What was the price of Bitcoin ten years ago (the price of Bitcoin more than ten years ago)?

What was the price of Bitcoin ten years ago? Bitcoin reached its all-time high

What was the price of Bitcoin ten years ago (the price of Bitcoin more than ten years ago)?

What was the price of Bitcoin ten years ago? Bitcoin reached its all-time high of $10,400 on January 3, 2009. However, this was not the first time such a situation occurred: since then, the price of cryptocurrency has fluctuated, with Bitcoin rising to $13,600 at the end of 2011, starting to decline in early 2015, and rising to $15,000 in the middle and late 2014, among other instances. At that time, digital gold was silver, oil, and other precious metals, but later, as the economic environment changed and inflation rose, lower high prices emerged.

Bitcoin was initially referred to as a “value investment,” but it has evolved into an asset class. Its history has been created by many people, for example, JPMorgan’s investment in Ethereum and the launch of some famous fintech companies such as Facebook and Square. Now, these companies all hope to realize their business models and profits through blockchain. Therefore, they have decided to adopt Bitcoin as a form of legal currency.

The price of Bitcoin more than ten years ago

Editor’s note: This article is from Caiyun Blockchain (ID: cybtc_com), authorized by Odaily Star Daily for reprinting.

After the price of Bitcoin skyrocketed to a new high, some investors began to reevaluate the price of Bitcoin.

According to CryptoQuant data, since September 2018, approximately one million new addresses have held over 100,000 BTC. These new addresses include many early users who purchased Bitcoin from exchanges. Now they are considering converting these funds into ETH or other cryptocurrencies to facilitate their transactions. (Image source: Coinmarketcap.com)

Currently, most people consider this as a hedge against inflation.

However, people still anticipate a significant decrease in supply by the end of 2019, as the market is in a state of “extreme oversold”. As more institutional investors enter the field and the adoption rate of safe-haven assets increases, this situation may take some time to fully change. However, if Bitcoin reaches recent highs again and sets a new record, this event may trigger more chain reactions.

Although Bitcoin has not yet broken its historical all-time high from more than ten years ago, it is going through a very critical development stage, namely, the collapse period in 2017. At that time, Bitcoin had lost many support levels and experienced a significant pullback. However, compared to previous similar highs, the recent rebounds in several cycles do not seem surprising.

The last time such a decline occurred was at some point in early 2014 when the price of Bitcoin was about $30,000, and then it fell to around $20,000 in the following months, and then returned to above $1.

As Bitcoin is one of the most popular investment products globally, it will continue to maintain a strong upward trend until the second half of 2020 is broken. When we look back at the changes in Bitcoin over the past ten years, we will see many positive market signals:

1) Within the industry, people generally have a positive outlook on the future prospects of Bitcoin; 2) The status of Bitcoin as a store of value will be strengthened to a certain extent; 3) Bitcoin has tremendous potential for various purposes such as payments and portfolio management.

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