The whole world is going through a very difficult time during this pandemic, but there is still good news for Bitcoin investors. Bitcoin has been on a rapid rise since the middle of last year 2020.
But the graph is not so smooth. He also has some stockings too. Bitcoin had not only seen the highest price ever in November 2021, but it was also over $67,000. Prior to that, Bitcoin also hit the lowest peak on the chart with a price value of $4,000 in March 2020.
Just by looking at the rising and falling chart of the Bitcoin value price, we can tell how volatile Bitcoin is in nature. You cannot tell when the chart will be pointing down, and again the next moment it will start to rise.
All About Bitcoin
Bitcoin came on the market in 2009. Since then, this cryptocurrency has seen several rises and falls. The main thing we should consider is that Bitcoin still dominates the market. With Bitcoin we have a new industry, the crypto market.
Blockchain technology is another bitcoin offering. It is the first application to introduce Blockchain with us. After more than a decade, people still have a lot of confusion in their minds when it comes to starting to trade with Bitcoin.
But the scenario has changed in recent years. More and more investors and ordinary people are investing their money in Bitcoin. In addition to this, some big organizations are also showing their interest in bitcoin investing. So we can say that the future of Bitcoin is bright.
The rising price of Bitcoin
As we have mentioned many times, Bitcoin’s journey has not been smooth at all. It is full of turmoil and critical situations. In 2009, when bitcoin was first launched, it began its journey with a value of $0.0008 to $0.08 for each coin.
- It was 2011 June when Bitcoin experienced a sudden increase in value. In April 2011, the price value of Bitcoin was $1, and in June 2011, the price became $11. Again in November 2011, the price again fell to $2.
- In 2013, Bitcoin began its journey with a price of $13.40. At the beginning of April, the price saw a sudden increase and the price became $220. After that, a rapid decrease was observed.
- By December 2013, the price had peaked at $1,156.10. Still at the start of 2015Bitcoin price value was around $315.
- In 2017Bitcoin reached an all-time high of $20,089 at the end of 2017. That’s when people started to take bitcoin investments very seriously.
- During the global pandemic 2020we saw bitcoin drop to $3,000, but then another bubble happened, and it made another all-time high breaking through the $40,000 range.
- The year ended with an attractive Bitcoin price of around $30,000. Then 2021 started, and a whole new bitcoin journey has begun.
- By November 2021, Bitcoin hit its all-time high price of over $67,000. Experts also assume that by the end of 2021, the Bitcoin price value will reach $100,000. Let’s see what awaits Crypto enthusiasts.
Reason behind bitcoin scarcity
So far we have discussed bitcoin, the journey of bitcoin. All of this information is necessary to understand why the scarcity of Bitcoin takes place. Every bitcoin rise always tells a bitcoin holding story.
Whenever there is a shortage in the market, the price value increases. This rarity is not at all natural; it is done because the number of Bitcoin is limited to 21 million. One day, there will be no more Bitcoin. This day is not far away because more than 18.77 million Bitcoins have already been mined.
Has Bitcoin already become a rare financial asset of our time?
Yes, Bitcoin has already become a bit of a scarce financial asset, but this is a positive factor for Bitcoin investors. This very scarcity will help the value price of Bitcoin to rise and reach its maximum value again.