In early 2009, an anonymous person or group of people under the name Satoshi Nakamoto created a new form of money called Bitcoin. Unlike government-issued currency, Bitcoin is not regulated by any central authority and can be sent directly from person to person without the need for a bank or other financial institution.
Bitcoin is also unique in that there is a limited supply of 21 million Bitcoins that will ever be created. This set supply combined with increasing demand as more and more people begin to use Bitcoin has resulted in the price of Bitcoin rising over the years.
When Bitcoin first launched in 2009, each Bitcoin was worth less than a penny. In 2010, the price of Bitcoin began to increase as more people started to learn about and use it. By 2011, the price of one Bitcoin had risen to around $30. This price increase was due to a number of factors including the collapse of Mt.
Gox, one of the earliest and most popular cryptocurrency exchanges. Mt. Gox was responsible for handling around 70% of all Bitcoin transactions at its peak and its collapse led to a loss of confidence in Bitcoin which caused the price to drop back down to around $2 by the end of 2011.
The price of Bitcoin began to increase again in 2013 and by early 2014 was back up to around $1000 per Bitcoin. This surge in price was due largely to increased media attention and investment from China as Chinese investors looked for ways to protect their wealth from inflation.
The Chinese government then cracked down on cryptocurrency exchanges causing the price of Bitcoin to drop back down below $1000 by mid-2014.
Since then, the price of Bitcoin has seen UPS and downs but has generally trended upwards as more and more people have become aware of and invested in cryptocurrency. As we head into 2020, the price of one Bitcoin is currently around $8000. So, what will the price of Bitcoin be in 2030?
It is impossible to say for certain what the price of Bitcoin will be in 2030 as it is highly dependent on a number of factors including global economic conditions, innovation within the cryptocurrency space, and governmental regulation. However, given the current trendline, it is reasonable to expect that the price of one Bitcoin could be anywhere from $20,000 to $100,000 or even higher by 2030. So whatever happens over the next decade, it is sure to be an exciting ride for those invested in Bitcoin!.