Bitcoin value increase 2013

4 thoughts on “The past and future of Bitcoin’s price”

bitcoin On January 3 2009 Bitcoin was born when the genesis block was mined by Satoshi himself. On October 5 2009 the first exchange rates for Bitcoin were published, with 1 Bitcoin being worth $0.00076, or about 1309 Bitcoins for $1. On May 22 2010 the first purchase of real goods with Bitcoin occurred, when someone bought $25 of pizza for 10, 000 Bitcoins, giving a price per Bitcoin of $0.0025 (those 10, 000 Bitcoins would eventually be worth $10 million, perhaps the most expensive pizza in history).

In July 2010 the exchange rate increased an order of magnitude over a 5 day period, from $0.008/Bitcoin to Bitcoin to $0.08/Bitcoin. Mt. Gox was established the same week, and would become the biggest Bitcoin exchange in the world (until it collapsed). The price steadily rose after that, and in November 2010 the Bitcoin market cap broke $1 million, 1 Bitcoin was equal to $0.50 at that point. Around February 2011 Bitcoin reached parity with the U.S. dol.08/Bitcoin. Mt. Gox was established the same week, and would become the biggest Bitcoin exchange in the world (until it collapsed). The price steadily rose after that, and in November 2010 the Bitcoin market cap broke million, 1 Bitcoin was equal to Bitcoin to $0.08/Bitcoin. Mt. Gox was established the same week, and would become the biggest Bitcoin exchange in the world (until it collapsed). The price steadily rose after that, and in November 2010 the Bitcoin market cap broke $1 million, 1 Bitcoin was equal to $0.50 at that point. Around February 2011 Bitcoin reached parity with the U.S. dol.50 at that point. Around February 2011 Bitcoin reached parity with the U.S. bitcoinpricechart2 lar (1 Bitcoin = $1).

In May 2011 the price began to rapidly increase, and the first Bitcoin bubble was born. The price reached a peak near $31 in June 2011, with a Bitcoin market cap of over $200 million, before steadily declining to $2 per Bitcoin by November 2011. After this point the price steadily increased to $13 Bitcoin in early January 2013.

The 2nd Bitcoin bubble then began, and the market cap of Bitcoin surpassed $1 billion in late march 2013. Price soared to $266 per Bitcoin in early April 2013, giving a market cap of $2-3 billion. The price then collapsed to below $50 only a couple of days later, and eventually steadied out near $110 per Bitcoin later that month, and stayed near that level through October 2013.