#CryptoCPIWatch crypto cpi

Bitcoin’s price history reflects dramatic shifts since its inception. In 2009, the genesis block was mined by Satoshi Nakamoto, releasing 50 BTC with no market value. By October 2010, bitcoin’s price was generally in the range of US$ 0.10 to US$ 0.20. One famous early transaction—10,000 BTC for two pizzas—serves as a well-known example of how low the value of bitcoin was at the time.

In 2011, bitcoin reached parity with the US dollar and peaked near US$ 30 before a sharp downturn saw prices drop to about US$ 5 by year’s end. In 2013, the price began at roughly US$ 13, crossed US$ 100 by April, and surged past US$ 1,000 in November. However, the subsequent hack of Mt. Gox, once the world's largest bitcoin exchange handling over 70% of global transactions, along with increasing regulatory pressures, ushered in a prolonged market slump.

From 2016 to 2020, bitcoin’s price gradually recovered. By the end of 2016, it traded above US$ 900. In 2017, after breaking US$ 2,000 mid-year, it soared to nearly US$ 19,200 in December. The crypto winter of 2018 and sporadic rallies in 2019 kept prices volatile, but the pandemic in 2020 spurred a strong rebound, with prices closing near US$ 29,000.

In 2021, bitcoin surpassed US$ 40,000 in January and reached about US$ 65,000 by April, only to correct sharply in the following months. Early 2022 saw prices dip below US$ 30,000, but a gradual recovery in 2023 lifted the year’s close to around US$ 42,000.

2024 brought further changes. Early-year approvals of Bitcoin investment products pushed prices to highs near US$ 74,000. On April 19, Bitcoin’s halving reduced the block reward from 6.25 BTC to 3.25 BTC, with prices settling around US$ 64,000. Later, a U.S. Federal Reserve rate cut in September spurred a rally, and by November, bitcoin broke multiple records—crossing US$ 80,000, reaching US$ 91,000, and nearing US$ 100,000 on some exchanges.