From past to present; Bitcoin Prices by Years

Cryptocurrency giant Bitcoin (BTC), which has come to the fore with its sharp declines in recent days, has been a matter of curiosity about what stages it has gone through from the past to the present. Bitcoin price over the years has recently taken its place among the favorite topics that investors have researched.

Cryptocurrency giant Bitcoin (BTC) was invented in 2008 by an unknown person or persons using the name Satoshi Nakamoto. It was put on the market in 2009 and started to be used. Many changes have been recorded since the launch of this crypto coin. Bitcoin, whose value was very low at first, gained wealth value in TL exchange rate according to years. Known not to be dependent on a central bank or a single administrator, Bitcoin entered our lives in 2009 as a decentralized digital currency that can be transferred from user to user in the bitcoin network without the need for intermediaries. While cryptocurrency transactions are verified by network nodes via cryptography, they are registered in a public ledger called the blockchain. The way this asset works is considered a digital asset and virtual element designed as an alternative medium of exchange to cash.

What are the Factors Affecting BTC?

The reasons that affect the level of the crypto asset coin BTC are as follows:

• Exchanges it trades on
• Regulations affecting its sale
• local regulations
• Bitcoin supply and market demand for it
• The cost of producing a Bitcoin during the mining process
• Rewards to Bitcoin miners for verifying transactions on the blockchain
• Number of competing cryptocurrencies
• Political and economic developments
• Current events

The element that informs the price of Bitcoin is expressed as the expectations of the investors. To summarize; If the purchase demand is high, the price will increase, if the sales demand is high, the price will decrease.

Values ​​of BTC in the Last 13 Years:

It is very difficult to predict where Bitcoin will reach by looking at the price changes that Bitcoin has experienced since its launch. According to some analysts, it is noted that BTC has not reached the peak level yet, while according to some analyst comments, BTC will not reach its old record levels again. 2009: 0 2010: $0.06 2011: $6.05 2012: $8.46 2013: $189.54 2014: $526.02 2015: $272.36 2016: $567.27 2017: $4,001.16 2018: $7,558.21 2019: $7,196 2020: $29,000 2021: $44,337

Bitcoin Price Chart by Years;

Year 2009 BTC

Created in October 2008, BTC did not yet have a price. In October 2009 it was at $0.0008.

Year 2010 BTC

In 2010, the first Bitcoin exchange took place. A user on the BitcoinTalk forum paid for 2 pizza orders with 10,000 Bitcoins. The incident in question took place on May 22, 2010. Since then, May 22 has been celebrated as “Bitcoin Pizza Day”. In July 2010 it was equivalent to $0.08.

2011 BTC

In February 2011, Bitcoin and the dollar were equalized. It appreciated as 1 BTC = 1 USD.

2012 BTC

The Bitcoin Foundation was created in 2012. This foundation was brought to life by Gavin Andresen, who was part of the main team that developed Bitcoin. Another event that took place this year was Halving. With this halving, the reward per block decreased from 50 Bitcoins to 25. “Halving literally means halving. In cryptocurrencies (Bitcoin, Bitcoin Cash, Litecoin, etc.) produced by mining, the reward per block is halved at certain intervals.”

2013 Year BTC

The average BTC price in 2013 is expressed as $ 189.54. In 2013, a person named Ross Ulbrich launched an illegal site called Silk Road on the dark web. This site started selling illegal products. For privacy, Bitcoin was used as the main currency on this platform. The FBI shut down Silk Road that same year, and $1 billion worth of Bitcoin had to change hands. As Bitcoin continued to grow in popularity in 2013, the “gold of tomorrow” comment for Bitcoin came from the University of Nicosia, informing students that Bitcoin could be used as a payment method for tuition fees. On December 5, 2013, the People's Bank of China banned Chinese financial institutions from using Bitcoin. After this news, the value of Bitcoin dropped.

2014 Year BTC

The sharp decline in BTC in the previous year continued in the next year. One of the largest cryptocurrency exchanges, Mt. Gox lost 850 thousand Bitcoins in February 2014 and announced that they went bankrupt as a result of this loss. Bitcoin, which saw its value at $ 1200 in 2013, declined to $ 300 with the effect of these events.

2015-2016 Years BTC

In 2015, Coinbase started to operate in 25 states of the USA as the first regulated exchange. During this period, he recorded an investment of $ 1 billion in Bitcoin and Blockchain companies. The second halving took place in 2016. Before the split, the BTC reward per block decreased from 25 BTC to 12.5 BTC.

2017 Year BTC

With the year 2017, it was observed that Bitcoin drew an unbelievable graph. 2017 has been a year that brings smiles and big pockets for long-term Bitcoin investors. The leading cryptocurrency, which started 2017 at $966, climbed to  $3000 around June 2017.

2018 Year BTC

80% of the total Bitcoin supply has been mined this year. Thus, out of 21 million Bitcoins in 2018, 16,800,000 have now taken their place in Bitcoin wallets. Of course, it was also recorded that there were Bitcoins that were lost, burning on hard drives. Bitcoin did not display a very bright chart for its investors throughout 2018.

2019 Year BTC

Earlier this year, Bitcoin price was on a sideways course and BTC resistance was around $3,300. In April 2019, there was a sharp rise in BTC, and the BTC price rose to $5,100 within hours. In June, this price climbed to the level of 13 thousand dollars.

BTC Year 2020

Earlier this year, BTC averaged $8,808.42. It rose very fast in December 2020, climbing to an all-time high of $21,688.17. The Bitcoin prediction made by Max Keiser, the host of Keiser Report and co-founder of Heisenberg Capital, in 2018, two years ago, came true with this level. Max Keiser claimed that during the bear season in 2018, Bitcoin will reach the price level of $28 thousand in 2020.

2021 Year BTC

In 2021, which is expressed as the peak year of Bitcoin, BTC followed a bumpy path between 30 thousand and 65 thousand US dollars (approximately 250 thousand to 550 thousand TL). Market analysts have predicted two different opinions on whether Bitcoin will continue to rise after these fluctuations or if it is the beginning of the end. Tesla's CEO, Elon Musk, is undoubtedly one of the first names to come to mind when the 2021 crypto asset market is mentioned. The steps taken by Musk regarding the cryptocurrency market caused great movements in the market. In particular, Musk has a great influence on Dogecoin, which he stated as his favorite coin, gaining so much value. *Statements and values ​​in this article are for informational purposes only and are definitely not investment advice.*   Source: innova.com