for those that are interestedHere is a brief history of bitcoin
2009 to 2015
It was introduced in 2009 at a price of Zero and closed out 2010 at 30 cents. In 2011 it reached nearly 30 dollars in June and closed the year at 5 bucks. 2012 was an uneventful tear for bitcoin, but it traded over 1000 dollars in 2013, closing out the year at $732.00
2016 t0 2020
Prices moved to over 900 dollars by the end of 2016 and in 2017 broke $2000 in May and zoomed to over $19,000.00 by December of that year.
The following two years saw other crpto currencies come into play. The next two yeara saw bitcoin move sideways with some bursts of activity, but by December of 2019 the price had fallen to $6,612.00. In 2020 the economy shut down due to covid and Bitcoin opened the year at $7,181.00 and closed out the year at $28,993.00 for an increase of 416% for the year.
2021 to 2023
Bitcoin reached $40,000.00 by Jan 7th 2021 and by mid April had surpassed $60,000.00 and coinbase, a currency exchange went public. By the summer the prices had dropped 50% to $30,000.00. There were more ups and downs the rest of the year wth Bitcoin trading in the mid 40's by December. In May, 2022 it saw Bitcoin fall to $29,000.00 and closed out the year below $20,000.00. Bitcoin opened the year 2023 at $16,530.00 and steadily rose throughout the year closing at $42,258.00.
2024
Bitcoin price rose quickly after fund approvals and went over $75,000.00 on EXMO. a crypto exchange in Poland.
In closing, Bitcoin was designed to be a form of payment and investors and traders began using it as an investment. The price is very volitile and contains a huge amount of risk and this volitility will continue as long as there is a demand for it as an invesment asset. By design, only 21 million bitcoin will ever be created. The closer it gets to its limit the higher in value Bitcoin should be. This limit is intended to increase the value of Bitcoin as coins become more and more scarce. Supply, demand and popularity are huge factors one should always be aware of and will be the main driving factor rearding other crypto currencies and Bitcoin.
6 cents in 2010 to over 75k in 2024!!
SOURCE: Investopedia
GL and long on Bitcoin