The full history of Bitcoin in one article

In the history of bitcoin since 2008, there have been many ups and downs. There were times when the cost of this cryptocurrency did not move from the dead center for a long time. There were also sharp ups of course to unprecedented quotes. But even despite such instability, up to 300 thousand payments in Bitcoins are made every day, and the sums continue to grow.

8 years for a currency is enough time to gain a foothold in society and attract your followers. Let’s take a look at how Bitcoin cost has changed not only in the last 1-3 years, but in general in the entire history of Bitcoin. Get ready to learn a lot of new facts!

What was the course in 2008

August

Three guys, Neal King, Vladimir Oksman and Charles Bray are applying for a patent on encryption technology. All three deny any connection with Satoshi Nakamoto, the alleged creator of the concept of Bitcoin. In the same month, the trinity registers the domain Bitcoin.org using an anonymous domain name registration service.

October

Despite all the above, Satoshi Nakamoto publishes his report on the concept of electronic settlements based entirely on P2P technology. In his opinion, this will allow to solve the problem of counterfeiting, as well as give Bitcoin the opportunity to gain a foothold at the legal level.

The launch of the first block, codenamed Genesis, as it were, initiates the start of “mining”. Later that month, between Satoshi and Hal Finley, the developer and activist in cryptography, the first transaction is recorded.

Course in 2009

February

The foundation of the world’s first dwdollar Bitcoin exchange, which is no longer functioning now.

May

On May 22, 2010, a historic event occurred with the purchase of pizza for 10 thousand bitcoins (about $ 25), which today amounts to almost $ 3 million. Just imagine how that guy now regrets that he spent them on some pizza

July – 1 Bitcoin = $ 0.080

July 12, 2010 is the day when the cost of Bitcoin increased tenfold, from $ 0.008 / BTC to $ 0.080 / BTC. Having stayed at this point until October 7, the cost of cryptocurrency began to rise.

November – 1 Bitcoin = $ 0.50

A month later, on November 6, Bitcoin capitalization reached $ 1 million, and the value on MtGox increased to 50 cents for each Bitcoin.

2011

On February 9, 2011, 1 Bitcoin cost $ 1, after which a long decline went. On March 23-24, the BTC reached parity with the euro and the British pound. On June 2, the cost of one BTC was $ 10, and a week later it took off to $ 31.91.

The big bubble is the common name for the incident that took place on June 12, when, after reaching the peak of value, Bitcoin fell sharply to $ 10. That year there were a lot of different events! On July 13 of that year, it became known about the most massive theft – 25 thousand BTC were stolen from the electronic wallet of the founder and participant of the Bitcoin Forum. The remaining months of the same year were entrenched in the history of Bitcoin with a succession of burglaries and thefts and a general decline in trust in Bitcoin as a promising instrument of mutual settlements and investment.

2012

2012 in the history of Bitcoin is marked by the act of translating Bitcoin from digital abstract currency into something physical – to the bank Bitcoin Central, which received a license and recognition by European regulators. However, in the value of the currency did not occur significant changes.

2013

In fact, from 2011 to 2013, the cost of bitcoin remained almost unchanged, but on February 22 the quote rose to $ 30. The next increase happened on February 28 – then Bitcoin rose to $ 31.91. March 11, the price has risen to $ 37, and March 22 is already up to $ 74.90. Finally, on April 1, the cost jumped above $ 100, and over the next 9 days, it doubled again (as of April 10, 2013, the cost was $ 266). But on April 20, another crash occurred.

October 2 is a day that personifies a significant drop in Bitcoin (up to $ 109.71), due to the arrest of the Silk Road trading platform.

November

The cost of one bitcoin soars to $ 700, it happened like this: on November 6, the cost of bitcoin grew to $ 269, already on November 17, the cost doubled to $ 503.10, and in the following week it rose to an unprecedented $ 1242. It seems that on that day everyone realized the real potential and significance of this currency.

December

By December 5, the cost fell to $ 1,000, and by the 17th, it almost halved and was below $ 600. This decline happened due to the ban by the Chinese Central Bank financial institutions to work with Bitcoin. This ban was imposed after the statement of the People’s Bank of China that bitcoin is no currency, and it has nothing to do with legally enforced fiat currencies. Such tough measures reflect the potential possibility of Bitcoin to affect China’s financial stability, but today China retains the status of the largest bitcoin-trader, and 80% of transactions are made in this country.

2014

January

Judging by the Coindesk charts, the cost of Bitcoin from January 1 to January 5 rose from $ 770 to $ 950, and then, at the very beginning of February, fell to $ 700. Since then, the cost of cryptocurrency has gradually decreased, and at a significant pace.

