Bitcoin and Euro: Exchange Rate History from the Very Beginning
Almost 10 years ago, Bitcoin was introduced to the world. It got various reactions: some people did not take it seriously, others started investing. By now, it has become the most famous and expensive crypto coin. But what was it worth when it first appeared?
Short BTC history
It all started in 2008, when still unknown Satoshi Nakamoto created a domain and made a link to the coin’s paper public. A year later, in 2009, BTC was released as an open-source software. However, in 2009, BTC was not traded. Its trade and enlargement has started in 2010.
BTC in 2010
This year is a very known one in the BTC history, as the famous Bitcoin Pizza Day has originated at that time. Laszlo Hanyecz, the first buyer of a good with BTC, has paid 10.000 for two pizzas. At that time the spent amount was equal €31.
The coin was just starting its growth in 2011. The average price was €0.7, however, in summer, the price has risen to €23 and then was followed by the first drop to €1.5.
More companies were starting to accept BTC as a means of payment. The highest point in price was around €12, followed by decline to €5.8.
It was the first year when the price for one coin varied significantly. With the lowest point of €52, it was rising to €100 and dropping back to €70. By the end of the year, BTC started to grow quickly, and on January 1st, 2014, its value was already €560.
The year started with the cost growing more, with the maximum value of €647. However, the price did not stay at that point during the whole 2014 – by the end of the year, it has dropped to around €250 again.
This year was pretty much calm for all BTC investors – the price stayed at around same point of €250. The changes have only started in November, with the value growing again. This time, the coin has reached almost €400 in the end of December.
In 2016, BTC started to reach really high points. Being between €400 - €600 for the whole year, it has surprised everyone in December – the price was over €900.
This year is probably considered the craziest one in BTC history. It has started with the coin having a price around €1000. In summer, the cost of 1 BTC has already reached the point of more than €2000, and by the beginning of fall it has been more than €3000.
The end of the year has shocked all investors and economists. In November, the price of 1 BTC was more than €7000, and in December it has reached a point of €16.800!
BTC in 2018
Despite the great increase in price, BTC did not stay at its maximum point for a long time. At the start of 2018, the price of one BTC was equal €11.751. Then, it has started decreasing to €9000, then to €7000, finally with the price fluctuating between €5000-6000 in Spring.
On July 18, the price of BTC is €6330. There are a lot of different predictions currently being made about BTC’s future both crash and rise. However, most of the experts talk about the BTC’s price increase again.
One of the specialists who stayed anonymous has even predicted BTC having a price of $280.000 (around €240.000) by 2023. However, only future will show if it comes true.
Blockchain and crypto coins will be discussed by DLT experts at the Blockchain & Bitcoin Conference Philippines.