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What Is Bitcoin?
Bitcoin (BTC) is a digital currency that facilitates peer-to-peer transactions without the need for an intermediary like a bank or government. The currency was launched in 2009 by an individual or group of individuals using the name Satoshi Nakamoto.
The decentralized nature of Bitcoin is based on the blockchain, a distributed ledger that records all transactions and makes it almost impossible to tamper with the supply or transaction records.
Each user has a digital wallet that stores their Bitcoins, which they can use to send and receive payments. One of the unique aspects of Bitcoin is its limited supply of 21 million coins, which makes it a deflationary currency. As demand for Bitcoin increases, its value theoretically should also rise.
BTC Coin To USD Chart
The Historical Price Of Bitcoin In The Last 10 Years
Bitcoin’s price has seen significant fluctuations over the last ten years, ranging from just a few dollars to its all-time high of nearly $65,000 in April 2021.
Here is a brief overview of the historical price of Bitcoin over the last eight years:
- In 2015, Bitcoin’s price remained relatively stable, fluctuating between $200 and $300.
- In 2016, Bitcoin’s price started to pick up again, reaching $1,000 by the end of the year.
- In 2017, Bitcoin’s price experienced a massive rally, reaching nearly $20,000 in December, before dropping back down to around $14,000 by the end of the year.
- In 2018, Bitcoin’s price saw a significant drop, reaching a low of around $3,200 by December.
- In 2019, Bitcoin’s price started to recover, reaching $13,000 by the end of the year.
- In 2020, Bitcoin’s price fluctuated between $5,000 and $10,000 for most of the year, before starting a new rally towards the end of the year and reaching nearly $30,000 by December.
- In 2021, Bitcoin’s price continued to rally, reaching its all-time high of nearly $65,000 in April, before dropping back down to around $30,000 by the end of the year.
- In 2022, Bitcoin’s price continued to rally, reaching its all-time high of nearly $46,624 in April, before dropping back down to around $16,195 by the end of the year.
Technical Analysis Of Bitcoin