The first virtual currency in history and a digital revelation! The bitcoin has everything talking! But what is the value of bitcoin? Has it decreased or increased since 2021?
How Much Is The Value Of Bitcoin In 2022?
Many people have an interesting opinion of the volatile asset whose value regularly fluctuates significantly up and down. Let’s dig into this subject and see what causes the value of bitcoin to fluctuate so much.
What is the value of Bitcoin?
The value of Bitcoin varies constantly because the cryptocurrency market is open without interruption, unlike the world stock exchanges. In 2021, the value of bitcoin was $34,366.15. A year later in 2022, the value of bitcoin has increased to the valuation of $36,285.93.
Value of Bitcoin history:
FUN FACT: In the beginning, the real value of Bitcoin was almost non-existent.
The story of Bitcoin began in 2009 as it was invented right after the 2008 economic crisis which prompted Satoshi Nakamoto to develop a dematerialized currency system to escape the constraints of cash and its loss of value as it is printed.
The first Bitcoin transaction took place on January 12, 2009, and this was when it had the least value. In fact, on October 5, 2009, the first estimate of the value of Bitcoin was €0.00071. So the value of bitcoin was almost nothing back in 2009 as compared to the current valuation of $36,285.93.
Since its beginnings, the cryptocurrency pioneer went through several stages:
- On November 7, 2010, the value of Bitcoin is €0.40 ;
- On June 10, 2011, Bitcoin briefly rose to €28 ;
- As of December 31, 2012, its value was €11 ;
- On April 9, 2013, the cryptocurrency reached a record high of €287. After rising to $500 on November 17, the $1,000 cap passed for the first time on November 28;
- In early 2014, Bitcoin rose above €1,000. But after all these records, the value of the cryptocurrency drops sharply: at the end of the year, a Bitcoin was worth almost $320, or around €254;
- The trend reversed in 2015: the value of Bitcoin in euros reached €275 on March 10;
- On July 9, 2016, one Bitcoin was worth €590. The virtual currency ended the year on a high note with a value of €887;
- February 24, 2017, new record: the value of Bitcoin in dollars is $1,222. But it is from the month of May that the currency surpasses itself, to end up reaching the value of $19,891 on December 17. Bitcoin then falls back to €10,000 on December 22;
- In February 2018, the value of Bitcoin fell sharply below €5,000. On December 15, it reached its lowest value of the year with $3,215;
- As of June 2019, one Bitcoin was worth $10,000.The currency experienced a new fall at the start of the year, and its value fell back to $7,500;
- In March 2020, after a crash caused by the coronavirus, Bitcoin fell by around 45% and reached a value of €3,790. However, the value of Bitcoin in 2020 shattered all year-end records, crossing the $20,000 mark in mid-December. It nevertheless pulled out of the game by recording a 200% increase over the year!
- From the first week of January 2021, this record figure was doubled since Bitcoin reached the value of $40,000 on January 7!
- On Jan 24, 2022 the value of bitcoin is 36,285.93 which is an increase compared to last year in 2021, where the value of bitcoin was $34,366.15.
How much is Bitcoin currently worth in 2022?
Impossible to answer this question precisely, because the real value of Bitcoin is constantly changing. As its history shows, the price of Bitcoin is unpredictable. In January 2022, the value of bitcoin was $36,285.93.
Despite the varying nature of its value, why does the value of Bitcoin increase?
The value of Bitcoin depends on multiple parameters. Like any virtual currency, it is a volatile asset and due to its volatility, it is particularly dependent on the image given to it by authorities such as the media and financial organizations.
As you can see from our list of varying valuations where we were looking at the history of the Bitcoin price, we notice that its value is reaching incredible records at the time when we talk about it the most – almost like a celebrity. Thus, the notoriety of Bitcoin has a direct consequence on its value: the greater the number of investors, the more the price of the cryptocurrency increases.
FUN FACT: the number of Bitcoins in circulation is limited!
So when it comes to this virtual currency, the value is all based on supply and demand. If the supply is greater than the demand then the value of Bitcoin drops. On the other hand, if the demand is greater than the supply, the value of bitcoin will automatically spike.
FAQs on Bitcoin:
How can I follow the evolution of Bitcoin?
If you want to keep yourself informed of the evolution of Bitcoin in real time, all you have to do is go to one of the many specialized sites to know everything about the value of Bitcoin day by day.
Is it too late to invest in Bitcoin?
Given the value reached by Bitcoin, many investors are convinced that they have missed the boat. Is this really the case? The answer is yes and no: while it can be difficult to bet tens of thousands of dollars in Bitcoin, it does not mean that it is impossible to invest small sums of money either.
Like all currencies, Bitcoin is divisible. This means that you don’t have to invest more than $100 or $200 in this market to take part in the festivities. However, keep in mind that Bitcoin is a fluctuating market and you are not guaranteed that your investment will be profitable in the long term.
Who is the creator of Bitcoin?
The flagship cryptocurrency which was created in 2008 is known to have come from Satoshi Nakamoto. The mystery hovers over his identity as this person doesn’t really exist:
- there is no face to this man,
- we still don’t know who he is,
- and we don’t know either if it’s a person or a group of people who created Bitcoin.
Where are Bitcoins stored?
The Bitcoins in circulation are stored on the blockchain. The blockchain is a Bitcoin network and this name designates the technology allowing the storage of cryptocurrency. It is also used in other sectors, such as
- the transmission of information, and
- the tracing of financial transactions in a decentralized manner.
Bitcoin users have different ways to manage and store their currency in cold wallets, which are also called offline wallets. This includes two types of storage:
- Hardware wallets: these contain private keys in the form of a USB key are known to be the most secure and practical storage mode.
- Paper wallet: users can also choose the portfolio in paper format where funds are recorded on a piece of paper.
In contrast to the offline wallet, there is online storage, which is the easiest to use. The principle is simple: you can use an online service provider such as Coinbase or Blockchain.info to secure your wallet for you. They then become the official holder of your cryptocurrency since they are the one who is in possession of the private keys allowing access to your wallet.