Bitcoin has seen by now many ups and downs in its value, as compared to the US Dollar. When it was first rolled out in around 2008, the Bitcoin price in dollars was equivalent to just a few cents, and now it is more than a few thousands! It's been a single decade and the Bitcoin price in dollars has undergone a paradigm shift. It has made many millionaires into paupers, and also made a few rich ones lose all their money in this meantime, the Bitcoin price in dollars has always been fluctuating.
Bitcoin Price in Dollars: Charting the History
It all started in late 2008, when the Bitcoin project was first registered, and the Bitcoin price in dollars was zero. Yes, this implied that free Bitcoin tokens were distributed to many by leading project stakeholders. By January 2009, Bitcoin started gaining momentum and the Bitcoin price in dollars rose by a few cents. It was approximately 1 USD being equivalent to 1309.03 BTC by October 2009. In 2010, the prices were still low, but now Bitcoin is getting worldwide attention. In May that year, the first online pizza for about 10000 BTC was purchased. July 2010 saw one of the highest jumps in Bitcoin prices in dollars at a time when the rate increased by 10 times in just 10 days and came to hit an approximate 0.08 USD per BTC. By November of that year, the share capital had risen to about 1 Million USD for BTC.
By 2013, the rate of Bitcoin increased gradually, to an almost 100USD per BTC, but what increased manifold was the number of transactions that started to happen, and how people started to consider this niche as a great money making opportunity. However, fraud with Bitcoin also majored during this time, and so the price remained pretty stable with minor ups and downs. By 2015, the Bitcoin price in dollars soared up to 262 USD per BTC and by mid-2016; it was about 3000 USD per BTC. Now this was the time when many people made fortunes out of Bitcoin and the Bitcoin wave was well established.
Now, by 2019, prices have risen to about 8600 USD per BTC if we see Bitcoin priced in dollars, and this means even larger investments in Bitcoin are now required to make trading even more feasible. This also signifies that the profit making potential in Bitcoin has risen by quite an extent, and it has been on an overall gradual rise if we compare it since its first launch in 2008.
Bitcoin Price in Dollars: Relevance
The main reason as to why the Bitcoin price in dollars is so much of relevance to investors and traders is because this indirectly implies what would be the value of your trade in crypto and how much profit can one expect. As well as market news and comparative investment decisions in gold and platinum, these are all dependent upon the Bitcoin price in dollars because people have started considering Bitcoin as a safe investment niche as well. Bitcoin prices in dollars have always remained of huge significance in the past, and are expected to remain so in the near future as well.