Bitcoin Price

What is Bitcoin?

Bitcoin is the first example of a cryptocurrency with references to Hashcash from A.Back, b-money from W. Dai, and Public-key cryptosystems from R.C. Merkle among others. It is an asset class that has combined traditional currency with verification based on cryptography, first introduced as an electronic payment system based on mathematical proof.

Bitcoin is a peer-to-peer version of electronic cash used for payments sent directly from one party to another without going through a financial institution. The most widespread definition describes bitcoin as the world´s first decentralized digital currency limited to a supply of 21M and with no trusted third party. Meaning that no single person, organization, or authority has control over it. Anyone can buy it, anyone can receive it.

Bitcoin was invented by a person or a group of people under the pseudonym Satoshi Nakamoto and it was announced publicly on in November 2008. On January 3rd, 2009, the first block was mined, labeled as the Genesis Block with the embedded text, "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks".

We know bitcoin as the coin, which is a code representing ownership over coins, an IOU if you like, and Bitcoin as the protocol, a distributed network maintaining a ledger of balances of the previously mentioned bitcoin coins.

Who invented Bitcoin?

The question of who invented bitcoin remains an issue of much debate and controversy. The standard answer is that bitcoin was created by “Satoshi Nakamoto.” Satoshi Nakamoto was the name that appeared on the 2008 paper which launched bitcoin: ‘Bitcoin: A Peer-to-Peer Electronic Cash System’.

But, unfortunately, that doesn’t answer the question. That Japanese-sounding name was just a placeholder the original creators of the currency used to hide their true identities. We still don’t know who they are.

What’s incredible is just how much the creators of bitcoin are worth. At the peak of the currency in December 2017 when prices briefly surged to almost $20,000 per coin, the creator (either an individual or a group) had a net worth of more than $19 billion, making him or her the 44th richest person (or people) at the time.

For the first six years of bitcoin’s existence, nobody had any credible information on who Satoshi Nakamoto was. All we had to go on was gossip and rumor, but there weren’t any verifiable facts.

Then in 2016, Australian investor and technologist Craig Wright created a stir by claiming that he was the inventor of the currency and that he set it up as a way for people to transact across borders without having to go through the international banking system. Wright backed up his claim by showing others in the crypto community what he claimed was the first bitcoin transaction: ten bitcoins sent to his friend Hal Finney in January 2009.

Why would Bitcoin’s creator suddenly want to come forward and reveal himself?

The news took the story and ran with it, with some outlets claiming that the mystery had finally been solved. But, as with many things, it wasn’t quite that simple. Though some people in the community believed Wright’s story and accepted the evidence at face value, others were more skeptical and looked for holes in the evidence. Why would bitcoin’s creator suddenly want to come forward and reveal himself?

Wright initially claimed that the reason he had revealed himself was that he wanted the community to be able to see the work he was doing for Bitcoin behind the scenes. In an open letter to holders of bitcoin, Wright said that he had been trying to distance himself from the Satoshi Nakamoto moniker for a while and that he was willing to play a more prominent role in the development and future of bitcoin.

Unfortunately, since that reveal, Wright hasn’t had much time to work on his currency. He’s been embroiled in a series of court battles, both as a defendant and plaintiff. Things got ugly for Wright at last year’s cryptocurrency conference in Seoul when Vitalik Buterin, of the creators of rival currency Ether, said that Wright was a fraud and he could prove it.

Craig Wright versus Vitalik Buterin

Wright was, understandably, not happy with the claim, especially from such a senior person in the crypto community, and decided to hit back, serving Buterin with notice that he was going to take him to court for defamation.

Wright was also the defendant in a lawsuit involving former business partner and now deceased Dave Kleiman, who claimed before his death in April 2013 that Wright had stolen money from him.

If Wright is indeed the founder of bitcoin and has a wallet with more than a million units, he shouldn’t have any problem financing his court battles. What’s more, court proceedings may reveal that Wright was the first person to transact bitcoins and even that he was the one who penned the original article on how the currency would work.

