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Bitcoin prices: make your decisions in real time!

Bitcoin’s price is set by supply and demand on online platforms that connect buyers and sellers around the clock. Depending on the country where the various platforms are based, the quotes can be expressed in Euro, Dollar, Yen, etc.

Evolution of the Bitcoin price

The price of Bitcoin has been on a rollercoaster ride since its official launch in 2009. But why such volatility?

Bitcoin prices: the impacting factors

Several factors influence the price of Bitcoin, both in the short and long term:

  • In the short term, good or bad market news will tend to drive the price up or down: for example, announcements of COVID-19-related confinements in 2020 sent the price down 50% in a few days. Similarly, when the market goes up or down sharply, there is often a knock-on effect, with all investors following the movement and accentuating it based on technical analysis.
  • In the long term, it is above all the regulation and massive adoption of digital assets by an increasing number of institutional players that influence prices. And finally, it is important to keep in mind that the amount of Bitcoins generated is limited and halved every four years, which reduces supply and creates upward price pressure.

Bitcoin’s price is much more volatile than traditional assets. It is not uncommon to see fluctuations of more than 10% in a single day, which makes it attractive as an investment vehicle, but also represents increased risk.

The cryptocurrency market is not yet as large as the traditional stock markets: it first reached $1 trillion in valuation in 2021. This may seem like a big deal, but in the financial markets sector, it’s just a drop in the bucket.

Therefore, it takes relatively little capital to be able to significantly influence cryptocurrency prices: the market is still in a maturation phase. A gradual increase in capitalization with the arrival of new players, especially institutional ones, will make the market less prone to violent excesses of volatility.

Bitcoin: evolution and highlights

In the history of Bitcoin, certainly the best-known cryptocurrency in the world, there are a few key dates and events to remember in order to better understand the intrinsic characteristics of this virtual currency.

The Bitcoin price started to be really valued as early as 2011, about 2 years after its creation. As an anecdote, on the various historical charts, the Bitcoin price can be expressed in yuan (Chinese currency) or in yen (Japanese currency), as Asians are indeed important consumers of crypto-currencies in general, and Bitcoin in particular. However, the majority of prices today are quoted in dollars or euros for greater readability.

In 2012, the price of Bitcoin was only a few euros, and it was really from 2013 onwards that its price soared, reaching the symbolic 1,000 euro mark (for 1 Bitcoin) in 2014. More and more businesses and companies from all walks of life are accepting Bitcoin as a payment method in its own right. Until now, Bitcoin had to be sold on dedicated exchange platforms to obtain a bank transfer in the currency of the country where the beneficiary’s account was domiciled. While this is not a hindrance, this trend mostly shows the growing legitimacy of cryptocurrencies globally, the figurehead of which was and still is Bitcoin.

In 2017, the upward trend of Bitcoin reached a new significant milestone: 1 Bitcoin was then worth 17,000 euros. This consecration is mainly due to the fundraising in cryptocurrencies and the craze of the various media, both specialized and generalist, for this new digital value. The revolution in the world of finance, already well underway, is reaching significant heights here, revealing new models and benchmarks never seen before. At the end of 2017, new financial products arrive on the Bitcoin and cryptocurrency market, like futures contracts. Speculation is in full swing. On the flip side, it is now possible to speculate against these cryptocurrencies.

2018 marked the sharp fall of the Bitcoin price, which then fell to 2,800 euros. However, it is all the crypto-currencies that experience a spectacular fall that year. However, this decline is to be put into perspective. Although Bitcoin has actually lost almost 80% of its value compared to its peak, it is still 2.5 times higher than the value it had acquired a year earlier. And by the beginning of 2020, the Bitcoin price will be back up to 6,000 euros.

In 2020, investors and global finance professionals are looking for alternatives to diversify their investments. Moreover, even though the Bitcoin price has experienced significant declines, it has also gained credibility and reputation. There are many features that protect this crypto-currency, whose use in everyday life has become considerably more democratic. Far from being abandoned, business is picking up again for Bitcoin, which in 2021 will reach its highest level to date: 50,000 euros.

Bitcoin price: history

Bitcoin, an asset with an upward trend since its launch

The Bitcoin blockchain has been around since 2009, but globally, the first Bitcoin exchanges on marketplaces date back to 2010. Back then, a Bitcoin was only worth a few cents! One exchange that remains well-known in the cryptocurrency ecosystem is that of the two pizzas bought in May 2010 by a computer developer for 10,000 Bitcoins. A transaction that today makes them the most expensive pizzas in history!

