How much is one bitcoin worth in cash?Bitcoin price History
Oct 24th, 2022 at 14:02 Services Hosur 234 views Reference: 2842
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How much is one bitcoin worth in cash today?The price of bitcoin today is $18,747.30. The price of bitcoin has a wide range of fluctuations, up and down, so what is the historical price of bitcoin? Now let's take a look at the historical price of Bitcoin.
How much is one bitcoin worth in cash？
Bitcoin price
Bitcoin's price is known for being highly volatile, but despite this, it has become the best-performing asset in any category (including stocks, commodities and bonds) over the past decade -- climbing a staggering 9,000,000 percent between 2010 and 2020.
When the cryptocurrency launched in early 2009, 50 BTC entered circulation at $0.00 when Satoshi Nakamoto mined the Bitcoin Genesis block, the first block on the Bitcoin blockchain.
Each block continued to have 50 bitcoins in circulation (created every 10 minutes) until the first halving event occurred in November 2012 (see below). Halving refers to Bitcoin's issuance system, which Nakamoto programmed into Bitcoin's code. It essentially involves automatically halving the number of new BTC entering circulation per 210,000 blocks.
In February 2011, the price of BTC reached parity with the dollar for the first time. That milestone encouraged new investors to enter the market, and over the next four months, Bitcoin's price continued to rise - peaking above $30.
By early 2013, the leading cryptocurrency had recovered from a long bearish episode and risen above $1,000, albeit briefly. But following the infamous Mt Gox hack, China's announcement of its first ban on encryption and other circumstances, it took another four years for BTC prices to climb back above $1,000 again. Once above that level, however, Bitcoin's price continued to surge dramatically throughout 2017 until BTC reached its previous long-term all-time high of $19,850.
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In 2018, the entire cryptocurrency market was caught up in a year-long bear market now known as "cryptocurrency winter." It wasn't until December 2020, when Bitcoin retested its previous all-time high, that it finally surpassed that all-time level and rallied a further 239% to a new all-time high of $64,799 over the next 119 days.
