The price of bitcoin was last at/over $6,000 USD exchange rate value 176 days ago
- The BTC value had a low of $3,239 on December 19, 2018, up $2,812 USD Since
Bitcoin’s price is $6,057.79 BTC/USD exchange rate today. The real-time BTC market cap of $107.16 Billion currently ranks #1 with a chart dominance at 56.81%, daily trading volume of $4.32 Billion and live coin value change of BTC 4.43 in the last 24 hours.
For the first time in nearly six months, the Bitcoin’s exchange rate value in USD has surpassed the $6,000 mark. While the bear market has essentially been in effect since December 16, 2017 when BTC was $19,891 USD. While the all time high in market cap for the cryptocurrency leader is still over 78% down from its peak of $835 billion on January 7, 2018, most remain optimistic about where blockchain-based crypto assets are headed.
Let’s take a second to recap some of the earliest days within the bitcoin ecosystem and see how it has evolved and proven itself to be a worthy cause in the fight for the future of global finance.
Major Bitcoin Price Milestones: Trip Down Memory Lane
By 2010, Mt. Gox was selling Bitcoin for a price point of around $0.07. And within a span of around 7-8 months, the premier altcoin was able to reach a price parity with the US Dollar. Let’s cover some of the other events influencing bitcoin’s price, but the entire historical timeline and performance track record of the bitcoin price history can be found here.
(i) The Silk Road Welcomes Bitcoin
According to certain media outlets, by June 2011 Bitcoin was being freely accepted by merchants operating on ‘the Silk Road’ — a popular underground trading website that is known for its amazing anonymity protocols. However, as many of y’all might already know, most of the people operating on this website make use of it primarily to buy their drugs (or indulge in other nefarious activities).
(ii) Cyprus Banking Crisis
After more and more people became aware of the fact that Bitcoin was fast becoming the singular currency of the ‘The Silk Road’, the price of the asset started to scale up in an extremely quick manner. In this regard, many experts claim that the financial crisis to hit Cyprus at the start of the decade was also responsible in spurring the interest of more investors towards this burgeoning financial domain.
For example, at the time of the aforementioned issue, the premier alt-asset had risen to a price point of over $100, with the momentum then carrying forward and even taking the currency to above the $1k mark within a space of just 10-12 months.
(iii) BTC Struggles as Governments Starting Banning the Currency
After the Mt. Gox scandal hit the market back in 2014, many governments across the globe (such as China, the United States) started to take extreme measures so as to curb the growth of this burgeoning sector. These bans were mirrored by other prosperous countries such as India, France, the UK — thereby leading to a sharp dip in the usability of this asset class.
(iv) The Bull Run of 2017
One of the most insane surges to have been witnessed by the global finance arena over the past century was the rise of digital assets such as Bitcoin, Ethereum, Litecoin etc a couple of years back. To put things into perspective, during a period of just 8-12 months, all of the top-10 crypto assets (by overall market cap) in the market at the time were able to surge exponentially — with the price of ETH and BTC rising to as high $1.4k and $20k respectively.
As a result of this amazing market push, many new investors were drawn to the crypto sector — thereby creating a bubble which eventually popped by the end of January (2018).
In closing out this piece, we should point out that the bear market of 2018 saw this promising sector come back down to mother earth — with most premier assets losing around 80% of their value within a span of 10-14 months. However, over the course of the past few weeks, BTC has once again been showing signs of an upward financial push— with the asset rising from a price point of just over $3k to about $5.5k (at press time).
It now remains to be seen what the future has in store for this ever-evolving domain. Now, let’s shift gears out of $BTC price summary mode and start deep diving into bitcoin’s ten year history and all of its USD exchange rate value changes, cause and effects timeline. Be sure to visit our bitcoin price news center today.
- Source: First Appeared Here
- Published Time: 2019-05-09 04:04:58
The views and opinions expressed in the article Bitcoin Price Crosses $6,000 BTC/USD Threshold for First Time Since November 13, 2018, 176 Days Ago do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research..
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