Bitcoin (BTC) has gone through several key phases since its launch in 2009 to date. Here’s a general analysis of price movements and developments over the years:
2009-2012: The beginning and early mining
• Bitcoin was created by Satoshi Nakamoto in January 2009.
• Initially, Bitcoin had no real market value and was traded among programmers.
• In May 2010, the first commercial use of Bitcoin occurred when 2 pizzas were bought for 10,000 BTC.
• By 2011, Bitcoin's price reached $1, then rose to $30 but later collapsed to $2.
2013-2016: Initial rise then stagnation
• In 2013, Bitcoin saw a significant rise as it surpassed $1,000 for the first time, but quickly collapsed to $200 due to issues like the closure of the Mt. Gox platform.
• The period between 2014-2016 saw a stagnation in prices, ranging between $200-$500.
2017: The big rise to $20,000
• The year 2017 was historic, as Bitcoin rose from $1,000 in January to $20,000 in December due to institutional investor interest and the rise of trading platforms.
• By 2018, prices collapsed to $3,000 due to the burst of the cryptocurrency bubble.
2019-2020: Recovery and the COVID-19 pandemic
• In 2019, prices gradually recovered to $13,000 but did not hold that long.
• In 2020, with the COVID-19 pandemic, the price temporarily dropped to $4,000 but later rose due to Bitcoin being adopted as a store of value.
2021: Peak at $69,000
• The year 2021 witnessed a historic jump for Bitcoin, reaching $69,000 in November, supported by the adoption of major institutions like Tesla and MicroStrategy.
• However, the end of 2021 and the beginning of 2022 saw strong corrections due to the rise in US interest rates and the collapse of platforms like FTX.
2022-2023: The bear market then recovery
• In 2022, prices collapsed to $15,000 due to the collapse of Terra/Luna and the bankruptcy of major platforms.
• In 2023, prices began to recover again, with Bitcoin reaching $35,000-$40,000 thanks to institutional interest from firms like BlackRock in Bitcoin exchange-traded funds (ETFs).
2024-2025: Bitcoin approaches new peaks
• In early 2024, Bitcoin returned above $50,000, and with the upcoming halving event in April 2024, forecasts suggest it could reach $100,000 or more.
Summary
Bitcoin has gone through several cycles of rise and fall, but it has proven itself as a valuable digital asset. The future depends on regulations, institutional adoption, and innovations in blockchain.