If Wright is not the inventor of bitcoin, he’ll go down as one of the greatest villains of the modern era, at least in the eyes of those who oppose defamation laws and the hijacking of the Satoshi Nakamoto persona. The real inventor of bitcoin, in the eyes of many, couldn’t possibly be a man who uses the power of the state to crush his enemies. The whole purpose of the bitcoin project was, in their view, to undermine the stranglehold of government on the economy and give regular people a real shot at genuine economic freedom. Bitcoin was a gift that would finally allow the average person to escape the nightmare of fiat currency.

Many high-profile and trusted people have opened come out to say that they know who the inventor of bitcoin is and that it’s not Craig Wright - John McAfee, for example. And interestingly, John McAfee has a lot of money and isn’t afraid of being sued.

Bitcoin Calculator

Kriptomat’s Bitcoin price calculator tool allows you to convert easily between Bitcoin and preferred fiat currencies (USD or EUR). This simple converter uses actual exchange rates based on Kriptomat’s Bitcoin last price.

What is BTC?

The bitcoin symbol is ₿ and its ticker price is BTC (XBT). The bitcoin unit of account is bitcoin and the denomination is one hundred of a millionth (0.00000001) with the smallest unit called a satoshi (sat). Other alternative units for smaller amounts are millibitcoin (mBTC) for 0.001 bitcoin or 100,000 satoshis. The maximum bitcoin supply is 21M, controlled by the Bitcoin algorithm.

How much is 1 Bitcoin?

The bitcoin currency runs on the Bitcoin network, operating on the Bitcoin protocol, called the blockchain. The blockchain is a shared public ledger with records of bitcoin transactions that the Bitcoin network relies on. The blockchain is built as a chain of blocks that contain transactions and is maintained by a network of communicating nodes running bitcoin software. Nodes are carrying out a set of rules to verify transactions on the network. Verification occurs through the process called mining, those nodes are called executing or mining nodes. The nodes are involved to make sure that all participants on the Bitcoin network have a consistent view of the data. There are four types of nodes on the Bitcoin blockchain: full nodes, super nodes, light nodes, and before mentioned mining nodes.

Anyone can be a Bitcoin user by downloading its open-source software. Users on the network are identified by Bitcoin addresses, which appear as random strings of numbers and letters. These addresses are pseudo-anonymous, so Bitcoin can be used anonymously to some extent.

Bitcoin Wallets

Bitcoin is stored on a Bitcoin address (Public Key) generated from a Private Key (Seed). The Private Key is strings of numbers and letters associated with the address. The owner of the Private Key is the owner of the coins stored on the Bitcoin addresses. Storing Bitcoin means storing private keys.

Private Keys can be stored in different ways. They can be stored on a USB drive, on a computer (full node), or on more common devices such as hardware wallets (Ledger, Trezor). These are physical devices that encrypt keys needed to spend bitcoin. A common practice is that these devices stay offline and are harder to hack. More convenient, but less secure, is storing bitcoin in a software wallet, a piece of software that you download and run on your computer or mobile device. And a remnant from the first days of bitcoin is a paper wallet, that is printed on a piece of paper that has a private key, a Bitcoin address, and a QR code representing both. They are the most difficult to set up properly and in a safe manner.

Bitcoin can be also stored on an exchange, but this is not recommended either. Bitcoins stored on an exchange are stored on an exchange's wallet to which the user has no private key. Exchanges are normally at high risk of hacks and therefore it is not advisable to leave any large amount of bitcoins on an exchange.

How to choose the best Bitcoin Wallet?

Choosing the right wallet to use for Bitcoin depends on your technical skills and your needs. The most important function of a Bitcoin wallet is to secure the digital assets it contains. Bitcoin wallet does not really store the coins; rather, it saves your private key. A wallet is a program, a software that stores your unique private key, the tool that allows you to prove ownership of the coins. The best Bitcoin wallet is the one that has your private key stored securely and is best applicable to your everyday use or holding style.

Not your private key, not your coins.

Bitcoin wallets come in different designs. Primarily they are separated into hot and cold wallets. The basic distinction is that hot wallets are connected to the internet and cold wallets are external devices kept offline; the main difference is the manner in which the private key is stored. A hot wallet is the best fit if you need to access your bitcoins regularly, while a cold wallet is great for storing cryptocurrency assets safely. Best practices show you should have them both, using a hot wallet for smaller amounts and frequent transactions and cold storage designated for bigger volumes. The concept is similar to having a card you use daily and savings account for rainy days.

