Bitcoin Value History
Bitcoin is the most popular crypto asset that ranks first on all crypto market resources and rankings. In this article, we will find out what affects the BTC price, how are Bitcoins valued, and how the BTC rate changed from the launch of the asset.
Why Is Bitcoin Losing Value?
The asset’s rate collapsed in the spring of 2022 amid an overall economic crisis and FED restrictions. The final point was when Binance temporary blocked BTC withdrawals in June 2022.
Overall factors affecting the BTC rate:
- market sentiments;
- news background;
- supply/demand balance;
- the complexity of mining BTC;
- restrictions imposed on the industry.
Bitcoin Value Changes Over The Years
Initially, BTC was not worth even a hundredth of a cent, and now the BTC cryptocurrency prices live is over $22 000. The first fixed BTC rate was 1309,03 BTC = $1.
In 2011, the 1 Bitcoin equaled the 1 US dollar for the first time. In early summer, after BTC became known in the media, its rate soared to $32, but then fell to $10.
After the Mt.Gox exchange was hacked, the BTC rate fell to $0,01. It was the largest drop in the course in history.
In 2012, the price of BTC ranged from $4.6 to $13.44. In 2013, Bitcoin made a breakthrough of up to $1153. In a short period, the price soared more than 85 times.
In 2014-15 BTC rate dropped to $80.
In 2016, BTC was trading at $400-600.
In March 2020, bitcoin experienced a massive drop caused by the crisis due to the Covid-19 pandemic. However, by the end of the year, BTC began to reach its new ATH. By the end of 2020, the Bitcoin price chart fixed a new ATH at $29,000.
In April 2021, the BTC rate rose to $63,600 and then fell to $32,500. In October, a new all-time high was set at $66,400.
You can buy BTC on any crypto exchange, but we recommend using credible platforms like WhiteBIT, KuCoin, Huobi, or Binance.
