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Bitcoin price (BTC)

Bitcoin is the first cryptographic currency, and thus a pioneer that has changed the market forever. It is the most trusted and popular coin of this type, with the largest market capitalization. It is often called digital gold, as well as the currency of the future.

Bitcoin was not the first digital currency proposal, but it was the first cryptocurrency based on the P2P (Peer-to-Peer) system that achieved any market success. Block Zero, the first block in the BTC chain was created on January 3, 2009, forming the origin of the Bitcoin network. The source code was made available 6 days later by the creator, or a team of currency makers, under the pseudonym "Satoshi Nakamoto". The first Bitcoin exchange was established on October 2009 - at that time you could buy BTC 1309.02 for USD 1.

The huge breakthrough moment was the first exchange of digital currency on the exchange. On October 12, 2009, USD/BTC transactions were made and 5,050 Bitcoins were purchased for 5 dollars and 2 cents. The first rationalization of cryptocurrencies, although symbolic, revolutionized the perception of BTC in the eyes of numerous investors. Another further milestone in the history of digital currencies was the purchase of the first material property. May 22, 2010 is commonly called the "Bitcoin Day of Pizza", or the worst investment in the history of cryptocurrencies. The transaction took place in the city of Jacksonville, Florida. Two pizzas with a total value of approx. UDS 25 were purchased for 10,000 Bitcoins.

With the release of version 0.3 of the Bitcoin client, information about the digital currency spread throughout the internet. An article published on a popular technology portal presented the project to a wider audience, thanks to which the BTC/USD exchange rate increased by 900% within 5 days, reaching the price of 8 cents. The rapid increase in the price of Bitcoin encouraged more investors and initiated an annual boom period on the market. Half a year later, on February 9, 2011, the value of a Bitcoin had reached the price of one dollar. It hit a peak on June of the same year - an article published on the Gawker portal proved to be a hit, conquering the Bitcoin network and reaching a significant group of investors, helping raise the BTC price to USD 31 during the week.

In January 2012, Bitcoin hit television screens for the first time. The "Bitcoin for Dummies" episode was watched by about 9.45 million people, but it did not cause a sudden increase in prices - the Bitcoin rate grew gradually after an initial drop in the rate, described ironically as the first "bubble". The growing popularity of the digital currency meant that on November of the same year Wordpress decided to accept payments with BTC. The introduction of payments in a universal currency, independent of banks or other institutions, by one of the 25 most popular domains on the internet paved the way for later payments with Bitcoins.

China turned out to be a big player on the cryptocurrency market. In November 2013, the deputy head of the People's Bank of China spoke favorably at an economic forum about the Bitcoin market, which caused a huge increase of interest in the currency. During that month, the price of Bitcoin increased more than eight-fold. The BTC exchange rate exceeded USD 1000, reaching a peak value of USD 1242 on November 29, 2013. Just two weeks later, the People's Bank of China announced that Bitcoin was not a currency. Digital restrictions were imposed on the digital currency, stating that no financial institution can trade Bitcoin or offer other services associated with it. This had a huge impact on the value of BTC, and prices around the world slumped.

On March 6, 2014, an article was published by investigative journalist Lei McGrath Goodman, entitled "The Face Behind Bitcoin". The text appeared in Newsweek, full of understatements and speculation, but it attracted the attention of readers and media around the world to the digital currency market. Interestingly, as a result of the publication, Bitcoin fans collected approximately USD 23,000 for the person depicted in the article as the creator of Bitcoin - an unemployed engineer from California, Dorian Nakamoto.

Bitcoin fluctuated in price for around three years, without exceeding the threshold of a thousand dollars. Numerous factors influenced this, such as the infamous blog entry of Mike Hearn, a former Google developer associated with the digital currency environment. In the note, he called Bitcoin a "failed experiment" and announced that he had sold all his resources. Within 24 hours of the publication of Hearna's post, the BTC price fell by 50 dollars.

In November 2016, after one of the most controversial elections of modern times, Donald Trump was elected president of the United States of America. This caused a significant decrease in the value of FIAT currencies. To avoid losses, "traditional" investors began to look for alternative ways to locate their funds. Within 24 hours, the price of gold and the Bitcoin rate had jumped significantly, bringing the BTC/USD ratio up to USD 800.

In January 2017, Bitcoin's price exceeded USD 1,000 for the first time in three years. Since then, BTC quotes showed dynamic growth. In November, it exceeded 7,900 dollars. This was connected with Japan's acceptance of Bitcoin as a legal payment method and a hard fork of Bitcoin for Bitcoin Cash on August 2017. Anyone who had Bitcoin before the split of Bitcoin in his account got the same amount of Bitcoin Cash. This aroused the interest of investors due to the potential for doubling their profits.

In October 2017, another hard fork occurred, resulting in Bitcoin Gold. In the period November-December 2017, the mainstream media had become interested in the subject of digital currencies, reaching investors, who the BTC exchanges adopted with open arms. The cryptocurrency market recorded unprecedented increases - at a record time, the price for one BTC was around USD 20,000.

As of January 2018, the market value of Bitcoin amounted to USD 234,139,132,389.

Bitcoin
SymbolBTC
Initial release2009
ICONO
TechnologyBlockchain
FounderSatoshi Nakamoto
Total amount of coins21 milion

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