The most complete historical price review of Bitcoin

In its inception in 2009, Bitcoin held virtually no value, but its journey has been marked by surges, crashes, and a steady rise, recently hovering around $17,000.

Oct 22, 2024 at 08:54 pm

The Historic Evolution of Bitcoin: A Comprehensive Price Review

1. Early Beginnings: Creation and Initial Genesis (2009)

• January 3, 2009: Bitcoin, developed by an anonymous creator known as Satoshi Nakamoto, is launched into existence with the mining of the genesis block.
• Initial Value: Virtually negligible, with no established price due to the lack of demand and liquidity.

2. Early Adoption and Price Volatility (2010-2011)

• July 2010: Bitcoin surpasses $0.01 for the first time.
• June 2011: Bitcoin surges to a record high of $32 before experiencing a significant correction, plummeting to around $10.

3. Mainstream Recognition and Bull Market (2012-2013)

• April 2013: Bitcoin reaches $266 as it gains increasing attention and interest from the broader market.
• November 2013: Bitcoin enters a bull market, skyrocketing to an all-time high of $1,242 on the Mt. Gox exchange, primarily driven by speculative trading and hype.

4. Mt. Gox Collapse and Price Crash (2014)

• February 2014: Mt. Gox, the dominant Bitcoin exchange at the time, halts trading due to a massive hack and loss of funds.
• March 2014: Bitcoin's price plunges below $500 as investors lose confidence in exchanges and the cryptocurrency's security.

5. Stabilization and Gradual Growth (2015-2016)

• July 2015: Bitcoin begins to stabilize around $250, largely driven by its increasing use for online transactions and its growing acceptance as a legitimate asset.
• June 2016: Bitcoin surpasses $750, fueled by regulatory clarity and increased institutional interest.

6. Surge and Bubble Burst (2017)

• November 2017: A cryptocurrency frenzy propels Bitcoin to an unprecedented peak of almost $20,000.
• December 2017: Bitcoin experiences a sharp correction as investors cash in on their gains, leading to a bubble burst and a significant price decline.

7. Prolonged Bear Market (2018-2019)

• January 2018: Bitcoin falls below $10,000 and enters a prolonged bear market, characterized by low demand and falling prices.
• June 2019: Bitcoin reaches its lowest point in this period, at around $3,200.

8. Recovery and Steady Growth (2020-2021)

• March 2020: Following the COVID-19 pandemic, Bitcoin rebounds strongly, rising above $7,000.
• November 2021: Bitcoin sets a new all-time high of $69,000, driven by institutional adoption, rising inflation fears, and the launch of Bitcoin futures exchange-traded funds (ETFs).

9. Correction and Sideways Trading (2022)

• January 2022: Bitcoin begins a correction, falling sharply from its record high.
• November 2022: Bitcoin experiences further volatility and uncertainty due to the collapse of the FTX exchange and the impact of macroeconomic factors.
• Present (December 2022): Bitcoin continues to trade sideways, ranging between $16,000 and $18,000.