of bitcoin took place between an early adopter of bitcoin and Nakamoto in 2009. While the first real-world transaction happened in 2010. This happened when a bitcoin miner bought two pizzas from Papa John’s for about 10,000 bitcoins in Florida.
Bitcoin Trading History
Bitcoin started to take off in the year 2013. At around $13.50, this digital currency began the year with its trading. The price then rallied in April 2013 to get over $2220.and then it downs back again in mid of April by $70. This was the first crash for the currency.
Then in October and November, bitcoin began to rally again. At that time, the currency was trading at around $100. By the end of October, it again reached around $195. And that is how bitcoin history continues with a rise and fall in its price.
Bitcoin’s Peak Years
For about two years, Bitcoin hit its highest price ever, reaching about $19,783. This was the high point of an incredible year for the digital currency, which in 2017 started at about $1,000. Since hitting the records and reaching its peak, Bitcoin, however, has fluctuated widely. In 2018, it fell to about 73% and had again risen by 85% this year.
Since its invention until today, the highest peak that bitcoin has reached is about $19,783. For many years, bitcoin successfully worked as a digital money exchange system. A few times, it also faces some drawbacks. But eventually, it has been the biggest yet widely spread networking system working all across the globe.