Sometime in early 2009, the first 50 bitcoins in history suddenly appeared. At that time, dedicated IT fans were worried about a new type of digital money. This new digital asset was supposed to be protected from state manipulation & control.
However, bitcoins have gotten into the act. Even leading investors suddenly got interested in digital currency. Before investing their cash, these large investors faced a rather big question — ‘What is the current value of Bitcoin?’.
It’s necessary to mention that from January to early December 2017, the price increased tenfold. Most recently, digital coins met with a ready market in the spring and summer of 2019. But still, what is the current value of a Bitcoin? Today we will try to find out!
What is the Current Market Value of Bitcoin: Fans Vs Speculators
If you want to know what is the current market value of Bitcoin, then you should make a mental note that the price of Bitcoin is based on supply and demand.
Due to the growing media coverage, interest — and therefore demand — has been steadily growing in recent years. At the same time, the offer is limited, as the Bitcoin network can only gradually issue new coins.
What is the current value of bitcoin of that period of time? When the digital currency began its journey in 2009, and almost no one knew about it, supply and demand were low — at that period of time, the Bitcoin value was less than $1. At that time, there was a group of dedicated fans, that is, they were major buyers. They dreamed of a currency independent of central and commercial banks.
Speculators have been investing more and more dollars since 2017. They considered Bitcoin as the next ‘hot thing’. On December 11, 2017, the American CBOE option exchange in Chicago first bet on the price of bitcoins.
At that period of time, it was almost impossible to give a clear answer on ‘what is the current value of the bitcoin’ question. Everything was changing really fast — Bitcoin price fluctuated so bad.
By the beginning of December 2017, the current price of bitcoin increased by more than ten times compared to the beginning of the year. It reached its preliminary highest value on December 16, 2017. Then bitcoin cost a little less than 16,500 USD.
By the beginning of February 2018, the rate had been more than halved. After this, things went wrong: large investors sold their bitcoins and made a profit. Private investors took up their lead.
However, the political tension in the spring of 2019 made the demand for alternative money rise again. In June, Bitcoin overcame a mark of 9,000 USD.
What is the Current Value of One Bitcoin: What Happened a Few Months Ago
In March 2020, the price of bitcoins dropped back to 4,000 dollars during the coronavirus crisis. This fact made people wonder ‘what is the current value of one bitcoin’ again.
After a two-month period of stability, the Bitcoin exchange rate has shot up again. In late April, the main cryptocurrency shot up sharply, briefly breaking the $9,000 mark. Then the rate fell by several hundred us dollars, and now it has started to grow again.
What is the Current Value of Bitcoin in US Dollars: What Happens Today
After considering the whole history of Bitcoin’s rate, we’re ready to answer the ‘what is the current value of bitcoin in us dollars’ question. Today, the exchange rate is about $9,903, and a number of analysts believe that Bitcoin is on the verge of the next stage of significant growth. In this case, the forecast didn’t arise from scratch.
Let me take the opportunity to underline the current rate of Bitcoin Private as well. Bitcoin Private was founded in February 2018, that is, it can’t boast of a long history of the appearance. Many users state that it offers some important advantages, including data protection, decentralization, and faster transactions. What is the current value of bitcoin private? Today, one Bitcoin Private = 0.121097 US Dollar.
Experts note an increase in the number of cryptocurrency wallets. There are only a few days left before the next halving. Is that the main reason? That’s right, it plays its role so bad!