Bitcoin Price History from 2009 to 2024
2024-11-13
Bittime - Bitcoin price history from 2009 to 2024. Bitcoin has been through an incredible journey since it was first introduced in 2009.
In this article, we will discuss how Bitcoin price has evolved over the years, including key moments that shaped the history of the world's first cryptocurrency.
The Year 2009: Bitcoin is Born Without a Price Value
In the beginning, Bitcoin had no value or price in the market as only a few people were aware of its existence.
Bitcoin's first transaction was recorded in 2009 on the BitcoinTalk forum, when a user by the name of NewLibertyStandard exchanged 5,050 BTC for $5.02.
With this transaction, Bitcoin's value was first calculated at around $0.00099 per BTC.
Year 2010: First Transaction for Real Goods
In this year, Bitcoin was used for the first commercial transaction. Laszlo Hanyecz, a member of the BitcoinTalk forum, bought two pizzas for 10,000 BTC.
In 2010, the price of Bitcoin never exceeded $1; the peak was only $0.39 per BTC.
In addition, this year also marked the opening of the first Bitcoin exchange, Mt. Gox.
Also read Bitcoin Reaches New ATH of Almost $90,000, Altcoins Go Up Too!
Year 2011: Bitcoin Breaks $1
2011 was a landmark year when Bitcoin reached $1 for the first time in February.
Then, in June, the price jumped to $30.
However, by the end of the year, Bitcoin experienced a correction and was trading below $5.
Year 2012: Stable with a Peak of $13
In 2012, Bitcoin price remained relatively stable around $5 for most of the year. Bitcoin experienced small increases and peaked at $13.45 in December.
This was also the first year Bitcoin experienced “halving”, which reduced the block reward from 50 BTC to 25 BTC.
Also read 1 BTC to IDR
2013: First Rise Above $100
The year 2013 became a milestone when the price of Bitcoin jumped from $13 at the beginning of the year to almost $250 in April, and then reached $1,100 in December.
This was the first time Bitcoin surpassed a market capitalization of $1 billion.
Also read Bitcoin Price November 2014-2024, Reaching New ATH in 2024!
Year 2014: Bankruptcy of Mt. Gox
The year 2014 started off well, but was shaken up when Mt. Gox, the largest Bitcoin exchange at the time, went bankrupt as it lost 744,000 BTC.
The price of Bitcoin dropped by more than 50% after this incident, but some large companies, such as Overstock and Microsoft, started accepting Bitcoin as a payment method.
Year 2015: Low Point at $150
Bitcoin started 2015 with a weak price and dropped to $150 in January, which was its lowest point.
However, the price slowly rose and reached $500 by the end of the year. It was also during this year that Bitcoin got its official currency symbol, ₿.
The Year 2016: Second Halving and Slow Rise
In 2016, Bitcoin price slowly increased and reached a peak of $750 in June.
This year also marked the second halving, reducing the block reward to 12.5 BTC. By the end of the year, Bitcoin almost touched $1,000.
Year 2017: The Big Bull Run to $20,000
2017 was a phenomenal year for Bitcoin, with the price jumping from $1,000 in January to a peak of almost $20,000 in December.
This rise brought Bitcoin to the attention of the global public. However, the end of the year was also marked by the controversial Bitcoin Cash fork.
Also read Fear and Greed Index Bitcoin: Definition and How to Use It
The Year 2018: Drastic Correction
After peaking in 2017, Bitcoin experienced a major correction in 2018 with a decline of around -73% YoY.
Google, Facebook, and Twitter even banned crypto ads on their platforms. Bitcoin closed the year at $3,693.
2019: Up to $13,000 and Back Down
2019 brought high volatility, with Bitcoin rising from under $4,000 to reach $13,880 by mid-year, before falling back and closing the year at around $7,160.
2020: Pandemic Impact and Significant Rise
In 2020, Bitcoin price dropped dramatically amid the COVID-19 pandemic to $3,850 in March.
However, after that, the price rose rapidly and reached $29,000 by the end of the year, driven by institutional interest from companies like MicroStrategy and MassMutual.
2021: Beyond $60,000
Bitcoin continued its upward momentum in 2021, reaching $60,000 in April before experiencing a decline in the following months.
The price stabilized around $50,000 by the end of the year, making 2021 one of the best years for Bitcoin.
Also read MicroStrategy's Bitcoin Portfolio Rockets Over $20 Billion, ROI Hits 100%
2022: Continued Decline
2022 was a difficult year for Bitcoin, starting at $50,000 in January, but falling slowly and stabilizing in the $20,000 to $30,000 range throughout the year.
Price volatility reduced, indicating a calmer market compared to previous years.
2023-2024: The Future of Bitcoin
As of now, 2023 and 2024 are predicted to be important years in Bitcoin's development, especially with the next potential halving expected to boost the price again.
While it is difficult to predict the exact price, Bitcoin is expected to continue to attract investors as global economic uncertainty increases.
References:
*https://calendar.bitbo.io/price*
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