The Price of Bitcoin
You would be hard-pressed to find someone who wasn’t familiar with the term bitcoin. It has been entrenched in modern day society since 2009, and the bitcoin price to buy has been a cause of much breaking news over this time. While the bitcoin to USD price was effectively zero in 2009 due to not being on any exchange, the bitcoin price in 2010 was not much different. It sat at a measly bitcoin to USD rate of $0.39, and not many people saw that bitcoin price trend changing anytime soon.
In fact, if you looked at the bitcoin price historical graph in those early days, it’s almost worth saying that people invested in it purely to see what would happen. However, if you looked at that bitcoin price chart history from 2009 until today, it’s clear to see that the BTC to USD rate has altered considerably. So much so, that if you invested just $100 at the rate of $0.39c, and factored in the bitcoin price today, you would have over 26 million dollars in your bank account.
Some people will be well and truly kicking themselves for not predicting the price of bitcoin to rise as it has done, but equally as many people will be triumphing over withdrawing their investment before the bitcoin price drop in the bitcoin to USD value in January. Bitcoin price news is a continuous saga, but we’ve outlined some helpful information to help you gauge where the bitcoin price exchange will lead to next.
What does the Bitcoin Price History say?
We know that in 2009, the bitcoin to USD rate was zero. It was nothing. Then, when you looked at the bitcoin to USD chart in 2010, it was a measly 0.39 cents which could get you a few minutes of parking in the center of town, if that. It hadn’t garnered much attention, and most people believed bitcoin in USD was never going to take off. After all, who would invest in something they cannot touch, see, or feel?
However, the bitcoin price in 2013 was starting to look a little better. People were standing up and taking notice, and those who had made investments in it early on were beginning to get curious about what their investment was now worth. In June of 2013, the bitcoin price in USD was $100. However, by December of that same year, those who looked at the bitcoin price online could see it worth anywhere between $600 and $1,000. In fact, just one month earlier it had reached a peak of $1,242. Was that the end of it? Bitcoin hadn’t finished.
The bitcoin price in 2015 wasn’t as lucrative, but it was still substantially more than it was in 2009. It hit its peak on October 30, 2015, at $333.75, before decreasing to $326.55. If you look at the bitcoin price live today, it’s clear to see 2015 wasn’t the best year for Bitcoin, but who knew what the future would bring? The bitcoin price prediction for 2016 wasn’t looking beneficial, but it still reached a sharp peak of between $600 and $780 which is nothing to scoff at.
The bitcoin price in 2017, just last year, could be seen on bitcoin price live charts fluctuating in each waking moment. Was 2017 going to be the year of millionaires? It was looking likely. In just a 12-month period, the price of bitcoin had risen from around $900 to almost $20,000. It was a historic first and meant that an investment of $100 in 2010 was now worth over $51 million. Just take a look at the online bitcoin price graph history – the price is just off the charts.
What is the Bitcoin Price Now?
We have now reached a new year, and the bitcoin price of 2018 is looking uncertain. Many investors across the globe are keeping an eye on the bitcoin price live ticker, wondering whether today is going to be their payday or their downfall.
Many things happened in 2017 that could alter the future of bitcoin price history. China banned its use, Korea considered it but decided against it, and other countries embraced it – which proved to be beneficial on bitcoin price live charts. Canada well and truly encouraged its use and is even inviting top cryptocurrency miners from China to come live there to mine.
A simple google search will reveal all kinds of bitcoin price charts, the bitcoin price live, and the bitcoin price index with USD live pricing. Using such tools enables you to keep track of what the bitcoin price trend will be in 2018, and whether it’s worth to invest now, later, not at all, or to withdraw whatever investment you made prior.
The bitcoin price now, live, as of February 22, 2018, is BTC to USD 10,385.02. That’s what is the bitcoin price today, but what will it be tomorrow? Take notice of bitcoin price graphs, and you’re sure to find out whether 2018 is your year.
All this talk of value and the bitcoin price in real time, however, means nothing to the average person, unless they know what determines its value. What does determine the bitcoin price?
The Bitcoin Value Determining Factor
If you look at the bitcoin price chart of all time, and you’re not quite sure what it all means, it’s helpful to take a step back and understand where Bitcoin gets its value from. Of course, it’s a digital, decentralized currency that you can’t see or touch, so how does that make it valuable?
That’s easy. Its measurement of fiat currency determines the bitcoin price. Fiat currency being, of course, real money such as American dollars, the Euro, the Pound, and the Chinese Yuan. Each of these currencies has a symbol such as “$,” and so does bitcoin. It appears as any other currency would on foreign exchange markets.
However, we all know that standard money has an official value and price. One American dollar is worth one American dollar. Bitcoin, however, gets its value from averages on price feeds on global exchanges. But, that “average” can differ, depending on which exchange you’re dealing with. And, what determines that average? Supply and demand. That’s precisely what it comes down to. The more people want it, the more expensive it is.
So, what does that mean for the future of bitcoin? Nobody knows. History tells us that we may jus see it double, or even triple in value. Or, we could be right back where we started. Such is the thrill of cryptocurrency investment.