History of Bitcoin creation

History of Bitcoin creation

The history of Bitcoin (BTC) creation began on October 31, 2008, when in the thematic forum there was published a post by Satoshi Nakamoto. The story was based on an article describing a new, decentralized financial unit, which is independent of banks, has the possibility of anonymous users, as well as excludes any methods of fraud through asset counterfeiting.

The year of the Bitcoin origin is 2009. In January of this year, the first block of money was generated, and in a few days, the first transaction was transferred to another user's purse. At the end of January 2009, the coin rate ranged from 640 to 1620 coins per $1. The remarkable date is May 22, 2010. On that day, American programmer Laszlo Heinitz bought 10,000 Bitcoins for pizza. In today's money, it is equal to $500 million. May 22 is celebrated as "Bitcoin Pizza Day when the price of the asset began hitting its highs.

Bitcoin price change

Bitcoin cryptocurrency rate is cyclic. You can draw this conclusion based on the dynamics of the asset's price since 2012. After making the first real purchase, in 2010, the price of the crypto asset was $0.5 per coin. From 2011 to 2012, the price of the asset was $10. This prolonged persistence in value began to generate investor interest. In 2013, the price of Bitcoin increased its value to $600, but then there were no reliable methods of storing the asset, which led to many cases of theft of coins by fraudsters. In 2014, the price was $310, and the first secure cryptocurrency storage services appeared.

In the winter, 2017, the price per Bitcoin coin increased sharply by 20 times. So, from $1,000, the rate rose to $20,000 per coin. This process is attributed to many factors inherent in the market at the time. The main one is the popularization of blockchain by miners and various media, which caused many enthusiasts to start mining Bitcoin blocks. Also, the reason for the growth was the halving of Bitcoin, which reduced the reward of miners exactly twice, resulting in a shortage of supply in the market, and the price went up.

From 2018 to 2019, the price fluctuated between $4,000 and $16,000, and from 2020 to 2021, a new all-time high of $69020 per coin was broken. Notably, the sharp rise also happened after the halving.

Where to make an online cryptocurrency exchange?

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