So Bitcoin does not have a linear growth. And that’s also part of its appeal: when the price drops, investors buy Bitcoin with the expectation that it will rise exponentially. Of course, this is not an exact science. Right now, experts are seeing a more than encouraging outlook for Bitcoin and its value. However, it is important to remain cautious and adopt the right strategy to limit the risk of loss. Just like the traditional stock markets.

A quick look at the long-term price of Bitcoin is clear: the asset has been on an upward trend since its inception.

2009

Date of launch of Bitcoin, created by the enigmatic Satoshi Nakamoto. Bitcoin was then in its infancy. However, a first estimate of its theoretical value had been made. At the time, its value was $0.001. Its value was calculated on the basis of the electricity consumed by a computer to create one unit of Bitcoin.

2011

A milestone in the history of the Bitcoin price. For the first time since its inception, 1 Bitcoin = 1 dollar, and then, in the same breath, 1 Bitcoin will reach the value of 1 euro. This parity with the world’s leading currencies establishes Bitcoin as a currency that is beginning to make its debut in the marketplaces.

2012

A Bitcoin was only worth a few dollars or euros when there were still only a few marketplaces offering it.

2013

Bitcoin settles around 10 euros ($13) and begins a powerful bullish wave.

2014

Bitcoin’s price rose above 1,000 euros ($1150) for the first time. The first interest in Bitcoin outside the purely “geek” sphere appeared. The first and most daring businesses began to accept payments in Bitcoin, and the financial world watched this new asset with a cautious but watchful eye.

2017

Le concept des ICOs (des levées de fonds en cryptomonnaies) , porté principalement par Ethereum recrée énormément d’intérêt pour le marché des cryptomonnaies. Un nouveau marché haussier se met en place, les médias s’emparent de ces nouvelles technologies et l’ensemble s’emballe pour finir par un fort excès en fin d’année. Le prix du bitcoin atteint alors 17 000 euros, soit près de 20 000 dollars.

2018

The concept of ICOs (crypto-currency fundraising), mainly driven by Ethereum, has created a lot of interest in the crypto-currency market. A new bull market was created, the media took hold of these new technologies and the whole thing went into overdrive, ending in a strong excess at the end of the year. The price of bitcoin reached 17,000 euros, or nearly 20,000 dollars.

2020

The year 2020 was the year when professionals entered this market en masse, with pension funds and hedge funds in particular taking significant positions. The economic situation has forced these players to look for alternatives to traditional investments, and the cryptocurrency market has really benefited from their arrival.

2021

After a rise in the value of bitcoin at the end of 2020, the price of Bitcoin has reached a new all-time high above 50,000 euros ($60,000).

Is it too late to buy Bitcoin?

The first bitcoin exchange platforms emerged in 2010. Since then, the growth of the market has caused an increase of more than a million percent, making it the most profitable asset of the decade, regardless of the investment category. This growth is slowing down as time goes on, but continues to this day, as Bitcoin’s value in 2020 has seen an increase of over 300%.

From an investment perspective, all indications to date are that Blockchain and cryptocurrencies represent a major evolution in the digital and financial sectors. The value of Bitcoin should therefore continue to appreciate over the long term. Nevertheless, it is important to note that investing in these assets is risky and it is necessary to be informed beforehand.

Bitcoin alone has characteristics that make it a unique asset, first as a store of value and probably tomorrow as a much larger scale currency. Issues of decentralization and security of exchanges are at the heart of many debates. The best thing to do is to keep up to date with the major news in the ecosystem so as not to miss any major developments that may herald future increases in the price of crypto-currencies.

Furthermore, there is no official value for Bitcoin, just as there is for all the (many) crypto-currencies available on the market. However, it is possible to estimate its price, based simply on the law of supply and demand, and determine how much a Bitcoin is worth. The indicator then taken into account is calculated according to the transactions made on the cryptocurrency exchange platforms worldwide. And given the fluctuations in the Bitcoin price, the question of buying this crypto asset too late should not be asked in these terms. Indeed, like any digital currency, the price is extremely volatile, both up and down, which also participates in the craze generated by this universe. And like any investment, because that’s what it is, it is necessary to develop a strategy to optimize its acquisitions. Hence the importance of following the Bitcoin euro price to buy at the right time. It is not too late to buy Bitcoin, but it is necessary to be on the lookout and make a careful analysis beforehand. Our cryptocurrency experts can help you develop a relevant acquisition strategy if needed.

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