Bitcoin has come a long way in the past decade, going from a niche digital currency to a global financial asset. Let’s take a quick look at how its price changed every year on October 7th, from 2015 to 2024.
2015: $246 – Early Days
In 2015, Bitcoin was still new to most people and traded at just $246. Back then, it was mainly popular among tech enthusiasts and early investors who believed in the power of blockchain technology.
2016: $613 – Gaining Attention
A year later, Bitcoin more than doubled in value to $613. The community was growing, and more people started to see Bitcoin as a potential store of value. Excitement was building, especially with the Bitcoin halving event that year, which reduced the supply of new coins.
2017: $4,369 – Bull Run
By 2017, Bitcoin's price exploded to $4,369. This was the start of a major bull run, with more and more people hearing about Bitcoin and jumping in. The price would eventually soar to nearly $20,000 by the end of the year.
2018: $6,591 – Post-Boom Crash
After the 2017 hype, Bitcoin's price dropped significantly, and by October 2018, it was at $6,591. This was a tough year for investors as the market corrected itself after the wild growth of the previous year.
2019: $7,989 – Slow Recovery
Bitcoin started to bounce back in 2019, reaching $7,989. The market was stabilizing, and the focus shifted toward Bitcoin’s long-term potential, with more institutional investors showing interest.
2020: $10,603 – Pandemic Boost
In 2020, with the COVID-19 pandemic shaking the global economy, Bitcoin’s price hit $10,603. Many people started to view Bitcoin as a hedge against inflation, especially as governments printed more money to deal with the crisis.
2021: $55,339 – Peak Bull Market
2021 was Bitcoin’s year of glory, with the price soaring to $55,339 by October. Institutional investors, companies like Tesla, and even entire countries were starting to embrace Bitcoin. It became a mainstream financial asset during this time.
2022: $19,958 – Bear Market
By 2022, Bitcoin faced another big correction and was down to $19,958. Inflation fears, rising interest rates, and economic uncertainty hit the entire crypto market hard, and Bitcoin wasn’t spared.
2023: $27,947 – Still in Bear Market
In 2023, Bitcoin was still recovering from the bear market, trading at $27,947. Many people were hopeful that a Bitcoin ETF (Exchange-Traded Fund) would be approved in the U.S., which could boost the price, but delays kept the market cautious.
2024: $63,000 – ETF Brings a Boom
Finally, in 2024, a Bitcoin ETF was approved, which brought a wave of new investors. This pushed Bitcoin’s price to $63,000 by October 7th. The ETF made it easier for traditional investors to get into Bitcoin, fueling a new surge in demand.
Conclusion
From $246 in 2015 to $63,000 in 2024, Bitcoin has experienced massive growth. Its journey reflects the rise of cryptocurrencies, moving from a niche interest to a major player in the global financial market. As more institutions and investors get involved, Bitcoin’s future seems brighter than ever.
