A Look at Bitcoin from 2013 to Today

The first active crypto, Bitcoin is undoubtedly considered the precursor of the cryptocurrency boom, and although it was once a topic that only some managed, today it is something shared by many millions of people around the world.

During the last 5 years the Bitcoin has had a tremendous growth, at the beginning of 2013 it had a value slightly higher than $100 dollars(USD), but already by the end of that same year it had experienced a huge rise and closed quoting $747 dollars per unit according to the price index of CoinMarketCap. Which means that only in 2013 Bitcoin had an increase of approximately 700%.

For 2014 things changed a bit, after reaching $700 by the end of 2013 and having reached  $900 the first few days of January, this time Bitcoin would be affected by regulations throughout the year that ended up hitting its value.

These measures included the prohibition of the use of Bitcoin by Russia and the impediment of China to allow financial institutions to trade with this or other active cryptos. Finally, in 2014 the value of Bitcoin closed at $312 per coin, which represents a decrease of more than 50% compared to 2013.

2015 could be considered a “stable” year in Bitcoin, as its value did not move much, starting January it had an approximate price of $312  and closed the period with a unit price of $426. This was basically due to the same regulatory measures that we mentioned but with the difference that very few companies decided to adopt Bitcoin as a form of payment, which allowed Bitcoin to close with a gain of approximately 40%.

2016 was a different year, there are even those who would classify it as the year that prepared Bitcoin to shine, because in that period the first active crypto rose more than 100%, with positive performance, starting January with a mark of $434  and ending December with a value of $961 per token.

By this time, Bitcoin was a topical issue, everyone was talking about it, the term “Bitcoin millionaire” had been heard a bit earlier and people wanted to know more and more to make the decision to invest or not.

In 2017 the matter evolves more, knowing already what happened in 2016, the topic of Bitcoin became massively popular. Many things happened that led Bitcoin to its best year.

For the beginning of this period, the first cryptocurrency was only $998 and ended at no less than $14,456  per token, having briefly passed its historic maximum of $20,000 in December.

Within everything that happened in 2017, there are two facts that figure much in this rebound of Bitcoin, one is the sale of futures with two major US firms.  UU and the other  being the forks.

Last year Bitcoin had two bifurcations, of which one plays a very important role since the original BTC skyrocketed a lot in the days leading up to the launch, this happened due to massive purchases, since when the network forked, people become the owners of two tokens, the first and the forked one that in this case would be Bitcoin Cash, as long as the software supports the wallet that it uses.

When the Bitcoin Cash chain branched off from the main chain, the owners of Bitcoin became owners of an equivalent amount of Bitcoin Cash. This is because the chains were identical until the bifurcation occurred. If he owned 10 BTC before the division, then he owned 10 BTC and 10 BCH after the division.

After the fork, BCH remained as an alternative for some users who refused to pay for the high transaction costs of the Bitcoin network, until the implementation of SegWit, another fork that consists in expanding the size of the nodes so that the operations they are cheaper and run in less time.

The fork of SegWit2x was responsible for many users returning to the Bitcoin network since it was a waste to send money in small quantities. At the time of writing, there are many wallets and exchanges that have implemented this fork in their Blockchains and that allowed the first active crypto to recover trading volume at the beginning of this 2018.

In this way, Bitcoin closed 2017 as its best year, with a margin of profit of more than 1000% and according to experts, it will continue to grow in 2018, although its performance so far has not been consistent with that of last year.

Below is the behaviour of BTC throughout 2017.

 


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