Bitcoin is undoubtedly the best-known cryptocurrency ever. Still unknown developer Satoshi Nakamoto who created the digital currency is now a popular investment objective. That is, a lot of people wonder ‘What is the current value of bitcoin?’.
Despite the fact that there has been a hype around Bitcoin for several years, the very first transaction was conducted more than 10 years ago. Since the first Bitcoin transaction on January 12, 2009, the price has shown some ups and downs.
Today, we’re about to consider historical exchange rate & current value of bitcoin, as well as price history of 2020. Let’s get started!
What is the Current Market Value of Bitcoin: Bitcoin Price History
Certainly, the historical rate of the largest cryptocurrency by market cap could fill a book. That is, we want to refer to important turning points of a rate change. So, what is the current market value of bitcoin? Let’s find out!
Historically the first price quotation of today’s leading cryptocurrency took place on May 22, 2010 — long before the first crypto exchanges appeared. Due to an event known until today as ‘Bitcoin Pizza Day’, Bitcoin received a considerable value for the first time. Bitcoin owner Laszlo Hanyecz bought two pizzas for 10,000 BTC from another forum user for the equivalent of 41 USD. Accordingly, the entry rate of bitcoin was less than one dollar — about half a cent.
With Wikileaks, a large organization announced for the first time that it would accept Bitcoin, which succeeded on the Darknet as a payment method. At the same time, still active on the Internet founder Satoshi Nakamoto went too fast. What happened to BTC? What was the current market value of bitcoin? Well, in 2011, the first ‘bubble’ burst, and the BTC price fell from around $30 to $2.
The following years were marked by a so-called rally, which took the rate up to 100 dollars for one bitcoin. The increase was interrupted by a hack of the popular Mt. Gox exchange, which lost 800,000 BTC. The price dropped to a minimum of 650 US dollars at the time. The rate only recovered rapidly in 2017. Bitcoin hit new all-time highs every month and even insignificant bad news could stop the bull run.
Current Value of Bitcoin in Dollars: What Are the Latest News?
What is current value of bitcoin? Shortly after a regulated exchange allowed to use Bitcoin features for the first time, the price reached a level beyond the $10,000 mark.
However, this level couldn’t be maintained for long. As soon as the price rose, it fell again. It was about a burst bubble that dropped the price to $5,000 and then to around $3,000. It took around a year for a ‘crypto spring’ to come in early 2019. At the end of the first half of 2019, the price increased to over $10,000 for the first time since a crash in the first quarter of 2018.
The second half of the year is accompanied by a serious correction as well as many ups and downs. The American president tweets about the largest cryptocurrency by market cap. The turbulent year 2019 finally ends with a closing price of 7,283 dollars.
Let’s learn about the current value of one bitcoin in 2020. Today, the price is relatively stable at over $9,000. It seems investors are waiting to see how the market acts in an uncertain situation. The rate is about to change significantly. It’s still unclear whether a second coronavirus wave could cause another crash or not. In the past, for example, significant price change was caused by halving.
The artificial scarcity of BTC as a result of Bitcoin halving occurred after events in 2012 and 2016. At the same time, the corona crisis has shown that Bitcoin has become a serious alternative for many investors.
Current Value of One Bitcoin: What Should You Know?
A lot of people still wonder ‘What is the current value of bitcoin in dollars?’. Well, at the beginning of the year, very few investors expected such an eventful first half of 2020. This is characterized by a bull market, a dramatic fall in prices, and the large bitcoin halving.
The first month of 2020 starts off with a record-breaking result. With an increase of 30 percent compared to the end of 2019, Bitcoin announced the most successful January in 7 years. So, what was the current value of bitcoin in USD? The first month of the year ends at $8,500. Experts see the reason for this primarily in the increased reporting on this year’s halving and the associated shortage of the BTC offer.
The cryptocurrency, often referred to as the digital gold, continues to be successful in February. The magical $10,000 mark was reached on February 9, 2020. At the same time, coronavirus news instill doubts on crypto exchanges as well as on a traditional financial system. The crash follows in March. The traditional financial market is also suffering one of the greatest losses of all time.
But while the world is still suffering from the corona crisis, Bitcoin recovered in April. At the end of April, the price was equal to $8,000. As a result, the cryptocurrency has made up for all losses since the corona crisis within a few weeks. The following halving in May provided an additional price increase to over $10,000. Nowadays, the BTC rate changes from 9,000 to 9,900 US dollars. That is, today, the current value of 1 bitcoin is $9,181.
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