Bitcoin is a cryptocurrency, a digital asset designed to function as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. Bitcoin prices have fluctuated since they were first created in 2009, experiencing a steady increase until 2017 when bitcoin's price surged dramatically, rising to nearly $20,000 in December before plummeting by February 2019. There has been little consensus among industry experts regarding bitcoin’s future with some touting that bitcoin will crash while others believe bitcoin is here to stay.
The very first big price increase occurred in November of 2010 when bitcoin's price increased sharply amid rumours of bitcoin segwit2x being cancelled which caused the price to rise from $0.06 to $0.25 within 2 months A similar jump occurred in 2011 When bitcoin reached parity with the US dollar in June 2011 , it also became more useful for online transactions with vendors like WikiLeaks accepting bitcoin as a form of payment Since then bitcoin has seen steady growth, experiencing several rallies and crashes.
In 2011 bitcoin experienced its first major crash when it plummeted from $30 to $2 within a 5-month period.
Bitcoin's price saw another major surge in early 2013 which was followed by another crash. A bitcoin mining company called bitcoin cloud services made an IPO at $15 per share which caused bitcoin's value to triple however it lost 80% of its value over the next few months during the bearish bitcoin winter. The price of bitcoin jumped from around $30 to around $200 consecutively for two weeks. By mid-June that year, bitcoin’s value had nearly doubled again to almost $400 after which it saw a short crash that brought bitcoin prices back down below $60. This was followed by another huge rally to over $250 before bitcoin prices began sliding downwards once more.
In late 2013 BTC bubble finally came to an end between December 4th and 12th when bitcoin prices reached highs above $1242 (on some exchanges, including MtGox) before crashing down to a low of around $150.
It price has since been on a downturn, failing to hit the highs it saw in 2013 untill 2015 when it price finally reached values over $300 for several days between November and December. In March 2016, Bitcoin again surged from less than $100 to almost $500 before experiencing another sharp decline that drove bitcoin back under $200.
Also, in early September 2017, BTC suffered a major crash from around the $4500 level to just above $3000 in less than two weeks which was followed by a quick rebound. On September 15th 2017, BTC hit a high of close to 4K dollars only hours later the digital currency plummeted more than 30 percent after China banned Initial Coin Offerings (ICO), as we are witnessing similar scenario in China right now.
The bitcoin price has since experienced several rallies and declines, hitting a record of just below 20k in January 2018. In early February bitcoin hit a low of around 9k before hitting the 17,000 mark again on February 21st 2018 before dropping.
However, bitcoin at least has a kind of resurgence in June 2019 and it surpasses $10,000 again. But bitcoin declines to $7,112.73 by December of the same year.
The bitcoin price had a spectacular year in 2018 and the bitcoin price has continued to go up in 2019. In November of 2020 bitcoin was trading at about $7,200. After that, bitcoin went on to reach an all-time high on November 23rd, when bitcoin was trading at $28,025 on 31st of December.
In 2021, BTC open with 28,951, and rises to all time high of $64,778 on April 14th, which since then has been dropping and rising, presently the price of Bitcoin as dropped to $43,135 as of 27th of September, 2021.
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