Comparison of the value of Bitcoin in 2019 as against its 2009 value- Cryptogavel Analysis
Bitcoin value is simple the worth of bitcoin in terms of local currency, expecially the US dollar value. Bitcoin which is the most valuable and recognized cryptocurrency worldwide was invented in 2009 by a pseudonymous Satoshi Nakamoto .
Initially Satoshi Nakamoto never intended to invent a currency. His idea was to create a medium of payment (peer to peer platform). At the time of invention, Bitcoin has little or no value in terms of US Dollar value. one Bitcoin as at January 2009 to March 2010, valueless. Then there was a little value increase in March 2010 when bitcoin was sold at $0.003. This was the beginning of bitcoin price. Then after, in May 2009, the price rose to $0.01. Then subsequently in July 2010, a bitcoin was sold at $0.08. This was when bitcoin started gaining real and tangible value.
In October 2010, bitcoin was sold at $0.125 per bitcoin.
February 2011 to April 2011, Bitcoin assumes the value of US Dollar by selling at $1.00 dollars per bitcoin.
Then in June 2011, the price skyrocketed to $31.00 . This was a juicy and joyful season for bitcoin owners. In April 2013, Bitcoin was sold at $266. Then between May and June, 2013, the price dropped to $130 and $100 respectively.
From June 2013 to November 2013, there were slight increases in the bitcoin price, thus before November 2013, Bitcoin was sold at $350 and then in November 2013, the price rose from $350 to $1, 342. At this time, bitcoin has become golden.
In 1st September, 2017, the prce of Bitcoin rose to $5000 for the first time.This rise was followed by a drop in value to $2900 and subsequently a rise to $5600 in 13th October, 2017.
In 21st October, 2017, bitcoin price increased to $6,180 and then subsequently, it rose to $7,600 and $8,100.
Shockingly, on the 15th of December, 2017, the price of Bitcoin rose to $17,900 and $19,783 in December . This is followed by gradual drop in price. Today , 9th December, 2019, Bitcoin is sold at $7,494.35 (United States Dollar).
The price of bitcoin is practically unpredictable. More likely to rise in value but also possible to decrease in value. This is same with other cryptocurrencies like Ethereum, Ripples, Litecoin, etc.
It is expected that Bitcoin price will rise double the present value between now nad January 2020 considering the level of its acceptability, recognition and legalization by many countries. It should also be noted that countries like France and Venezuela have developed their own digital currencies.