Topic: How did Bitcoin go from $0.10 to $10,000 ?? - page 2. (Read 401 times)

Bitcoin started at zero in 2009. I think the first trade was 12 bitcoin for a sum total of $0.09 (9 cents!) It spent a lot of time around $1 and two years later spent a few months at $35. I think most of 2015-2016 was around $250. It's really only 2017 where it jumped to $20,000 then down a bit to $7,800 (price now). I'd say the rise from $240 upwards has been speculation. If it goes like other assets it should stabilise somewhere around a few hundrd dollars or maybe $1,000 or so. If speculation continues to drive the price then it will stay quite a bit higher for quite a bit longer but it probably isn't supported by much more than speculation.

Just on the technology of the block that represents bitcoin, there are high hopes and that's why bitcoin has grown so much.

Well 2009 is not just a recent year not like 1980 and below. The price is quite interesting from low land price now at the peak at all time price. However bitcoin price run from 0.10- 7k for the record of that's how bitcoin manage the land of business. New comers is interesting specially with relations to gadgets. Nowadays almost everyone have an access to internet if I am not mistaken 88 percent in the world own gadgets or with technology. The rapid grow of bitcoin price is all about everyone sees, everyone is able to connect with.

Law of demand and supply, Bitcoin made mainstream that's why lots of people jump in and saw the future of bitcoin and potential growth, early believers were lucky enough to got hold of cheap Bitcoin.

Be sure that such a change of life was not easy.Until this change happens, people are risking many things.Surely those people have begun to take their labor compensation.

We can't tell the problem from the price alone. We need to know how many times the encrypted community has developed over the last nine years, and how many times the power of bitcoin has been raised. Now we know how many times the number of bitcoin people has increased compared with the number of people who knew bitcoins nine years ago.

it is still a mystery for me too. I think it is because when 2009, peoples didn't want to use bitcoin.
as time passed by, peoples start to realize that bitcoin is a new digital currency that has advantages over common fiat.

Bitcoin was not become $0.10 to $7000+ by chance. It is not became in one day. Bitcoin faced many situation for achieve this. The main point is that different from traditional currency. While the flow of a traditional currency is tracked by banks and controlled by governments, the circulation of digital currencies is decentralized, a key factor that drives expectations for the spread of bitcoin to new markets and transaction types.. Even though traditional currencies now exist primarily on digital ledgers of banks like bitcoins, the ledger for bitcoins has no separate owner or regulator. Instead, bitcoin is maintained and updated by bitcoin users on the basis of the bitcoin protocol. Since the bitcoin network is not controlled by a single institution, it has several advantages over government-controlled currencies. Those advantages are Limited circulation,Low-cost, open access and Quick, simple account management. Also, Technical and system Upgrades are cause to increase the price.

From Complete Bitcoin Price History Chart + Related Events (2009 - 2018) : https://99bitcoins.com/price-chart-history/

Hence Personally, I am not wonder about this price Because bitcoin worthy for this.

Thank you for attention
Have a Nice Day!

Every people try to make anything that will make people's life easier even for now.
And nobody know the exact result what will happen because people just able to try and let the GOD decide

When bitcoin being created, nobody expect bitcoin able reach $ 7000 or $ 15.000 for some time , it means that people in this digital era require something digital for transaction purpose

As years go by, Bitcoin had been demanded by some so of course market would also increase based on the demands of the coin. That’s why it slowly went up over the years, and people are beginning to notice and acknowledge bitcoin too so the more it increases even more.

50 $ I think it will happen in the year 2020-2022 look at it will be fast every day bitcoin getting popular discussed everywhere all over the world this is amazing 

more people use bitcoin so the bigger it demands get. it is more convenient to use bitcoin compared to banks. sending bitcoin will take minutes to hours compared to banks that will takes 2-4 days before you receive your money and they are close during weekend and holiday.

you should try to figure it out by reading the history of bitcoin. there are many references that you can get, maybe more complete on search engine google. I think this is how great his bitcoin can last for a decade more. even the future of bitcoin is still long.

HYIP players are among the Bitcoin buyers and sellers.

