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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 price is expressed in Euro, Dollar, Yen, etc.
Understanding Bitcoin’s price.
What is Bitcoin?
If you are interested in Bitcoin’s price, it is essential to understand the underlying technology. Bitcoin is the most well-known and widely used digital currency. It is the one that started the cryptocurrency revolution in 2009 and brought Blockchain technology to the forefront.
What makes the price go up and down?
Several factors influence the price of Bitcoin, both in the short and long term:
• In the short term, good or bad news from the market will tend to drive the price up or down: for example, the announcements of the COVID19 confinements in 2020 caused the price to fall by 50% in a few days. In the same way, 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 mainly the regulation and the massive adoption of digital assets by an increasing number of institutional players that influence prices. And we must finally keep in mind that the quantity of bitcoins generated is limited and halved every four years, reducing the supply and creating upward pressure on the price.
Why is volatility so strong?
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 opportunity, but also represents an increased risk.
The cryptocurrency market is not yet as large as the traditional stock markets: it has reached for the first time two trillion dollars in valuation in 2021.This may seem large, but when compared to the financial markets sector, it is only a drop in the ocean.
Therefore, relatively little capital is needed 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.
Our experts explain Bitcoin’s price.
Every week we provide you with a technical analysis of Bitcoin’s price. You will be able to find all the important areas to watch out for in order to optimize your investments in crypto-currencies.
All information in this video is provided for informational purposes only, although it has been compiled from reputable and reliable sources. It does not constitute an offer to buy or sell digital assets, nor does it constitute an offer to provide services with respect to digital assets, nor does it constitute advice or an inducement or recommendation to trade in such digital assets. It is simply information that is under the absolute control of the user.
Invest in Bitcoin in 2021.
Bitcoin, a rising asset since its launch.
The Bitcoin blockchain has been created around 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 software developer for 10,000 bitcoins. A transaction that today makes them the most expensive pizzas in history!
A quick look at the long-term price of Bitcoin is clear: this asset has been on an upward trend since its inception.
A Bitcoin was only worth a few dollars or euros when there were still only a few marketplaces offering it.
Bitcoin settles around 10 euros ($13) and begins a powerful bull run
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.
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.
New sharp drop of the whole market, the price of Bitcoin loses about 80% of its value to fall to 2800 euros (3200 dollars)
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.
After a rise in the value of bitcoin at the end of 2020, the price of Bitcoin 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 the value of Bitcoin in 2020 has seen an increase of over 300%.
From an investment perspective, there is every indication that blockchain and cryptocurrencies represent a major development 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 get informed beforehand.
Bitcoin alone has characteristics that make it a unique asset, first in terms of a store of value and probably tomorrow in terms of 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.
Understanding the recent evolution of Bitcoin’s price.
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