The buzz of bitcoin is throughout the world. People are more curious now to learn about it. Bitcoin has spread the awareness and people want to know more about it.
Bitcoin is a digital asset and one of the most famous in the crypto world. It is means to exchange, transfer, invest and trade. It is a decentralised currency. It makes you, your own boss! You have the sole authority of your assets and whatever you transfer.
With time people are getting aware of it and tapping into this crypto world. With more and more people coming the competition gets a bit higher too. So, let’s know the background first.
When did Bitcoin Start?
Bitcoin started in 2009 but was invented in 2008 by Satoshi Nakamoto. The first real transaction took place in 2010 and till then people are using it as a means of transacting. All of the transactions are on the block chain technology called the ledger.
Bitcoin History.
Bitcoin had a rollercoaster ride and it gained exposure to many good and bad. Good in a sense that people started tapping into it and many bitcoin bots helped them in. Most of the people chose bitcoin prime website as a start to their journey and earned loads of money while some started deceiving others through the black bitcoin money. However, many officials have banned such sites to make the road clear of the scams.
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The first crash of price occurred in April 2013. The trading in 2013 began from $13.50 and heightened up to $ 220 but the price suddenly dropped in the mid of April. This was the first time when this decline happened.
Then in 2013, many new miners started entering the bitcoin world. Even people from China were into the mining stuff. The trade again began from October 2013 and until November it reached $1075. During this rally MT Gox exchange was also involved in the bitcoin transactions.
The MT Gox exchange started giving poor services and so the high prices were to decline now. By December the price dropped back to $ 760. People found difficulty in withdrawing money and doing many transactions became a new trouble.
A 32 percent decline came in during February 2014. The bitcoin was up to $850 and reached to $580 by February. During this period of time MT Gox exchange filed for protection from government in Japan.
In 2015 the price of Bitcoin stabilized at some certain point. The currency blowed up from $275 to $ 460 in November. This was a major spike after such a long period. Then some people started leaving bitcoin and that was a point when the currency declined again.
The Ostentatious Rise.
2016 marked as a major rise in bitcoin and it rose up to $1000 in 2017 early months. The meteoric rise came when the price doubled to $ 5000 in November and again in November it came up to $ 10,000. So, 2017 is the major rally of the time. $20,000 was reached in December 2017 and many critics started calling this a price bubble. People were eager into this but then the crash of decline happened. By November 2018 the price fell down to $3500 and that was the sad news!
The Rise in 2020.
2019 marked the steady rise of bitcoin but it crashed again to $ 7000. In 2020 the bitcoin rose up to $10,000 and fluctuated as low as $5000. But 2020 was the massive year with COVID pandemic and created voids for many. Many left many entered the crypto world and so the price varied.
Up till September 2020 the bitcoin price has risen up to $12000. People were into the buying this week and that created a sudden up in price. This is the good news because such a good high was not seen since earlier months.
So, the bitcoin is a volatile asset but this volatility can make you the king of time. Good strategies and decisions on time would help you earn lots of profits. So, remember history repeats and so take notice of these yearly tracks and dive into the bitcoin world!
