Bitcoin is happening to be the oldest and most popular cryptocurrency in the world. You are not needed a middleman to carry out financial transactions. But, bitcoins are stored electronically that was launched as a Peer-to-Peer Electronic Cash System. Bitcoin is possessed multiple qualities that distinguish it from traditional fiat currencies. It does not exist physically; it is mined independently by people that have the resources to do so; it is stored and maintained using strong cryptographic keys, which is why it is called a cryptocurrency. It is running on a distributed ledger technology called blockchain that is recording every transaction on the network.
Bitcoin Price History
Bitcoin has come a long way and it is steadily rising from its initial price of $0.30 in 2011 to its all-time high of $19,783.06 in 2017. However, the Bitcoin price at https://www.webull.com/quote/ccc-btcusd is depending on several factors, most of which cannot be clearly defined by anyone. There are Bitcoin’s significant price movements since its creation:
Bitcoins are received acceptance in 2011 from an international non-profit digital rights group called the Electronic Frontier Foundation. Later, it was stopped accepting Bitcoins due to regulatory uncertainty. In 2012, the Bitcoin Foundation was launched, with more than 1000 merchants that are accepting it as a payment service.
In February 2013, it has the price of one Bitcoin rose to $22. A cryptocurrency exchange in the US got an endorsement in the US Commodity Futures Trading Commission (CFTC). Regarding the listing of an OTC (Over the Counter) product that would be based on the price of Bitcoin, it is marking the first instance of a Bitcoin financial product being approved.
These two years were a disaster for bitcoins as multiple cryptocurrency exchanges that were hacked. This period is having everal positives of deployment around 700 Bitcoin ATMs across the world. It is helped people access their Bitcoins conveniently.
The number of merchants and businesses are accepting BTC as payment continued to rise exponentially. In December 2017, as the Bitcoin price has increased astronomically to its all-time high of $20,000, Bitcoin started gaining further mainstream attention. The rate of transactions is increased threefold. However, in 2018, BTC has started a bearish run that saw it drop to $3,000 by the start of 2019.
Late, 2019 and early 2020 saw the launch of Bakkt Options and CME Options are respectively. Bitcoin is being globally adopted as currency as time goes on. The Bitcoin price has dropped to $4,800 since the turn of the last decade, but the future of BTC is searching as promising as ever.
You can check Bitcoin news before buying the coin. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.