Bitcoin was first introduced in 2009, and ever since, it has had an extraordinary performance in the market. This remarkable performance is evident given the current Bitcoin price, which is 838,000,000% higher than the original price.
At first, when Bitcoin came onto the market, it was a currency for those few with unconventional views. Those who used it wanted to avoid the shortcomings arising from traditional payment solutions. Others hoped that Bitcoin would be the future of financial technology while some needed to create a certain impression against fiat money, which was not doing well after 2008’s period of reduced economic activity.
Now, Bitcoin is trending everywhere. You can hardly miss Bitcoin in the headlines of major media outlets. Bitcoin is quickly becoming a huge apart of the world’s vernacular for a currency with very a humble beginning.
The Humble Origins of Bitcoin
A few years ago, few would have imagined that Bitcoin would be getting the attention that it has now. When it was first introduced, many people overlooked it with others considering it as a currency for criminals.
Most of those people who used to criticize it are the ones who have actively ventured into cryptocurrency trading today. This was after realizing the great potential that Bitcoin has.
Now, the price has soared up beyond expectations
When you look at the current Bitcoin price, you will feel sorry for Laszlo Hanyecz, one of the early bitcoin adopters who had to purchase a pizza with 10,000 Bitcoins! However, many argue that this was the time when Bitcoin achieved its breakthrough when it was assigned the value of a dollar for the first time.
When the first market transaction for bitcoin occurred, 5,050 Bitcoins were going for a mere $5.02. Today, the same number of Bitcoins can cost you over $42 million.
As time passes by, many are realizing the potential that the cryptocurrency industry has. That is why there are several sites that offer cryptocurrency trading services. If you want to buy or sell Bitcoin, then check at Nakitcoins and visit the website for the best trading experience.
The current Bitcoin Price could potentially rise again
For just ten years, the Bitcoin price has gone up by a whopping 838 million percent. If you think that figure is ridiculous, then you will be surprised that experts project the price to go up even further. Currently, Bitcoin is the most stable form of digital currency and it has room for improvement.
A single bitcoin now goes for approximately $8,459. Surprisingly, market analysts still consider this price cheap. This is perhaps the reason why many people, especially the millennial generation, are actively into Bitcoin trading. Analysts argue that Bitcoin is the only thing in the market that is not overvalued, hence attracting more and more investors.
Bitcoin still remains one of the most important forms of digital currency. Anyone who wants to assess how well the cryptocurrency market is doing uses Bitcoin. Bitcoin can still be affected by the economic recession, but it remains a very strong currency.
At the end of 2017, the price for a single bitcoin was $19,429. At the end of 2018, the figure had dropped to a mere $3,831. By June 2019, the price was $13,000. This indicates that many people still value Bitcoin. It is only a matter of time before Bitcoin hits new heights.