We all know that bitcoins are a cryptocurrency which price is based on supply and demand, this means the price is changing constantly, even in the same day, thus, it’s only logical to think that there is some kind of record where these prices are saved for future reference.

Bellow, we will talk about those prices and why they were like that in their respective point of time

The beginnings

Is hard to say when it all started, some say that as early as 2007, Satoshi Nakamoto was working on the project. But it wasn’t until 2009 where the bitcoin as we know came to life, and the first “official” price was set in October of that years, 1 US dollar was equivalent to 1309 Bitcoins… it is very different than the current price isn’t it?

Bitcoin started to get used

In May 2010, the first real world transaction of bitcoin was made, a whopping amount of 10.000 bitcoins was spent on a pizza, and that same year, news sites drove more people into the world of bitcoin, heavily increasing its value.

At the beginning of 2011, the bitcoin reached a value equivalent to 1 dollar, and that created more a more press coverage, increasing the price further.

The bitcoin bubble

In 2013, a big part of the people with internet access knew the word “bitcoin”, and some begun to buy it to resell it later at an increased price, this created what is called an economic bubble. People, driven by speculation, where buying bitcoin at a price way higher than it should be, and when that difference grew huge, reaching a peak value of more than a 1000 dollars per bitcoin, it “bursted” dropping the price in the subsequence months.

The price of the bitcoins has been somewhat stable in 2015 (around 300 dollars per bitcoin), but it will increase in 2016.

 

This grapic shows the peak price in bitcoins