That is totally wrong, when Bitcoin is just starting or released it has no value at all. It just started to gain value when people began to trade Bitcoin for other things like assets, food, etc.. (even illegal things), How did Bitcoin go up so high? It is because people saw that it can be a good store of value and at the same time it can give them huge profit than any other markets because of its volatility, until the demand started to rise and more and more people are getting involved with it and whales started to enter too, this is why Bitcoin gained a lot of value from nothing.

Anything in the world got value by its demand,when bitcoin was launched it has no value and it has gained value when people started to buying and holding it.When the years passed more and more people keep buying and started to hold it which increases the more demand and resulted in the price growth.Whenever there is drop in the demand the price will also drop.

This is simple,
 
When price was low then, people this is "may be" illegal but day by day people believed on BTC, and then BTC follow their own business technique,
and they tried to increase their trustness on invester.
And they increased their other all facility, and also advertised all overthe world.
When people saw this value was increased gradually and then fastly then people invested here more and more the reason why it's price was increasing fastly.......
That's my view.
What do you think? help me pls share your opinion.

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If demand grows, so supply grows too, and consequently the price becoming higher and higher.
The same situation had other cryptocurrencies: ETH for example.

The primary factor helping Bitcoin go high in value is due to the high demand against low supply. Plus the fact that Bitcoin is the first among the many was helping push its value to stratosphere. The current market situation is just temporary as part of the growing pains by Bitcoin...eventually this is bound to surge ahead and claim its supremacy as compared to fiat currencies. Do you have that kind of faith for Bitcoin?

In early November 2013, bitcoin first climbed to a mark of $ 300. And the ability to change this closure of the Silkroad exchange. True, the rise was preceded by a fall. First, traders negatively perceived the news of closed exchanges, but after they realized that the crash of the criminal marketplace (it may not be associated bitcoin with the underworld.

On November 17, 2013, the rate was $ 500. Bitcoin has been growing steadily not only on the news of Silkroad. In October, the Chinese Internet giant Baidu began reception in bitcoins. This news also significantly increased interest in the crypto currency.

November 27, 2013 bitcoin for the first time reached the milestone of 1000 dollars. This was affected by the constant discussion of bitcoin in the media in connection with the scandal with Silkroad. The government of several countries, in particular Canada, China, Germany and the Netherlands, directly or indirectly supported bitcoin, and large companies like Metro said they were ready to accept bitcoins for payment.

But $ 1,000 bitcoin did not last long, by January 2014 bitcoin fell to $ 600 and in the next three years there were no breakthroughs in the history of the crypto currency. But the year 2017 was truly triumphal for bitcoins.

On January 1, 2017, the cost of bitcoin again exceeded $ 1,000. At the same time, the market capitalization of crypto-currencies for the first time in history surpassed the threshold of $ 16 billion. Analysts linked the rise in price to a number of factors: the growing interest of professional investors, improvement of fundamental market indicators, and the understanding that the world's largest economies are becoming increasingly unstable.

May 21, 2017 course bitcoin exceeded the mark of $ 2,100, at the maximum. After in April Japan recognized bitcoin as the official payment standard. Against the background of this news, investors rushed to exchange the yen for crypto currency. And the Chinese authorities began to soften the policy regarding the regulation of the crypto-currency.

August 7, 2017, the bitcoin rate rose above $ 3,000, reaching another record. This happened in connection with the hard-core in the network bitcoin, as a result of which bitcoin cache was formed. In addition, the world has had a boom ICO.

September 1, 2017 bitcoin crossed the mark of $ 5,000. Analysts explained a new record of technological improvements and a growing interest in investing in the crypto currency.

November 17, 2017 bitcoin has already overcome the mark of $ 8,000, and after a serious fall. The canopy for growth was the cancellation of the SegWit2X. Together with the hack to the growth of the biton, probably influenced by political events. Bloomberg publishes a note on the popularity of bitcoin in countries with an unstable economy.

On November 28, 2017, bitcoin costs $ 10,000. To raise prices in the first place told the news that CME in December launched a trade in futures for bitcoin. In addition, bitcoin sharply became interested in Chinese investors.