Bitcoin to dollar exchange rate – why cryptocurrency is growing in price

Bitcoin to dollar exchange rate – why cryptocurrency is growing in price

The cost of the cue ball in the entire history of its existence was very unpredictable. It was either actively growing or falling, and all this happened extremely rapidly, and literally one minute could dramatically affect the rate of bitcoin against the dollar. This high volatility is explained by the fact that, unlike real money, the crypto sign is not backed by either gold or goods – its value directly depends on the demand, that is, the more Bitcoin is bought on the network, the more expensive it becomes.

The first ratio of the evergreen to the elder brother of all cryptocurrencies was formed in October 2009 – a year after the first mention of bitcoin. Then for $ 1 they asked for a “modest” amount – more than 1309 military-technical cooperation. It never occurred to anyone to calculate how much one cryptocurrency costs there, since it was negligible. This was followed by the activation of miners, cryptocurrency exchanges appeared, but the price of the cue ball remained low – in May 2010, real goods were bought for crypto signs for the first time (remember that same pizza?), With 10 thousand MTC quoted as $ 25.

But a couple of months after a significant purchase, the price of bitcoin increased tenfold. From that moment, it actively went up; in November of the same year, the capitalization of the first cryptocurrency reached a million, and the cost of one bitcoin coin was $ 0.5.

The year 2011 was very dynamic, the bitcoin exchange rate against the dollar finally reached parity, and then began to rise exponentially – to $ 10, and then more than $ 30. But, right there, having reached an absolute peak, the Bitcoin exchange rate sharply declined. Frequent thefts of crypto coins from electronic wallets began, both small and very large, which led to a drop in confidence in this currency.

Frankly speaking, from 2012 to 2013, the exchange rate of bitcoin against the dollar remained almost unchanged. But now, starting in 2013, the cue ball announced itself very loudly – either falling or rising in cost, he reached an absolute record that shocked many – $ 1,200! Then the price indicator was again unstable and fell catastrophically. It was possible to exceed the maximum only in 2017, a new record amount simply did not fit in the minds of users – more than $ 1900. Today, bitcoin is at around 1935.65, but at any second this figure may change.

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