Hot and cold wallets can be broken down further. Cold wallets are meant to be secure and more of a storage tool. That is why they exist in paper form, with a private key and public address printed out on a sheet of paper, or as a hardware wallet, an external device like Trezor, Ledger Nano S, etc. Paper wallets are considered less safe and less practical for everyday use. They are great for storing if you print them out safely. The most-used option for a cold wallet today is a hardware wallet; these can be used frequently or for storing only, secured with passwords and pins that have to be physically entered on a device. Hot wallets, on the other hand, are built to be used often. They are the most common and as they are continuously online, they are at greater risk to malicious attackers.

Storing Bitcoin on a hot wallet is risky

Hot wallets are all desktop wallets, mobile wallets, and web (online) wallets. Desktop and mobile wallets get downloaded and your private key gets stored on the device where you downloaded it. Desktop wallets should be handled securely and are available for Linux, macOS, or Windows, and mobile wallets are available for Android and iOS. Meanwhile, web wallets are responsible for the majority of online exchanges. The most well-known desktop wallets are Bitcoin Core, Electrum, Wasabi, etc. and they differ in the amount of technical skill they require and by operating type: Full Node or SPV (lite client). Some of the desktop wallets also offer a mobile equivalent but this does not mean they are the same. Some examples of mobile wallets are Electrum, Mycelium, Copay, BRD, Jaxx, etc.

The purpose of your wallet is a personal interface to the Bitcoin network (so you can carry out tasks like sending and receiving Bitcoins). It is important to differentiate between wallets where you have complete control over your assets (non-custodial wallets) and wallets where a private key is stored with a third party (custodial wallets).

Always do your best to maintain a high level of security for your cryptocurrencies!

There is no unique answer to what is the best Bitcoin wallet. The details we’ve provided above are technically great, but each has its own advantages and disadvantages. You certainly cannot go wrong with a hardware wallet, but it might not be the most convenient, so you should consider a good hot wallet too. Hold multiple wallets, one hot and at least one cold. The best Bitcoin wallet depends on you and your purpose in using Bitcoins. The criteria on which you base your decision should be security and accessibility and bear in mind to always choose a wallet where you are in control of your private keys. Below is a list of questions and answers to guide you in your decision.

How often do you move your coins? If you are doing it daily, a hot wallet is exactly for this purpose, but if you have some cryptocurrency assets sitting on the side (holding), mix using your hot wallet with a cold wallet.

Will you be using your wallet only for Bitcoin? Not all wallets are multiple cryptocurrency wallets. For example, hardware wallets are designed to store multiple private keys while a paper wallet for Bitcoin is meant only for Bitcoin.

How tech-savvy are you? Some of the wallets require higher technical skills. Desktop wallets are normally more secure than mobile but less secure than hardware wallets. Hot wallets are more vulnerable than cold, as they are online and therefore at higher risk of phishing, DDOS, malware, and server breaches.

How much will it cost? The majority of hot wallets are free and hardware wallets should be bought from the manufacturer directly. The unwritten rule is: If you have more than your monthly average wage in Bitcoin, buy a hardware wallet.

Before you start using a Bitcoin wallet be sure to read about what Bitcoin is and how it works to ensure you have the appropriate amount of knowledge on how to securely exchange your acquired assets. Make sure you take all the right steps to secure your wallet and the funds in it. Never forget that it is your responsibility. Choose your wallet carefully and use good practices to protect your cryptocurrency assets.

What is a Bitcoin transaction?

A bitcoin transaction is a transfer of value between Bitcoin wallets and is included in the blockchain. For example: if Alice sends Bob a bitcoin, she sends bitcoin from her Bitcoin wallet that generates a Bitcoin address, also known as the public key, from her private key (seed). The nodes on the network that see her intention and validate first that she really has this bitcoin and, second, that she has not yet sent it to someone else. Alice proves that the bitcoin is hers by signing it with her private key. After the transaction is validated, it gets included in a “block” with other transactions.