Bitcoin Storage Elliptic launches the world’s first secure service for the protection and storage of bitcoins. All deposits are insured by Fortune 100 and stored in full. This means that Elliptic does not touch customer assets. Overstock.com becomes the world’s first major online trading platform that introduces support for bitcoins. Following her followers and other platforms.

June 2014

The US government auctioned more than 29 thousand BTC seized from the illegal Silk Road marketplace. The successful closure of this case and the holding of an auction allowed Bitcoin to additionally protect itself from the status of “money for criminals”.

From this point on, many people realized that working with the blockchain technology makes it possible in the event of an acute need to calculate users and participants in transactions.

October 2014

TeraExchange announces the first transaction through a regulated exchanger, and the introduction of a new bitcoin hedging tool, thereby stimulating confidence in the Bitcoin community.

December

By the end of the year, the Bitcoin exchange rate was $ 310. Obviously, 2014 can be considered “stabilizing” in the matter of bitcoin, which means that the currency is growing up and strengthened. It is important to note that from the point of view of the development of the market and the community, 2013 is very different from 2014. In 2013, we were not able to transfer money to many places where today Bitcoin is in free use. Many bitcoin platforms have not even been launched yet. In those years, investing in BTC was much more risky than it is now.

2015

The beginning of 2015 gave great hopes, and we saw another Bitcoin increase. By March 3, 2015, the cost of Bitcoin was $ 281, after a sharp drop to $ 177 in mid-January.

The price of Bitcoin exceeded $ 500, it seemed some global changes were taking place and a reassessment of the value of the digital currency. However, later it was connected with the activity of one financial pyramid in China, which Sergey Mavrodi allegedly founded already known to us from the MMM. According to other experts, the most favorable moment for the development of digital currencies has just come.

December

The beginning of winter 2015 for the bitcoin exchange rate was marked by a rebound back, on average, the rate was at the level of $ 355-380.

2016

January

Leaving Mike Hearn, one of the main Bitcoin Core developers, from the platform and publishing his article caused a collapse of the currency rate by as much as $ 50 (up to $ 374). In his material, Mike predicts a rapid depreciation due to censorship in the Bitcoin community, unwillingness of project management to increase the volume of currency and the concentration of all operations (with Bitcoin) in the Chinese market.

March

The Cabinet of Ministers of Japan recognizes Bitcoin as one of the varieties of virtual currency that can be used to pay for goods and services, like ordinary money. In the same month, the largest online trading platform in South Africa, Bidorbuy, began to accept payment in cryptocurrency. But, despite such a significant expansion of the spread of Bitcoin, during February and March 2016, its course remained almost unchanged and kept within $ 395-415.

April

During April, the Bitcoin rate gradually rose to $ 451-454, and remained almost unchanged.

May

At the beginning of the month, the cost of cryptocurrency decreased by 10-15 dollars. Throughout May, the course has steadily increased, and by the 30th it reached $ 600. Thus, in less than a month Bitcoin gained more than $ 150 in “weight”. At this point, the total amount of capitalization of the currency exceeded $ 30 billion. The reason for such a rapid jump in the cost of Bitcoin is not fully understood. Then financial experts noted that the rate began to grow after increasing the volume of cryptocurrency purchases in the Chinese market. By the end of May, investors from the Middle Kingdom began to buy bitcoins for $ 570 or more. According to the research, from January to May 2016, the volume of operations for buying and selling cryptocurrency for yuan increased by more than 15%.

June

Until the middle of the month, the Bitcoin rate was constantly increasing. By June 13, he reached $ 722. Then collapsed more than a hundred to $ 603-605.

August

During July, bitcoin gradually fell. Since the beginning of August, its course continued to decline and by the middle of the month it reached $ 579.

September

Almost all of September, the value of the currency has not changed. But compared to August, Bitcoin “won” an average of about $ 40. After that, its price was about $ 600.

October November

In October, the bitcoin exchange rate against the major world currencies gradually increased. In November, his “weight” increased even more. In just two autumn months, the cryptocurrency increased from $ 600 to $ 780. Many experts attribute this to the falling value of the Chinese yuan against the US dollar.

December

In the first month of winter, Bitcoin grew tirelessly. By the 23rd, it reached $ 950, and at the end of December and the beginning of January it fell by a hundred. Most likely, this was due to low activity in the financial market during the New Year and Christmas holidays, after which the cryptocurrency rate exceeded $ 1000! 2017

Lively turned out to be a year for Bitcoin. Its cost increased 16 times, fell slightly under the influence of external factors, but only for a couple of thousand dollars … Although at the beginning of the year it cost only one.

In 2017, it became clear that the BTC is positioned as a decentralized monetary unit, but even it (and not always indirectly) can be influenced by the decisions of various governments. And sometimes it seemed that the “state” managed to curb the main cryptocurrency …

History for 2017

January

After checking by the state bank of China the activities of the country’s main cryptocurrency exchanges (the largest in the world) and the identification of some violations, the BTC rate collapsed by a third.

