Bitcoin’s history of existence

Bitcoin was created in 2008 by a mysterious person that goes by Satoshi Nakamoto

Bitcoin continues to break barriers in the financial industry. This cryptocurrency has managed to make all regular payment methods look obsolete due to the numerous advantages that it has over them. It is far more secure, provides instant online transactions, users void all fees, and most importantly – they can make a profit.

As the network of this cryptocurrency rises and Bitcoin rises in value, we wanted to take a look at its history and explain how it managed to reach the popularity of today. Without any further ado, let’s start from the beginning.

Creation and expansion

Bitcoin was created in 2008 by a mysterious person that goes by Satoshi Nakamoto. This is the person's nickname and we still do not know whether Satoshi is male or female age or what is his/her nationality. The first transaction was completed in 2009 after Satoshi sold 10 Bitcoins to Hal Finney.

In its first years of existence, Bitcoin was primarily used on the black market like Silk Road. Its popularity was steadily rising and many people around the world became familiar with this cryptocurrency and the advantages that it brings.

The first halving event took place in late-summer of 2012. Exactly one and a half year after the halving event ended, Bitcoin peaked in price. Its value in January 2014 was at $713, the highest in its history. But, after authorities in the USA conducted several raids and seized many Bitcoins, its value plunged and spent the whole of 2015 and most of 2016 trying to stabilize itself.

Record in 2017

The halving event in mid-2016 set Bitcoin on the right path. Around this period, even trading sites that helped traders sell their Bitcoins and make a profit started gaining popularity. One of the sites that remains popular to this day is Immediate Bitcoin.

The reason why everyone wants to invest in Immediate Bitcoin even today is that this trading site uses advanced AI systems that analyze the market and collect all the data about Bitcoin. The data is processed and used to make an accurate prediction about its future fluctuations. Bitcoin is a highly volatile cryptocurrency and its value changes each day. This intel is very valuable to traders as it lets them know when to sell their assets and maximize their profits.

After the halving event ended, Bitcoin started rising in value. 2017 was a very productive year throughout and Bitcoin culminated on December 27 after its value peak at over $19,000. But, the market was overflown and this type of surge has never happened before, which is why the network fell under the pressure and Bitcoin plunged soon after reaching the peak.

2020 historical achievement and current state

After the plunge, Bitcoin spent the next year and a half trying to return to its former glory. Its stability was again achieved at the beginning of 2020. At the start of the year, several indicators led experts to believe that Bitcoin can peak again. Not only that, but it will most likely break the 2017 record in value.

After the third halving event took place in May 2020, Bitcoin’s value started to rise at a very stable rate. In mid-December, it finally broke the 2017 record in value as it topped $20,000.

While many thought that Bitcoin will plunge once again, the network learned from its mistakes and prevented that from happening. Not only that, but Bitcoin continued to rise in the following months. After Tesla invested $1.5 billion in Bitcoin in February, the cryptocurrency managed to break the $50,000 barrier for the first time in its existence.

That is the current state of Bitcoin. As of March 2021, Bitcoin’s price is at over $50,000 and this cryptocurrency is as valuable as gold.