Bitcoin first became public in 2009, when it was introduced as a new type of digital money. Back then, Bitcoin was worth very little—just a few cents or even less. Over the years, its value has changed a lot growing into a major financial asset. In this article, we will look at how the Bitcoin price has evolved from its humble beginnings in 2009 to the present day in 2024.
What was the value of Bitcoin in 2009?
When Bitcoin was introduced in 2009, it was worth almost nothing. There was no official price for Bitcoin at the time because it was new and not widely used.
One of the first recorded retail Bitcoin transactions happened in May 2010, when someone paid 10,000 BTC for two pizzas, valuing Bitcoin at around $0.01 per coin. Today, the day is remembered as Bitcoin Pizza Day Source: investopedia.com. So in 2009, Bitcoin was mostly a theoretical concept without a market price, but it laid the groundwork for the future rise in its value.
Bitcoin price history 2009 to 2024
This information is sourced from Investing.com and Bankrate.com. It reflects thorough research; however, you are encouraged to conduct their own research and seek professional advice to make informed decisions.
2009 – 2013: From creation to early growth
What was Bitcoin’s price in its early years? When Bitcoin was first created in January 2009, it was worth almost nothing because there were no exchanges to buy or sell it.
How did Bitcoin’s price change during these years? In 2010, Bitcoin was worth less than $0.40. By early 2011, the price briefly reached $1, and by June 2011, it climbed to nearly $30 before falling back to around $4.70 by the end of 2011. In 2012, Bitcoin’s price grew slowly, ending the year at $13.50. In 2013, Bitcoin’s price surged from $20 in January to over $1,200 by December, as more people started to take notice.
2013 – 2017: Mainstream attention and rapid Growth
How did Bitcoin’s price evolve from 2013 to 2017? After its big rise in 2013, Bitcoin’s price continued to grow in 2014, though it was very volatile. It dropped to around $318 by the end of 2014 but started to climb again in 2015, finishing the year at $430.
What were the major events from 2016 to 2017? In 2016, Bitcoin’s price increased from around $500 to over $1,000. The big story of 2017 was its dramatic rise from $1,000 in January to nearly $20,000 in December. This increase was fueled by greater media coverage, more interest from investors and the launch of Bitcoin futures trading.
2018 – 2020: Declines and recovery
What happened to Bitcoin’s price from 2018 to 2020? After the high of $20,000 at the end of 2017, Bitcoin’s price fell throughout 2018, ending the year at $3,709. In 2019, the price fluctuated but ended just under $7,200.
How did Bitcoin perform in 2020? In early 2020, Bitcoin’s price rose, reaching $28,949 by the end of the year. This growth was driven by market optimism, the effects of the COVID-19 pandemic, and increasing interest from institutional investors.
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2021 – 2023: New highs and volatility
What was Bitcoin’s price trend from 2021 to 2023? At the beginning of 2021, Bitcoin’s price soared to over $64,000 by April. However, by May, it started to fall due to regulatory crackdowns in China and other factors, dropping to below $20,000 by mid-2022.
What happened later? Bitcoin’s price rebounded in 2023, reaching about $27,000 by September and climbing to over $42,000 by October, driven by positive market sentiment and the potential approval of Bitcoin ETFs.
2024: The Era of Bitcoin ETFs
What is Bitcoin’s price like in early 2024? In January 2024, Bitcoin ETFs were launched, including famous ones like BlackRock Bitcoin ETF (IBIT), boosting its price to a new all-time high of over $73,000 in March. Bitcoin halving also happened in April 2024 with the next halving expected in the year 2028. As of July 14, 2024, Bitcoin’s price is around $60,000, reflecting ongoing strong interest and investment.
Steps to start trading Bitcoin CFDs online
Why Trade Bitcoin CFDs? Contract for Difference (CFD) trading allows you to speculate on the price movements of Bitcoin without actually owning the cryptocurrency. You could profit from both rising and falling markets, and CFDs often offer leverage, which means you can control a larger position with a smaller amount of capital. However, trading CFDs comes with risks, including potential losses that could exceed your initial investment due to leverage, as well as market volatility and the need for careful risk management.
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Why Choose Skilling for Bitcoin CFD Trading? Skilling is a regulated and award-winning CFD broker known for its user-friendly trading platforms, including MT4 and cTrader, competitive fees, and advanced trading and charting tools. Here’s how you can get started with Bitcoin CFD trading on Skilling:
- Open a free Skilling trading account.
- Fund your trading account. Skilling offers several deposit methods, including bank transfers, credit/debit cards, and e-wallets.
- On Skilling’s trading platform, search for Bitcoin. You can view Bitcoin’s live price chart and decide whether you want to buy (go long) or sell (go short).
- Open and manage your position. Open your chosen Bitcoin CFD trade by specifying the trade size and setting parameters like stop-loss and take-profit levels.
- Close your trade. When you decide to end your Bitcoin CFD trade, you close the position on the Skilling platform. Your profits or losses will be calculated based on the difference between the opening and closing prices.
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