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Bitcoin’s Price History
Bitcoin has had one of the most erratic trading histories of any asset class. The first significant price increase of bitcoin happened in 2010, when the value of a single bitcoin increased from a fraction of a penny to $0.09.
Since its inception, the cryptocurrency has had various ups and downs. Learn more about Bitcoin’s volatility and the factors that influence its price.
Bitcoin Price History
Bitcoin’s price fluctuations alternatively reflect investor excitement and disillusionment with its promise. After the 2008 financial meltdown, Satoshi Nakamoto, the secretive Bitcoin creator(s), developed it as a medium for daily transactions and a mechanism to sidestep established banking infrastructure.
Since then, the cryptocurrency has grown in popularity as a method of exchange, attracting traders who gamble against its price fluctuations. It has also evolved into a distinct form of investment — a means to hold money and hedge against inflation; moreover, Bitcoin has investments that are related to its price.
Though this new story may prove to be more credible, previous price variations were mostly the result of ordinary investors and traders wagering on an ever-increasing price with little basis in reason or facts.
