Rain Blog

News and updates from the leading cryptocurrency platform in the Middle East

Bitcoin (BTC) rose from $0.09 to more than $68,000 in 10 years; what if you invested $10 back then?

By MOHAMED SABER FARRAG - Apr 04, 5:00 AM

Bitcoin’s beginning (2010-2015)

Contrary to what would sound logical, Bitcoin did not start trading right after its Whitepaper was created in 2008. That honor goes to 2009, when BTC’s price was, unbelievably, practically zero. Holders had to wait until 2010 for the first major jump in valuation, when 1 BTC reached $0.09, its first reliably recorded price. However, what came after was the increase that truly showed Bitcoin’s potential. After hitting the $1 mark around April 2011, BTC continued to reach all the way to $29 only within two months. This is an almost 3,000% gain, which is most likely due to the aftermath of the 2008 housing crisis.

Unfortunately for holders, this remained the top for a while. BTC’s volatility showed its ugly side for the first time, and the price declined to a mere $2 by November. 2012 was actually not the most significant period in Bitcoin’s price history, but 2013 was all the more important. Bitcoin performed its greatest gain to-date then, going from $13 to $230 a piece in only four months. This spike was likely caused by a number of happenings, including the speculation around the ‘Cyprus banking bubble’, and a mysterious Reddit giveaway of around $13,000 in BTC coming from a user named ‘Bitcoinbillionaire’. However, what followed was anything but expected: BTC topped its all-time high by a hefty margin, and reached around $1,230 in December 2013. This meant that during that year alone, BTC recorded a close to 10,000% gain, which was truly unmatched by that time. <Too many “,”. We should be breaking the sentences>

When the world noticed Bitcoin (2015-2020)

After a relatively steady 2014 and 2015, Bitcoin introduced itself to the masses for the first time during its historical bull run, which saw its price going from around $1,000 to almost $20,000 from April to December 2017. The reasons behind this incredible performance are unclear, but some argue that the inception and new availability of Tether (USDT) played a key role in the increase, others say it was the interest in BTC demonstrated by large cap tech companies that propelled the valuation upward. In any case, Bitcoin failed to hold this level, and in a year’s time, it was only worth one fourth of its all-time high. Despite a bounceback in the first half of 2019, BTC’s price seemed to have settled around the $7,000 level by mid 2020. And then came the storm. Defying all odds, Bitcoin closed 2020 with an all-time high of almost $30,000, which smashed through the resistance at $20,000 instated by its first bullrun in 2017.

The golden era of Bitcoin (2021-present)

2021 began with a supreme price action, as BTC rose to an immense record of around $63,000 by April, which was close to unimaginable only a year back. This was actually an almost 1,000% year-over-year gain, which is impressive at such high market capitalization. The bullrun's underlying reasons were clearer than ever this time, as institutional investors not only showed interest in investing in Bitcoin, but also took action and locked in their part of the biggest cryptocurrency, which gave a feeling of safety to retail investors, and pushed prices in the positive direction.

After a correction in mid 2021, BTC’s price was revitalized once again, and this time, the upturn resulted in the current highest value of $68,789.63, recorded in early November 2021. 

Final thoughts

Bitcoin’s price history was anything but uneventful. The biggest cryptocurrency fought its way through good and bad, numerous highs and countless lows, trust and fear, as well as positive and negative investor sentiments. However, what did not change is the fundamentals that Bitcoin lies on, namely the idea of decentralization, trustless authority, and the concept of a global peer-to-peer network that operates free of any bias a centralized world imposes on users. With all that in mind, it’s safe to say that whatever the future brings for Bitcoin, its performance, and novel vision will go down in history as some of the most significant and unprecedented revolutions of modern mankind.

Rain is licensed by the Central Bank of Bahrain as a Category 3 Crypto-Asset Services Provider. We are headquartered in the Kingdom of Bahrain

Company

Learn

Careers

Social

Scan to download

iOS & Android

Downloads

Copyright 2022 Rain Management WLL