24-hour trading volume: $24,048,364,897 USD.
Today's Market Cap: $363,185,352,939 USD.
Bitcoin was launched in 2009 by an unknown software engineer or a group of people using the pseudonym, Satoshi Nakamoto. The idea behind the creation of Bitcoin is to create a decentralized financial (DeFi) system that is not controlled by any central bank, group, or government.
The creation of bitcoin has over the years changed the face of the world’s financial markets, as people for the first time, now have the option to either use fiat or cryptocurrency for payments. The popularity of Bitcoin has led to the creation of other altcoins and the overall development of the crypto ecosystem.
Major Bitcoin Price Movements
At inception, the price of bitcoin (BTC) was $0, majorly because only a few tech and financial enthusiasts knew about it. By July 2010, the price jumped from a fraction of a cent to $0.09. By October of 2010, a major financial shakeup, and increased popularity pushed the price of bitcoin (BTC) to the $0.10 price region for the first time ever.
In 2011, the demand for bitcoin (BTC) soared, and the price of BTC jumped to $1 in April, entering into a mini bull run in the process. After breaking the $1 barrier, the publicity broke the media space, and the BTC price, in turn, mooned over 300 percent in the subsequent months, peaking at $32. The value of bitcoin (BTC), however, crashed back to $2 at the end of the year.
In 2017, bitcoin attracted good publicity on Reddit, which affected the bitcoin price positively that year, and by April bitcoin (BTC) broke $100 and by November 2017, it reached $1,000. The calls for regulation, the covid-19 pandemic, and the immense pressure on the USD sent the price of Bitcoin to $29,000 at the end of 2020.
The biggest price leap for bitcoin was in 2021 when the price of BTC peaked at an all-time high of nearly $70,000 in November. The war in Ukraine and the global economic woes have taken their toll on the flagship crypto throughout 2022 as interpreted from recent BTC News. The bitcoin (BTC) price is currently (at the time of writing) hovering around $23,861. Follow crypto.news for more information on the latest Bitcoin market updates.