When trying to determine the value of Bitcoin, it can be very difficult. This is a currency that is fluctuating in value, and only looks set to get more temperamental. It’s very difficult to put a definitive value on Bitcoin because of how volatile the market and economy can sometimes be. All we can do is look at the current pricing, and track how much Bitcoin has changed over the years.
So, if we take a journey back to when it was first released in 2009, it’s easy to see how much the cryptocurrency has grown. To wit, the first time Bitcoin burst onto the scene it was pretty underwhelming. Its value from January 2009 to April 2010 was pretty much non-existent. And then the currency began its fluctuating pattern, reaching parity with the dollar in early 2011.
It rose and fell on the stock market through the years, but here was always a steady climb. In March 2017 the currency climbed to the unprecedented figure of $1,290, before dropping the following month. But, it grew once again, earlier this month reaching its highest ever value of $1,700USD! Wowser! Even if we assume the volatility of Bitcoin, it’s still pretty clear that the cryptocurrency has moved in an upward trajectory pretty significantly in the past few years.
So, currently, the price in USD sits at a little over $1700, in fact, when we last looked it was $1,749.96! This equates to a little over £1,349.51GBP and shows the strength and power Bitcoin currently possesses. Now, we are well aware that Bitcoin has had its critics, and there are still those who are unsure about the safety and validity of it as an investment for the future.
But, one thing is for sure, and that is that the price is only going to grow and improve. When it comes to the market, it’s clear to see that things like Bitcoin are always going to grow. Many people worry the bubble will burst for good, but this seems highly unlikely, and it’s probably more likely that Bitcoin will continue to grow.
So, it seems like a pretty good investment right now, for those wanting a secure and safe investment that will likely offer a wonderful ROI. But, you will need to have the money to make said investments, as well as understanding that the market volatility is something nobody can predict.