This made its fans millionaires or even billionaires.
Let us now have a few highlights of the important maximum and minimum prices of bitcoin following the years of its succession.
2009 (year of launch)
At the time of launch, the maximum price of one bitcoin was offered at $0.008 to $0.08. And in the first years, the price grew by 900% which was a dramatic success for Bitcoin. The following were the factors which ensured the success of World's first Cryptocurrency:
2010 - 2012
Following the year of launch, bitcoin prices were still not rising up and providing an ultimate catch for the investors. But the consistency and provision of encrypted transactions successfully motivated various investors around the world and trading accelerated.
This gave a good stable push for the price of the Bitcoin and it remained in a price range of $0.30 - $12 - reaching the end of 2012 which was already a very nice rise in the value.
2013 - 2014
A significant rise in the value was cited all the way of 2013. The crypto economy rose very nicely and having no potential rivalry at the time bitcoin started catching fire at $100-$1,170. It was a huge success for the crypto world and also it gave a proper channel and motivational heads-up to other competitive entities and other cryptocurrencies except Bitcoin started emerging over the radar.
But in 2014, Bitcoin started to fall again all the way back to $200 per one Bitcoin - almost where it started the enormous rise in 2013. Still, there was a great time ahead for Bitcoin.
2015 - 2017
As 2015 started, investors finally came to the realization and cryptocurrencies gained their popularity among investors. This was a huge comeback for Bitcoin, from $200 in 2015, all the way up to the historical high in December 2017, approximately around $19,800.
2018 - 2019
After the start of 2018, the price of Bitcoin has been less stable and continuous ups and downs are witnessed, though not as bad of a crash if we consider 2014. But from the start of 2018 going into the beginning of 2019, the price of bitcoin has been more or less continuously declining. And since this downtrend started many people are wondering if the time for value investing in Bitcoin is gone.
And the right answer from a traders/investors perspective is - Always go with the trend! Whether Bitcoin will go up or down, there will be still great opportunities for huge profits if you simply trade with the direction of the price. You can read how to do that in my trading strategies articles which you can find here.
Now, let’s look at some of Bitcoin’s historical peaks and throughs - discussing the most important highest and lowest prices in the past.
Highest Bitcoin Prices
The highest prices of bitcoin as illustrated above were witnessed in the year 2017 where at the end of that year it closed to $19,800 approximately. The reason for such high levels in 2017 seems to be fairly logical and based on the systematic analysis;
These were various reasons which proved to be the ultimate rise in the price of the Bitcoin at the start of 2017 and all the way to the end of 2017.
Lowest Bitcoin Prices
The lowest prices in the history of bitcoin other than the starting years were witnessed in 2014. The lowest price was $150 approximately which was a huge blow for the cryptocurrency; because it was considered stable at $1,000 approximately in the year before.
There were many reasons to list for the decrease in the price of bitcoin and some of them are as follows:
An ultimate reason for such an inclined decrease in the price of bitcoin includes legalities and regulations posed by various governments and financial authorities. These regulations not only limit the use of cryptocurrency among their lands but also pose an ultimate threat to their reputation among the global markets.
The very basic reason for posing such lame regulations just reveal the ultimate fear of governments that cryptocurrencies will take over the paper/cash money.
2. Hacking thefts
Though Bitcoin interface offers the strongest and most vital security definition against the hacking and other cyber thefts; though many criminal organizations and cyber hacking practices are always peeking for a chance to get their hands on the ultimate wealth.
3. Bitcoin Mining Scams
Many definite mining scams poisoned the air for cryptocurrency platforms and burned the bridge really deep. Different companies and organizations took advantage of the mining news and offered their infrastructure to the general public for mining.
“Cloud Mining” or “Rented Mining” went rogue when done with wrong people and some investors lost their interest in mining which is a potential source for extracting the Bitcoin.
4. Rivalry / Competition
Another promising factor which ensured some declines for bitcoin regarding the price was the rising competition. Not only other investors and business tycoons invented their own cryptocurrencies to compete with bitcoin but also started the same services as those of bitcoin on very low and compatible rates.
Other cryptocurrencies successfully lured investors and the global market to invest in them, because they offered better “Cost Effectiveness”. Although providing customers with low prices was enough motivation yet some found the idea of trying a new cryptocurrency unique itself. That was an additional reason why Bitcoin had to suffer in the aforementioned years.
These were various reasons through which Bitcoin received some of the most fatal blows in its history. The currency was almost on the brink of getting depleted and then at the start of 2017, it caught an inspiring heads up and was back on track, coming back much stronger than ever before!
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