What was the starting price of Bitcoin? - page 2.

NUFCrichard

legendary

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Quote from: erikalui on March 14, 2015, 11:58:00 AM

When I started trading in Bitcoins, the rate was above $300 but through some discussions on this forum, I noticed the price had crossed $1000. When was it and on what factors does this price depend on? Does it work the same way the stock market and forex operate? Also, what was the highest price bitcoin ever attained and the lowest price as well?

Currently the price is $287 and am waiting it to again reach atleast $300.

The all time high question isn't as simple as you would imagine. The Mt Gox all time high was $1242, but at the same time it was about $1153 on Stamp. Gox was higher than all the others for a long time as no one could withdraw from there so Gox coins could only be bought and not sold!

Hopefully it will be worth debating some time soon, but I would say Gox prices should be forgotten and the ATH is $1153

stonerider

full member

Activity: 224

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Like anything valuable in the world, bitcoin started its young life at $0.00 in late 2009. It rose all the way to $1200 in late 2013, and then crashed all through 2014, and here we are sitting now at $283.

Wandererfromthenorth

hero member

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The lowest price bitcoin was sitting at on an online exchange at the very beginning was around $0.06, with a flash low of $0.01.

erikalui

legendary

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Quote from: thejaytiesto on March 14, 2015, 01:01:04 PM

The price is simply derived by supply and demand. At the very beginning, Bitcoins were worth literally nothing. Thats right, nothing. Why you ask, well, no one was buying them, so the only owners were miners, and Bitcoin didn't simply have any value.
Only later on with the first exchanges made between users a price was starting to take shape, then with the first actual exchange the price started to take it's course until what we have today.

OK so basically the bitcoin price started increasing after people became aware of it. So I was right in saying it works the same way as the stock market with respect to the demand and supply.

I wonder why did the price fall from $1000 to $200 - $300. Was it because the demand was high or was it adopted by a brand/company which made the price reach that amount?

thejaytiesto

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Quote from: erikalui on March 14, 2015, 11:58:00 AM

When I started trading in Bitcoins, the rate was above $300 but through some discussions on this forum, I noticed the price had crossed $1000. When was it and on what factors does this price depend on? Does it work the same way the stock market and forex operate? Also, what was the highest price bitcoin ever attained and the lowest price as well?

Currently the price is $287 and am waiting it to again reach atleast $300.

The price is simply derived by supply and demand. At the very beginning, Bitcoins were worth literally nothing. Thats right, nothing. Why you ask, well, no one was buying them, so the only owners were miners, and Bitcoin didn't simply have any value.
Only later on with the first exchanges made between users a price was starting to take shape, then with the first actual exchange the price started to take it's course until what we have today.

erikalui

legendary

Activity: 2632

Merit: 1094

When I started trading in Bitcoins, the rate was above $300 but through some discussions on this forum, I noticed the price had crossed $1000. When was it and on what factors does this price depend on? Does it work the same way the stock market and forex operate? Also, what was the highest price bitcoin ever attained and the lowest price as well?

Currently the price is $287 and am waiting it to again reach atleast $300.

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