The first to get a bitcoin was cypherpunk Hal Finney, who had created the reusable proof-of-work system (RPoW) in 2004. The first transaction amount was 50 bitcoins and those were sent by Satoshi. This transaction occurred on Jan. 12, 2009, and was included in block 170.

The first known commercial transaction was confirmed in 2010 and contained 10,000 bitcoins for two pizzas. This transaction occurred in block 57043, on May 22, 2010, by Laszlo Hanyecz.

How does Bitcoin Work? Protocols and Architecture

Bitcoin can be used anywhere where the internet is. The Bitcoin network is decentralized and maintained by a network of users by consensus of the network’s members with no central authority enforcing rules. A group of volunteer coders takes care of development and an open network of nodes runs it. A node is a computer running Bitcoin software that keeps Bitcoin users apprised of information. Anyone can run a node that will transmit bitcoin transactions around the network. Some nodes are mining nodes. Miners provide a service for the network by confirming transactions that users send each other. Miners combine transactions on the network into blocks. Every new block refers to the previous block. More blocks form a blockchain.

What is Bitcoin mining?

Mining is a system of confirming pending transactions in a block, employing a distributed consensus method to maintain an honest network. The method consists of a set of cryptographic rules to secure the blockchain and prevent double-spend transactions to sustain from an alteration of previous blocks. Miners are agents who protect the neutrality of the network and present agreement among different nodes on the state of the system by chronologically ordering transactions in the Bitcoin blockchain.

Mining is a process where miners use energy to maintain the network and for doing so, receive payment. Their incentive to include transactions into blocks by converting electricity is newly minted bitcoins and miners fee - component of every bitcoin transaction. Their payment, the new bitcoins reward is perceived as one additional transaction contained in every confirmed block. The reward is distributed on average every 10 minutes along every confirmed block and is best understood as a lottery.

A randomly chosen miner who burned energy will receive the reward for the mathematical computation task, also known as a hashing function. This hash function prevents the prediction of output and is done by random guessing. In this task, the goal is to find a nonce that will produce a "hash". The "hash" is a combination of the nonce linked with the block data and passed through a hash function. A product is a hash string with an integer including a pre-determined number of zeroes at the beginning. The difficulty of such mathematical calculations is adjusted for every computational challenge, that is a 10-minute block confirmation. The difficulty is expressed in hash rate and works as a measuring unit for the processing power of Bitcoin.

The bitcoin reward for work is also a mechanism for new bitcoins coming into circulation. This reward for miners' performance is deliberately decreasing with a process called halving and will exist until all 21M bitcoins are circulating. The block reward already underwent four halvings and went from 50 coins to 25, to 12.5, and currently 6.25 bitcoins per block.

How to mine Bitcoin?

Due to the random nature of mining, individual miners can combine hash power and mine as one big miner in Pool mining. This guarantees that they will find blocks more regularly and make earnings from mining rewards more constant.

Anyone can become a miner, but mining requires computational resources and electricity. Money is a representation of the work required to have goods and services produced and can be viewed as stored energy. Bitcoin is a commodity minted from energy by using Proof-of-Work (POW). PoW transmutes electricity into digital assets and, thus, bitcoin is mined.

What is Proof-of-Work?

Proof-of-Work (PoW) mining is a consensus system where dedicated machines for block reward convert electricity into bitcoin. The machines are application-specific integrated circuits (ASICs) constantly performing hash operations until a cryptographic puzzle is solved to prove with the solution that energy was spent. For such work, miners in return receive block rewards (bitcoins). PoW becomes especially important when it comes to the Bitcoin Ledger. The blockchain can be immutable only if it is costly to do so. That is why PoW features a high cost and the Bitcoin Ledger is secured by its collective hashing power, the sum of all energy expended. PoW was designed to change political votes to apolitical votes (hashes) via the conversion of energy.

The Bitcoin block size limit is a parameter in the Bitcoin protocol that limits the size of Bitcoin blocks. This is a limit of how many transactions can be included in one block that happens about every 10 minutes. Block size used to be 1 megabyte, or dependent on the size of a transaction, on average, three to seven transactions per second. In 2017, the block size limit was replaced by a block weight limit of four million weight units, changing the way data in blocks was being counted. Now, Bitcoin blocks have a theoretical maximum size of four megabytes but, more realistically, two megabytes.

