Bitcoin’s price history: 2009 to 2024
Bitcoin, introduced in January 2009, embarked on a volatile yet upward trajectory, birthing the era of cryptocurrency. Despite a slow start, Bitcoin gradually captivated the public’s attention, creating millionaires and revolutionizing trading landscapes.
In its infancy, Bitcoin’s value was obscure, with the first recorded exchange in 2009 setting a bargain price of $0.00099 per Bitcoin. The early years saw significant volatility, from a mere $0.40 in 2010 to a peak of $230 in 2011. However, a subsequent crash led to skepticism about the sustainability of Bitcoin.
The turning point came in 2013 when Bitcoin’s popularity surged globally. The installation of the first Bitcoin ATM in Vancouver marked a milestone, and prices skyrocketed from $20 in January to a brief peak of $230 in April. Though it experienced fluctuations, Bitcoin ended 2013 at $805, signaling its breakthrough into popular consciousness.
The following years witnessed dramatic swings. Despite reaching $1,200 in late 2013, Bitcoin slumped to $318 in 2014 due to issues at Mt. Gox. A slow uptrend characterized 2015, ending at $430. The first half of 2016 saw consolidation, but by year-end, Bitcoin was hitting $700.
Bitcoin’s gained mainstream attention
The watershed year was 2017 when Bitcoin gained mainstream attention. It breached $2,000 in May, surpassed $10,000 in November, and peaked above $19,000 in December. Bitcoin futures trading on the Chicago Board Options Exchange fueled further interest.
However, the exuberance was short-lived. In 2018, Bitcoin underwent a significant correction, closing the year at $3,709, down 73%. The following years were marked by oscillations, with Bitcoin rising to $28,949 by the end of 2020.
Bitcoin’s Roller-Coaster
Bitcoin’s roller-coaster continued in 2021, reaching an all-time high of $64,000 in April. Regulatory pressures from China led to a 50% drop, compounded by the Federal Reserve’s liquidity tapering and rising interest rates.
As 2022 unfolded, Bitcoin faced volatility, settling around $40,000. The market struggled amid inflation fears and central bank rate hikes. A recovery ensued in 2023, with a 50% gain by mid-June, despite regulatory crackdowns. Bitcoin closed the year around $42,000, anticipating the debut of Bitcoin ETFs in January 2024.
The SEC’s approval and subsequent trading of Bitcoin ETFs on January 11, 2024, brought renewed optimism. Bitcoin peaked at nearly $49,000, embodying its resilience and ability to adapt to changing market dynamics.
Yearly returns reflect Bitcoin’s tumultuous journey, ranging from exceptional gains, like 2013’s 5,870%, to challenging years, such as 2018’s -73%. Investors are cautioned to conduct thorough research, recognizing past performance as no guarantee of future appreciation.
In conclusion, Bitcoin’s history reflects not only a financial asset’s evolution but also the transformative impact of blockchain technology, challenging traditional notions of currency and investment.
Disclaimer: It is strongly recommended that all investors perform thorough independent research on investment strategies before reaching any investment conclusions. Furthermore, investors should be aware that previous performance of investment products does not ensure future price appreciation.
