One of the main reasons why bitcoins is one of the most popular cryptocurrency in the world is the rate at which its value increases. Even though there have been a few instances when the price of one bitcoin dropped, the trend shows that it is headed in the right direction.
The first fact that you need to know is that bitcoin was not traded on any exchange platform online and offline in 2009. As a result, the first price was recorded in 2010 as the currency started to gain traction. Therefore, it is true to say that the price of one bitcoin in 2009 was $0.
Surprisingly, the price of one bitcoin in 2010 did not hit $1. The highest price that was recorded in this year was only $0.39. Since then, the price of bitcoin has steadily increased due to market forces such as supply and demand. At the moment, the price of one bitcoin is $7,693.
The price of a bitcoin is measured or compared to fiat currency such as BTCUSD, Euro, and Chinese Yuan. Most of the online exchange platforms have embraced bitcoins and allow traders to trade it just like the other currencies. It is also important to note that that there is no official price of a bitcoin as the averages are calculated based on price feeds from the various global exchanges. However, two of the main platforms that you can use to get a rough estimate are CoinDesk and Bitcoin Average.
Another point to note is that bitcoin was developed with the approach of rarity gold. The supply in the market was set at 21 million coins and it is estimated that more than 50% of the coins have already been produced and are currently being distributed in the market. One of the first investors, Satoshi Nakomoto, is rumored to have more than one million bitcoins.