Are there any Bitcoin upgrades?

Bitcoin has gone through improvements since its first launch. The Bitcoin Improvement Protocol (BIP) was introduced by Amir Taaki in 2011 to make Bitcoin development more structured and accountable. BIP is a standard for proposing changes to the Bitcoin protocol, either as soft or hard fork protocol upgrades or other changes.

There are different Bitcoin Forks, a codebase fork, that is a copy of the code and normally results in a whole new cryptocurrency, a blockchain fork, which brings two versions of the transaction history. Or a hard fork, a protocol upgrade that loosens or removes rules and a soft fork, a protocol upgrade that tightens or adds rules. Sometimes forks are not easily distinguishable and even experts cannot agree.

Bitcoin's most known protocol upgrade from August 2017 is SegWit, Segregated Witness, which eliminates transaction malleability. SegWit was intended to support the Lightning network to improve scalability.

Bech32 is a SegWit address format determined by BIP 0173, known as “bc1 addresses”. Bech32 addresses are a friendly environment for small transactions alongside having improved functions in the domain of error detection. They have a human-readable part and use “bc” for accessing the mainnet, while “tb” is used for testnet.

Legacy Bitcoin addresses (also the original BTC addresses):

  • e.g. 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
  • e.g. 3J98t1WpEZ73CNmQviecrnyiWrnqRhWNLy

The Lightning network is layer two of the bitcoin protocol proposed in 2015 by Joseph Poon and Thaddeus Drya. It was designed as an overlay of a payment channel for fast and cheap transactions that don’t slow down the mainnet. Lightning payments are not recorded on the Bitcoin blockchain directly but through channel-funding and channel-closing transactions. In practice, this means Lightning transactions are settled with fewer on-chain Bitcoin transactions.

The most famous bitcoin hack is the Mt.Gox hack, which happened in 2014, when the bitcoin exchange from Tokyo, Japan was handling about 70 percent of all bitcoin transactions worldwide. The settlements with bitcoin traders are still ongoing.

Major Bitcoin Forks

The forking of cryptocurrency, also known as a crypto hard fork, or just fork, is a process of upgrading a blockchain network to a new version that usually comes with a new set of rules for the network, as well as for the network participants.

Hard fork usually results in generating an entirely new network with different rules, also minting a new cryptocurrency based on the changed rules of the network. Forks work by making radical changes to the existing protocol of a blockchain network, granting access to the new chain only to those network users who agree to accept the changes.

Why Do Crypto Forks Happen?

Forks will often result in changes without having a newly minted crypto joining the market; however, many forks still result in the introduction of a new coin at the end of the process. This is the case with numerous Bitcoin forks as well. In these case scenarios, changes made through forks are created permanently, functioning to change the way the network nodes are working, changing valid transactions to invalid along the way as long as these transactions are being made on the old version of the blockchain network.


Many blockchain networks and development teams behind cryptocurrency projects residing on open-source networks have agreed to make changes in the form of forks in order to increase security, repair bugs, or switch to more cost-effective and efficient protocols; however, some forks are due to creating new crypto projects that are intended to represent improved versions of the chain being forked.

That is how we've ended up with some major Bitcoin forks competing against the top crypto with promises to offer an improved version of the Bitcoin network, making transactions faster, fees lower, and the network protocols more energy-efficient.

There are over 100 different Bitcoin fork projects, of which 70 percent are considered to be active; however, only some Bitcoin forks can be considered major.

Litecoin (LTC)

Litecoin is definitely one of the top cryptocurrencies in the market despite previously having some major downfalls when it comes to the market price. It also represents the first fork of Bitcoin. Known as “Bitcoin’s little brother” and the “silver” to Bitcoin’s “gold”, Litecoin has also earned an individual identity as one of the top cryptos, with Charlie Lee at the head of the development team.

The former Google employee had a plan to utilize the Bitcoin blockchain as a base for creating a newly minted coin that would be built on the same philosophy as the top crypto, only with faster completion of transactions, lower transaction fees, and more energy-efficient mining.

