Price History of Bitcoin

Bitcoin is a decentralized digital currency that was created in 2009. Since its creation, the price of Bitcoin has been a topic of interest for many individuals and has seen significant fluctuations. In this essay, we will look at Bitcoin’s price history and analyse the factors that have influenced its value.

2009-2010: Bitcoin was created by an unknown person or group using the pseudonym Satoshi Nakamoto. The first recorded transaction of Bitcoin took place in January 2009, and its price was negligible, essentially worth nothing. In 2010, the price of Bitcoin began to increase, reaching a high of $1 in June of that year. This marked the first time Bitcoin had a tangible value, and it was seen as a promising new technology by early adopters.

2011: However, the price of Bitcoin was highly volatile in its early years, fluctuating wildly from one day to the next. In 2011, the price of Bitcoin reached a high of $31.91 before crashing down to just $2 by the end of the year. This pattern of high volatility continued over the next several years, with prices fluctuating between several dollars and several hundred dollars.

2013: In 2013, the price of Bitcoin began to experience a new surge, reaching a high of $266 in April of that year. The growing recognition of Bitcoin drove this surge as a legitimate currency and increased media coverage. However, the price of Bitcoin once again crashed, reaching a low of $50 by December of the same year.

2017: The price of Bitcoin continued to fluctuate over the next several years, with some short-lived surges followed by crashes. However, in 2017, the price of Bitcoin experienced a massive surge, reaching a high of nearly $20,000 in December of that year. This surge was largely driven by the growing interest in cryptocurrency and the recognition of Bitcoin as a store of value, similar to gold.

2018: However, the price of Bitcoin once again experienced a crash in 2018, falling from its all-time high to a low of around $3,000 by December of that year. This crash was largely driven by increased regulatory scrutiny, as well as concerns about the security and stability of cryptocurrency exchanges.

2021-2022: Since then, the price of Bitcoin has experienced several more fluctuations, with some short-lived surges followed by crashes. The price of Bitcoin is around $40,000, having experienced a surge in late 2021 and early 2022. This surge has been largely driven by increased institutional adoption of cryptocurrency and the growing recognition of Bitcoin as a legitimate asset class.

In this context, the crypto platform plays a great role in one’s trading or investment career success. Therefore, a lot of research is required on your end. One such platform is the Immediate Bitcoin site, which offers users the ability to trade Bitcoin and other cryptocurrencies in a safe and user-friendly environment. However, it’s important to do your own research and understand the risks involved before investing in any cryptocurrency.

Covid 19 situation

Price movements between spot and futures markets for bitcoin are strongly connected. The estimated findings for the VAR-BEKK-GARCH model demonstrate the existence and directional nature of volatility spillover. Bitcoin futures may be used as a hedge to mitigate risks in the Bitcoin spot market, as demonstrated by a hedging technique based on the VAR-BEKK-GARCH model.

The results reveal that the hedging capacity grew as the HE value climbed from 0.6446 to 0.6778, and we focus particularly on the period after Covid-19 for robustness testing. And last, we dig deeper into whether or not the age-old gold asset may be utilized as a hedge against the Bitcoin spot market. Based on the data, it appears that gold futures do much worse than Bitcoin futures.


In conclusion, Bitcoin’s price history has been characterized by high volatility and significant fluctuations. However, despite this volatility, Bitcoin has established itself as a legitimate currency and a store of value, and its price has steadily increased over time. The factors influencing the price of Bitcoin have included growing recognition of its legitimacy, increased media coverage, and regulatory scrutiny. As the world continues to embrace cryptocurrency, the price of Bitcoin will likely continue to fluctuate, but it is also likely to experience further growth in the years to come.

On the other hand,  if you are keen to diversify your investment portfolio, Oil tends to go in the opposite direction of bitcoin price, you can consider Oil Profit trading platform for the same

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