In recent times, Bitcoin investment becomes a sensation among inventors. Due to the increasing market demand of Bitcoins, the financial investors are choosing crypto investing.
Bitcoin is also becoming a famous instrument for investment because it is efficient against inflations. The percentage of returns is always high in this investment. You can refer to if you want to know more about crypto investment and strategies.
Although, Bitcoin has maintained a volatile price history from the beginning. Therefore, the requirement for analyzing the price history of Bitcoin becomes crucial for you before your investment. You have to take a very calculated risk to succeed in your investment plan, especially when you opt for a Bitcoin investment.
Moreover, a Bitcoin investment can fetch your many benefits as well. Now, you can pay your Bitcoins in any purchase through some payment apps. Therefore, the acceptance of Bitcoins has increased the adaptive power of Bitcoin and it has gained popularity because of this.
Is Bitcoin Overpriced? What You Need To Know
Table of Contents
You can refer to any website to search the price of Bitcoin today and you will get a high price than yesterday in most cases. Through a detailed inspection, you can find that you can easily get your investment back within a few months because the price of Bitcoin is now hitting the highest mark.
To compare with the price, you can find Ethereum is very near to Bitcoin but it has not reached the mark. Since its inception, Bitcoin has shown a positive picture of digital currencies. It has also encouraged other cryptos to emerge in the market. You can now find any crypto of your choice for investment because of Bitcoin.
Let’s find out what are the reasons the price of Bitcoin is going upward now.
- Just like in the stock market, the hype about Bitcoin investment is getting popular over years. Mainly, Bitcoin can provide attractive returns thus stock investors are investing in this crypto and finding it useful for the long run.
- Bitcoin becomes a financial instrument in which investors are securing their money from the harsh impacts of inflation. The profit percentage or the growth of Bitcoin is way more than inflation. Thus, Bitcoin becomes a popular instrument among investors nowadays.
- Many countries are starting to accept bitcoins as their payment method. Among all such countries, El Salvador ranks on the list. This country has legalized Bitcoins and you can use Bitcoins officially now here.
- Apart from countries, many financial institutions and businesses are now accepting Bitcoins as a payment. You can pay using some applications like PayPal for making payments.
Hence, the acceptance and legalization of Bitcoin over these years have increased its price. The growth of Bitcoin is now on an upward trend and it is breaking all the records it has earned previously.
Timeline
After detailing the price factors, let’s move on to the timeline of Bitcoin to assess the price and scope of Bitcoin more cohesively.
From 2009 to 2015
After the wake of the financial crisis, Bitcoin emerged as an alternative option for fiat currency in 2009.
In 2011, after gaining a little price hike, Bitcoin gained more than 2960 percent of growth. The price of Bitcoin has adjusted accordingly. However, after the initial growth, the price of Bitcoin started to fall after the year 2014. In 2015, the price of Bitcoin reached to lowest.
From 2016 to 2020
But, after 2016, the price of Bitcoin has never touched the base at all. From 2016 to the first quarter of 2020, the price of Bitcoin is shown to the highest mark at that time. In 2019, the price of a Bitcoin touched $ 19,345 and it stayed at that for a quite long time.
From 2020 to present
The recovery phase started in 2021 and it reached $68.9K in the last quarter of 2021. This year, the growth is expected about 400 percent.
Conclusion
So, these were some points that have hopefully shed some light in the history of Bitcoins. If you are planning to step into the world of Bitcoins, make sure you consider every important and effective strategy to make the most out of your investment in cryptocurrencies.
