Crypto History: Bitcoin in Previous Years

Cryptocurrencies such as Bitcoin have gained a lot of limelight of late, with many people investing in them. Everything interesting has a beginning, and the Bitcoin beginning was not that promising. 

Let’s take you back to 2009 when Bitcoin was first launched. Not many paid an interest in it, mostly because of the low value of Bitcoin in previous years and a limited understanding of how it works. But as we continue reading, we will see how this ignored digital asset created many of today’s millionaires and so much more. 

Without further discussion, let’s take a look at the crypto history of Bitcoin in previous years. 

A Quick Overview of Bitcoin in Previous Years

Bitcoin has increased in value over time. Here is a brief explanation of these developments.

·     2009–2012 – As previously stated, Bitcoin was first introduced in 2009 by a mysterious individual known only by the code name Satoshi Nakamoto. In this first year, not much was expected because most people were unfamiliar with cryptocurrency and its potential. Bitcoin’s value was at its lowest point, which was zero. However, after a few months, it rose to $0.09. This gave investors hope for the years to come. The news spread, and more and more investors joined the community. As of April 2011, the value increased to $29.70, and now news about Bitcoin had spread in most Western countries. Investors became quite convinced of a brighter future. The value continued to rise in the following months of 2011. At the end of 2012, the value dropped to a surprising $13.50. This was not the end of Bitcoin; hope was still there. 

·     2013–2019 – After a stressful year for Bitcoin investors, 2013 brought joy; the value rose to $123.00 and later to $1,327.55. This was direct proof of how the price of Bitcoin is volatile. After a few months of praise, the value again dropped to $687.02. Following further declines in value, some investors dropped out and sold all their digital assets. But those who were wise enough remained patient, and within no time in 2015, the price rose to $316.21. At this point, most government bodies started to pay interest in Bitcoin since it was surpassing most global investments. A lot of research and interviews were conducted to give them a better understanding. In 2016–2019, the value continued to be volatile as time passed. You can check this on the Loop platform to understand more about the value of Bitcoin in previous years.

·     Recent years – By now, you probably have heard of how Bitcoin’s value has increased, even outperforming its initial estimation, which was at around $40,000, and reaching $67,549.13. 

Does Bitcoin Still Have a Bright Future Compared to Bitcoin in Previous Years?

No one can predict the value of Bitcoin a year from now. Today, the price is one amount while tomorrow, it will have either dropped or increased. Because of this, it is hard to make a definitive prediction about a particular short-term time frame. Most experts feel confident that the price of Bitcoin will rise very significantly in the long term. Other cryptos such as Ripple and Ethereum also offer great competition for Bitcoin and are expected to grow just like Bitcoin in previous years.

Conclusion 

Bitcoin has a long history that continues to benefit its investors. With the above explanation on Bitcoin in previous years, you should be able to learn a thing or two about this fantastic digital currency that has captured the attention of most global investors.

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