Want more wrestling news, rumors, and results? Be sure to visit PWInsider.com and PWInsiderXtra.com.
Bitcoin is a very volatile Cryptocurrency. Even though it remains unaffected by the market forces, their value rises and falls on the basis of few other parameters. Bitcoin is not regulated by any central authority which exempts it from the problems of inflation and other market fluctuations.
Bitcoins are translated using the block chain technology, which makes Peer-to-Peer transactions within seconds. It just requires the approval of the sender and the recipient. No other party is involved in Bitcoin transactions. Even though the value fluctuation in Bitcoin is a stressful affair, Bitcoin investors usually receive much more returns than their investment. You can learn the details at crypto wallet page.
Bitcoin Price History
Ever since the invention of Bitcoin in 2009 by the anonymous individual or group of individuals under the name of Satoshi Nakamoto, Bitcoin has shown a considerably uneven graph in terms of its value. It has risen and fallen within short periods of time. Though it causes extreme restlessness in the investors, Bitcoin has steadily increased in value after its invention. The highs and lows have been consequences of the number of thefts and fraudulent activities that have occurred relating to Bitcoins. The lack of a central authority performing surveillance may be an attractive benefit that comes with Bitcoins, but it also paves the path for fraudsters and scammers. All these factors contribute greatly to the volatility of the value of Bitcoin.
The first massive growth that the Crypto market witnessed was in 2011. In the month of April, Bitcoin was valued at $1 and by the end of June, its value had soared as high as $32. A 3200% growth rate was unbelievable within the time period of three months. The same year, the value of Bitcoin went down as low as $2 in the month of November. This was a considerably hard pill to swallow for the Bitcoin investors.
The year 2013 played a pivotal role in the career of Bitcoin in the Cryptocurrency market. There were two massive rises and falls in the value of Bitcoins which took the Crypto market by the storm. Investors could not see these coming. The year began with Bitcoins being valued at $13.20. Towards the beginning of April, the value spiked at $220, and came crashing down at $70 in the middle of the same month. That was not all. In October, 2013, the value of Bitcoins had steadily reached $123.20, from which it shot up to $1156.10 in December, and had a huge fall just three days after, landing at $760 finally. By 2015, Bitcoin was valued as low as $315.
Another price bubble was observed in 2017. Bitcoin had steadily reached $1,000 in value by the beginning of 2017. It declined for the next two months, and then rose to an amount of $20,089 by the end of the same year. This price bubble established Bitcoin’s dominance in the Cryptocurrency Market. Everyone started talking about Bitcoin, and those who could afford it started investing in Bitcoins.
Current Situation
When the pandemic hit the world, Bitcoin had a value of $7200 towards the beginning of 2020. The Government rules and policies instilled such fears in the investors’ minds that they started investing in Bitcoins rather lavishly. With almost all the countries running at a loss, Bitcoin was valued at $18,358 eventually. The rules became stringent. Economies were running at further losses. Inflation became sky high. Hence, the value of Bitcoin reached a peak of $24,000 by the end of 2020, and surpassed it in the January of 2021 with a value of $40,000.
Conclusion
There has been a considerable rise and fall in the value of Bitcoin, but every time it crashed, it got right back up, strengthening its investor base furthermore. There is never not a good time to start investing in Bitcoins.
If you enjoy PWInsider.com you can check out the AD-FREE PWInsider Elite section, which features exclusive audio updates, news, our critically acclaimed podcasts, interviews and more by clicking here!
Bang On Casino