By changing the algorithms of the Bitcoin blockchain and creating a new set of rules, Litecoin created a block time of 2.5 minutes, as opposed to Bitcoin’s 10 minutes, making LTC transactions faster and more cost-effective than the original rules of the network.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) arrived as another Bitcoin fork, but it came years after the first Bitcoin fork of Charlie Lee’s Litecoin (LTC). In 2017, Bitcoin Cash appeared as a new prominent fork built on the changed rules of the Bitcoin network. While the Litecoin project had a goal to make transactions faster when compared to Bitcoin transactions, the Bitcoin Cash development team wanted to increase the number of transactions being made within a given timeframe.

Bitcoin Cash was set to improve scalability issues that still represent a burning issue for many blockchain networks, which is why BCH developers decided to change the block size in order to enable greater traffic on the network without having issues with network cluster and downtime. By increasing the number of transactions and keeping up a constant speed of transactions, Bitcoin Cash soon became one of the major Bitcoin forks even though security concerns were raised about the cost of increasing the number of transactions.

Bitcoin Gold (BTG)

While the Litecoin project aimed to create faster transactions and Bitcoin Cash had a goal to increase the number of transactions within a given timeframe, Bitcoin Gold (BTG) developers wanted to restore the original vision of the Bitcoin network in terms of making Bitcoin mining less competitive.

With Bitcoin, mining became contingent on which miner has stronger and more efficient mining equipment, giving AISC miners and major mining companies a monopoly on the process, as opposed to the original vision of Bitcoin, in which anyone could join and participate in the mining and validation process and get rewarded in exchange for validating transactions on the chain.

Bitcoin Gold thus operates as one of the major Bitcoin forks; however, the crypto has a changed algorithm based on the original Bitcoin chain that allows miners to mine the currency from their own computers, thus removing the monopoly held by ASIC miners over Bitcoin mining and promoting decentralization.

Bitcoin SV (BSV)

Although Bitcoin SV (BSV) wasn’t directly generated as a Bitcoin fork, the crypto still runs on the original algorithm of the Bitcoin blockchain. Derived from Bitcoin Cash (BCH) and representing a split coin as a result of splitting from the Bitcoin Cash network, Bitcoin SV (Satoshi Vision) is perhaps one of the most controversial forks in the history of Bitcoin-related forking. It's led by Craig Wright, who is also known as “Fake Satoshi”.

Trying to prove he was the man behind Bitcoin working under the alias of “Satoshi Nakamoto”, Craig Wright wasn’t able to convince anyone he was the inventor of the first and top cryptocurrency.

However, with the appearance of Bitcoin SV and the splitting of the Bitcoin Cash network, the development team headed by Wright has one goal: to restore the initial values of the Bitcoin blockchain through a newly minted crypto known as BSV. The goal of the project is to keep the original protocol of the Bitcoin network while working on improving scalability.

Despite the fact that Bitcoin has over 100 different forks, of which the majority represent active projects, the original cryptocurrency still holds the record in the number of active wallets, transactions, price, and market cap. The future is sure to see many more of these forks to come.

Bitcoin price history

The price of bitcoin is based on international online exchanges, and it is constantly changing. Since the beginning of 2009, the price of bitcoin has been influenced by numerous unique events and not necessarily financially or trader induced. For example, the shutdown of cryptocurrency exchange Mt. Gox in 2014 and the crypto winter of 2018 that followed bitcoin’s all-time high price of $19,783 in December 2017 both affected the price of Bitcoin.

All About Bitcoin’s Price

Bitcoin is traded 24/7, so the price fluctuates accordingly. Take a look at the price for one bitcoin now and then check it again when you’re done reading this post to see the difference.


Here are the major events that have influenced the price of bitcoin and learn about bitcoin’s price history.


  • On January 3, 2009, the first block of Bitcoin was mined, and the value of one bitcoin was close to zero.
  • At the time, there was no real market for bitcoins yet, and the majority of bitcoin users were cryptography enthusiasts and cypherpunks.
  • The first receiver of a bitcoin transaction (block #170) was Hal Finney.


