Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name, Satoshi Nakamoto, and released as open-source software in 2009.
Over past decade we have seen Bitcoin fundamentals improving continuously with
- Increase in number of Blockchain Wallets.
- Low fee with the integration of upgrades like Segwit.
- Enhanced Security.
- Growing Institutional investments.
- Willingness of the Governments across the globe to learn and design a positive regulatory framework towards Crypto space.
- Growing adoption by product and service providers.
While the price rally witnessed last time in Bitcoin was primarily out of FOMO, this time the first cryptocurrency has solid developments underlining the price increase.
New Beginnings :· At the start of 2011, you could buy 1 Bitcoin for $0.30! The currency experienced a spike to above $US15, but ended the year around $US3. By the end of 2012, Bitcoin had rallied to $US12.56. During 2013, Bitcoin rose steadily to $US198.51 by November, but experienced a significant spike, ending the month at $946.92.
Volatility :· 2014 was the only year so far in which Bitcoin ended lower than it started. After continuing the rally from the previous year, it peaked around $850 in February and ended the year down at $378.64. The price of a Bitcoin continued to decrease for a few months in 2015, but increased toward the end of the year to $US362.73 on December 1st.
Growth :· 2016 and 2017 have seen steadily rising prices, with a large spike at the end of 2017. Prices have declined significantly in 2018, but are still up significantly compared to the beginning of 2017.
2018-The NASDAQ also began to dabble in crypto-currencies by April. The CEO revealed plans to get into the industry. Goldman Sachs was also rumored to be entering the market, however, this remained a rumor and the Wall Street bank had yet to make any official announcements. Unfortunately, the hope of financial institutions getting involved was not enough to keep markets from dipping further.
January 1st 2108 Bitcoin started with its highest price $US13,412.44 with a boom as digital currencies recorded their highest prices ever, breaking record after record. But as 2018 comes to a close these prosperous times have become a faded memory.
Markets were wiped out of over $US700 billion and crashed by more than 80%. Many newbie traders have exited the markets after being burnt, and only those who bought early in 2017 did not suffer massive losses.
January 1st 2109 Bitcoin started with $US 3,869.47 with a great loss in the end of the 2018, continued its rally trying to move back it’s highest price $US15300.
As on Today May 14th 2019 the Bitcoin price trading with $US 7961.47 year’s highest .
data sources: https://www.officialdata.org/bitcoin-price