Wednesday, June 12, 2024

Bitcoin All Time High (Exceeds $50,000 in 2021)


A year ago, the bitcoin all time high was less than $10,000 for much of the year before it doubled in March of the same year. Despite the volatility recorded through the years, the value of bitcoin increased fivefold since then.

In 2021 Bitcoin all time high gets to $49,951. In February the figure went up to $51,000, passing the $50,000 mark. Few cents above the 50k range, bitcoin got its increase as big stores and companies such as whole foods, tesla, and MasterCard got the attention to cryptocurrency. Bitcoin’s price went up by 60% in 2020 only. And it does not seem to slow down even in 2021.

Interestingly even fortune 500 companies have shown interest in bitcoin. We expect a surge in the bitcoin price even in 2021, to be more than $50k. Even Tesla, an electric manufacturing company, reported that it has bought $1.5 billion worth of bitcoin and it soon would start to accept payments in bitcoin. Mastercard announced that it would support certain cryptocurrencies this year.

The current spike in price in bitcoin all time highs might be triggered by the Tesla’s $1.5 billion worth of bitcoin pump into the system. Mastercard, PayPal and even some Northern American banks promised to join the game same year.

Bitcoin Chart All Time

In the early days of bitcoin, the market was not as strong, there were few investors in the bitcoin market as well. The constant ban news on cryptocurrency had made the cryptocurrency market a fluctuating and unreliable method of exchange. These days the Bitcoin all-time high didn’t seem to get what is now in 2021. In fact, security issues and hacks in 2014 at Mt. Gox had cost the company a lot of loss, and the company filed for bankruptcy. These days, the bitcoin chart all time had lost a third of its exchange value.

On the contrary, early acceptance of bitcoin as a medium of the transaction by some top leading companies brought the usefulness and potential of the currency in the coming years. In fact, after Overstock announced it would use bitcoin to sell its overstock merchandise and especially online, the whole industry seemed to get excited and confused at the same time.

#Bitcoin All Time High near 2014

In the past few years, especially since 2017, bitcoin has gained considerable attention in its contribution to bitcoin all time high. Regulations on bitcoin have changed the volatile nature of the currency. A constant interest from inverters and big stores made bitcoin all time high grow constantly. Stores and big companies such as Tesla began considering bitcoin as a medium of transaction for their high-priced products as well.

Bitcoin All Time High Bitcoin Rises Above $50,000.
Bitcoin All Time High Bitcoin Rises Above $50,000.

Companies like Microsoft shied away from fully embracing the currency and tested the waters with only a few of their products. Xbox uses the bitcoin option to sell products online, on the Microsoft website. Although Amazon does not seem to be interested in the use of the currency until this day, it does not totally close the door. It allows buyers to use a bitcoin platform to buy products from Amazon using bitcoin.

In 2017, the bitcoin price was close to $20k mark.

The interest from institutional investors and retail investors has contributed to the bitcoin All Time High since the gesture has brought more liquidity and less volatility. At the time of the pandemic, in 2020, bitcoin has got a reputation for its potential against inflation, from high government spending. Besides, Treasury management companies are working on using bitcoin as part of their corporate treasuries.

In 2020 it seemed that the total supply of bitcoin in the market decreased due to a reduction in miner rewards. Bitcoin halving has increased at the same time, up to 300 percent by 2020.

Statistic: Bitcoin price from October 2013 to February 26, 2021 (in U.S. dollars) | Statista Statista

Bitcoin All Time High: Before 2010

Bitcoin all time high chart in 2010 was null. Tehre was no market. Bitcoin was just a hobby, and bitcoin’s calue was nealy non exisitant. Auctions for bitcoin in to dollar didnot have any voluntieer buyer.

This changed in May 2010, a man called Laszlo Hanyecz bought pizza in Florida with 10k bitcoin. This amount today is more than a 450 million dollars.

Bitcoin All Time High 2011

It was in this time period that Bitcoin become associaated with dollar.

Bitcoin All Time High 2013

Here, the price of bitcoin goes up to $150 in October. And nearly ten fold in a month time.

Bitcoin All Time High 2014

2014 was the bitcoin all time high graph went down. In fact, the year was the lowest recorded crisis recorded. The price went down to 340 to 530 dollars.

Bitcoin All Time High 2017

The price went up once again to what has been in 2013. Then in May 2017 new record price was seen when it was traded at $2000. In the same year, the price went up to $5000. Then in November of the same year, it went up to $8100. Following the 2017 Zimbabwean coup d’état, the final price doubled. And at one exchange, the price of bitcoin all time high (of the year) went up more than $13,000.

In December of 2017, the price showed an increase of $4000. Then an increase of another $6000 in the same month, then the unexpected happened in the same month. The price dropped to $13,800 with in a single day.

Bitcoin All Time High 2018

In February of 2018, the price dropped again by half. And the exchange price went down below $7000. A decade after the world here about the bitcoin, the price went steady at $6000, the is now known as a period of low volatility of bitcoin. In two months period, the price went down below $3300.

Bitcoin All Time High 2020

2020 saw another decline in price by more than half the price of bitcoin at the beginning of the year, hours before the panamic was announced. But soon the price doubled to $10,000 in five months in the mid of the pandemic. Between october an december of same year the price went up to $28,000.

Bitcoin All Time High Bitcoin Rises mastercard
Bitcoin All Time High- mastercard joining the race

Bitcoin All Time High 2021

In 2021, the price of all time high was recorded. Even in the first month of the year, the price of bitcoin went up to $34,800. At the end of the first month, the price only saw a change of a dollar per bitcoin, being at 33,078.

In February, the price saw an increase of $3000. Then at the end of February reached the bitcoin all time high of $50,000.

In 2021, some even compared it to gold and called it digital gold. Especially with tesla backing bitcoin, the idea of bitcoin and cryptocurrency seems to get momentum as a future. The Blue Ridge Bank recently raised controversy when it reports it would allow customers to buy and sell bitcoin though regional network machines. The BNY Mellon bank in US also promised to hold bitcoin for its clients.

Paypal and Mastercard are working to support bitcoin to dollar transaction, and make transaction using bitcoin easier.

Conclusion, Bitcoin all Time High

While bitcoin all time high exceeded the 50k mark in 2021, it is estimated that the figure could go six times higher by the end of 2022. Bitcoin is backed by top stores and institutions in US and other parts of the world as the new gold or as a new currency for that matter.

You need to realize that the volatility of the market could disappoint many investors along the way. Bitcoin could be the new gold where its up value would make grateful investors. On the other hand it is wiser to invest only a fraction assets. Even billionaires would advise to invest not more than one tenth of your income or portfolio. If you do, do wisely. The future would barely disappoint.

Source: Coin Market Cap

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