The exchanges that were inspected by the main bank of the Celestial Empire: OKCoin, Huobi and BTCC.

At the end of the month, for the first time in their history, these same cryptobirds began to charge dealers with a commission. These were the only sites, the monetization of which occurred at the expense of margin (difference in exchange rates). As a result, BTC trading volumes fell to a minimum. The Chinese stock exchanges took such steps to reduce the bitcoin exchange rate volatility and speculative moods of traders.

February

Again, the intervention of the state bank of China caused a sharp fall in cryptocurrency. This time, the financial regulator forced the exchange to limit the withdrawal of funds outside the country. Thus, the government of China decided to deal with the outflow of funds from the territory of the state. Due to the introduction of restrictive measures by the Chinese government, most of the crypto traders “moved” to the Japanese stock exchanges. As a result, the bulk of bitcoin purchase and sale transactions began to be concluded in this country. In Austria, opened the first bank specializing in the exchange of cryptocurrency for Fiat. This is the first financial institution of this kind of activity in the world.

March

BTC has fixed a new record of value against the dollar. March 2, Bitcoin for the first time traded at $ 1290. In the same month, Bitcoin first became more expensive than 1 ounce of gold. But then, due to the update of the blockchain protocol, the cryptocurrency rate dropped to $ 900.

April

On April 3, recognition by the Japanese government of BTC as an official means for payments caused a rise in the crypt rate by almost 10%.

May

In the middle of the month for the first time Bitcoin reached $ 2,000. By the end of May, the main tycoons of the BTC market agreed to update the crypto network algorithm. Segregated Witness was able to partially solve the problem of blockchain scaling.

June

At the beginning of summer, the capitalization of the cryptocurrency market overcame the mark of 100 billion dollars. By June 11, BTC cost reached 3 thousand dollars. But then his rate collapsed to 2.5 thousand due to the fact that industry experts called Bitcoin an unreliable asset.

July

As a result of rumors about the upcoming hardforka, the value of the coin has fallen by 1 thousand dollars. At the same time, the new blockchain protocol, Segregated Witness, was supported by almost 100% of miners of Bitcoin.

August

In early August, there was a bitcoin hardfork. After that, a new altcoin – Bitcoin Cash. Its creators became a group of participants of the blockchain, who were not satisfied with the conditions of the new protocol (Seitated Witness). Some miners spoke in favor of a sharp increase in the volume of the transaction block (up to 8 MB). At the same time, the version of the BIP 91 protocol proposed as part of the Segregated Witness update involves expanding the block to only 2 MB.

But this did not prevent Bitcoin from reaching a capitalization of 50 billion dollars. And then the cryptocurrency “broke through” the mark of 4 thousand green. At the end of August, the Segregated Witness update was officially launched.

September

In early September, the BTC almost reached the mark of 5 thousand dollars. But then, due to a ban by the Chinese authorities on holding an ICO, the course of Bitcoin fell. In the same month, the world’s first real estate purchase transaction for Bitcoins was recorded. It took place on September 19th in the state of Texas.

October

BTC is already 6 thousand dollars. Then, on the twentieth of November, another bitcoin division occurred. As a result, a new coin appeared – Bitcoin Gold. But one more hardfork did not affect the value of BTC.

November

In November, the Bitcoin exchange rate was constantly increasing. By the end of the month its price increased to 11 thousand dollars. And the volume of transactions per day on the blockchain exceeded 3 billion dollars.

December

In early December, in terms of working capital, Bitcoin almost caught up with the top five “fiat” leaders (dollar, yuan, euro, yen, rupi). By the middle of the month the rate of the coin reaches 20 thousand dollars. During December, the cost of Bitcoin fluctuated. At a minimum, it fell to $ 12 thousand. At the end of the month, due to rumors of a ban on cryptocurrency circulation in South Korea, the BTC rate fell to $ 13,000.

A positive factor that supported Bitcoin afloat in December was the information leaked to the Network about the upcoming appearance of BTC-based futures. The information was confirmed: on the 18th of the day, the CME GROUP (Chicago Options Exchange) launched this financial instrument for the first time in the world.

2018

January At the beginning of the new year, Bitcoin continued its decline. In early January, its value again fell by 4% to $ 13,400, and by the middle of the month fell below 12 thousand. According to experts, this is due to the tightening of control of the cryptocurrency market by the governments of many states. And above all China.

Then the whole year the first cryptocurrency was in correction. Pessimists have already buried Bitcoin thinking that this is the end.

2019

already this year the bitcoin rate will reach a maximum from December 2017

To be continued

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