  • Bitcoin gained some value in the year 2010 with the launch of the first bitcoin exchange,, and the first bitcoin arm’s length transaction; 10,000 BTC were accepted for two pizzas (1 BTC equaled $0.0025).
  • May 22, 2010, is now known as Bitcoin Pizza Day.
  • The number of bitcoin users increased significantly, and the price of bitcoin jumped 900% from $0.008 in five days. This signified the first real price increase.
  • A bug in the Bitcoin code led to a “dirty” transaction in block #74,638. 184 billion BTC were generated in one transaction.


  • In 2011, the Bitcoin price reached parity with the USD dollar.
  • Other cryptocurrencies started to emerge.
  • More people got involved, Bitcoin exchanges started to open around the world, the number of transactions and transfers increased, pool mining commenced, and the first Bitcoin conference happened in Europe, resulting in the first Bitcoin bubble.
  • The highest fee was paid for a block: 171 BTC for block #15,7235.
  • The year 2011 closed with the price for one bitcoin at $2.


  • 2012 marked the biggest block in the chain, #181,919 with 1,322 transactions, and the block reward halved for the first time. From now on, miners received 25 BTC for a successfully validated block.


  • In April 2013, the Bitcoin price rallied, with a daily increase of 5-10%. The year indicates that Bitcoin has a volatile nature. The Bitcoin price oscillates throughout the whole year.
  • The price of bitcoin surpassed three digits for the first time in November 2013 when several major events supported confidence in Bitcoin’s viability as a currency. These events were the closure of Silk Road, the first congressional hearing about Bitcoin, the rising popularity of Bitcoin in China, and Bitcoin becoming accepted by merchants as a payment method.
  • Willy the bot, an automated trading tool on Mt. Gox was suspected of causing the drastic price movements of bitcoin at the time.


  • In 2014, the price of bitcoin spiked for a short time. Shortly after, it was influenced by the crash of the biggest exchange, Mt. Gox, bisecting the price for one bitcoin.
  • Bitcoin’s price saw a downtrend throughout the whole year.


  • At the beginning of 2015, the downtrend in the price of bitcoin stalled and started to turn.
  • Bitcoin companies began to raise funds for their new blockchain projects.
  • The Unicode Committee added the Bitcoin currency symbol, ₿, to the Unicode standard, and the price of bitcoin slowly started to increase again.


  • Interest in Bitcoin was on another rise, this time also in academic research.
  • The Bitcoin network speed exceeded 1 exahash/sec, and the number of Bitcoin ATMs around the globe doubled.
  • Bitcoin underwent the second halving. Now, miners received 12.5 BTC for a successfully validated block.
  • Wright announced that he was the creator of Bitcoin.


  • Exchange trading volumes increased, and the price of bitcoin broke $1,000 after three years.
  • 2017 is the year when Bitcoin attracted lawmakers and traditional financial institutions.
  • In March 2017, the number of GitHub projects related to Bitcoin increased, and the bitcoin price surpassed its previous all-time high.
  • The bitcoin exchange rate approached new highs.
  • Initial coin offerings (ICO) were on the rise.
  • The Bitcoin fork (Bitcoin Cash hard fork) occurred, and the price of Bitcoin hit another all-time high.
  • The price of bitcoin doubled after the fork, and bitcoin futures were announced.
  • The price of bitcoin rose 5% in one day, a 1,824% increase since January 1, 2017. The price for one bitcoin reached a record high.


  • On January 13, 2018, the amount of mined BTC reached 16.8 million, leaving only 2% of the maximum supply of 21 million to be mined.
  • The price of bitcoin dropped by 50% in three weeks.
  • Bitcoin experienced the longest bear market, and the price for one Bitcoin on December 31, 2018, was at a 15-month low.



  • 2019 marks the year when bitcoin market capitalization reached $165 billion
  • The price of bitcoin began rising again.


  • With the block reward expected to halve in May 2020, the price of bitcoin was unstable and started the year at $7,160. Bitcoin value surges to its best January performance.
  • On May 8, 2020, just before the halving, the bitcoin price surpassed $10,000
  • Starting on May 11, 2020, miners received only 6.25 BTC for a successfully validated block

As of the date of this writing, there are 18 million BTC in circulation, and a top-ten most asked questions about bitcoin is, “what is bitcoin’s value?” Some people believe it is worth zero, and others claim that bitcoin’s value comes from the fact it can be transferred across borders in ten minutes and the underlying freedom bitcoin brings. The bitcoin price going from $0.00 to a record high of $19,166.00 shows that many people saw potential use cases for the first-ever decentralized digital currency, and the value rose according to interest from people, traditional financial institutions, and governments. The highly volatile nature of the digital asset is a favorable circumstance for traders and speculators.

What BTC Price to Expect?

Always exchange only the amount that you are willing to lose. It is hard to forecast the price for one bitcoin, but with technical analysis, estimates can be drawn. Someone who draws great conclusions can earn a lot of money, but generally speaking, a prediction in the short term is pure speculation. However, many experts are optimistic about the price of bitcoin in the long run. If we take a look at bitcoin’s ROI, we can quickly conclude that its rise in value over the past five years is over 4,000%.

Bitcoin (BTC) Favorite Asked Questions

Who created Bitcoin?

Bitcoin created an individual or a group under the pseudonym, Satoshi Nakamoto. The identity remains hidden to this day.

Is Bitcoin real money?

Bitcoin is a digital asset that can be traded or exchanged for traditional currencies like EUR, USD, GBP, etc.

How old is Bitcoin?

The First Bitcoin block was mined on 03. January 2009. Otherwise, the idea of digital money is from 1982.

How to buy bitcoin?

Start with buying satoshis and eventually you will own a whole bitcoin. All you need is a bitcoin wallet and your preferred payment method. Buy bitcoin with a credit card, a wire transfer, or exchange other cryptocurrencies.

Where to buy bitcoin?

You can buy bitcoin in various ways. The most convenient is the use of a credit card or a wire transfer directly to an exchange.

What are Bitcoin halvings?

Bitcoin halving is a predetermined process that occurs every 4th year and halves the number of newly mined bitcoins that come into circulation with every new bitcoin block.

What is Bitcoin used for?

Bitcoin can be used for many different purposes, yet its killer app is money.

Can Bitcoin be converted to cash?

Bitcoin can be exchanged for cash OTC or at a local crypto ATM.

Is Bitcoin legal?

Depending on your residency, generally speaking, bitcoin is legal in most of the world.

How to read the Bitcoin price chart?

Price charts can be displayed in different time frames, where 15-minutes, 1-hour, 4-hour, and 1-day charts are the most popular. The most commonly used is the Japanese candlestick chart, with red or green color candlesticks, according to the price movement. Each candle’s body shows the closing and opening price, and their shadows, the lowest and the highest price. The candlestick graph helps determine bullish or bearish patterns.

What is the Bitcoin price today?

The price of Bitcoin changes continually, please find the current Bitcoin price at the market displayed at the top of the page.

What does the Bitcoin exchange rate mean?

Bitcoin exchange rate is the value of one Bitcoin for conversion to another currency.

Can I buy $100 worth of Bitcoin?

Yes, you can make an order as small as 0.001 BTC or as big as 1 BTC. Bitcoin is a currency that can be denominated to eight decimal places. The smallest unit of Bitcoin is a Satoshi. 1 Satoshi equals 0.00000001 BTC.

How to get started with Bitcoin (how to invest in Bitcoin)?

Easy: register, deposit funds and buy. You can store it on Kriptomat or in your wallet.

The first step to buying Bitcoin is an account on a cryptocurrency exchange.

  1. Create a free account on
  2. Deposit cryptocurrency to exchange it or buy your first Bitcoin with a credit card.
  3. Keep it on your exchange account for trading or withdraw it to your hardware wallet. Bitcoins are stored at your designated Bitcoin address.

How much is Bitcoin worth?

Depends on the market….but you can always buy for the amount you like… How much Bitcoin is worth is always expressed in another currency (usually dollars, euros, pounds GBP, yen, or yuan), and it depends on the market you watch. You can always buy the amount of Bitcoin you want.

Can I buy Bitcoin Stock?

Bitcoin is a cryptocurrency. Everyone can buy Bitcoin. All you need is a free account and funds to exchange for Bitcoin. Be aware that digital assets are highly volatile and involve speculative risk.

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