Rise in Bitcoin Price
Bitcoin is a digital asset and payment system, created in 2009 by an unknown person or group of people using the name Satoshi Nakamoto. Since its inception, it has become one of the most valuable cryptocurrencies in the world and remains highly volatile to this day. The price of bitcoin has seen dramatic increases over recent years due to a combination of factors including increased interest from institutional investors, developments related to blockchain technology, speculation about future adoption rates and other macroeconomic factors such as inflationary pressures.
In December 2017, the price for 1 BTC (bitcoin) was around $20k USD after breaking several records during that month’s trading period. This incredible rise was largely attributed to increasing demand from institutional investors who had previously been reluctant to enter into cryptocurrency markets due to lack of regulatory oversight. Over time more governments have implemented stringent regulations which have provided greater assurance for these types of large-scale investments leading them further into cryptocurrency markets.
The increase in usage also drove up prices as new users continued entering bitcoin exchanges looking for ways to invest while avoiding traditional financial systems with their high fees or slow processing times associated with international transactions. As more businesses began accepting payments made with BTC – such as Microsoft and Expedia – it became easier for average consumers purchase goods online without worrying about foreign exchange costs or delays associated with traditional banking methods like wire transfers or money orders.
With this growing acceptance came additional investment opportunities which resulted in even higher prices throughout 2018 before eventually settling down towards the end of that year at levels close what they were near prior all-time highs ($3200-$4000 USD). Since then we’ve seen modest growths across multiple indices but nothing quite on par with previous market cycles where almost anything seemed possible when considering potential returns on investment .
Overall Bitcoin’s rise is still far from over and continues be heavily influenced by numerous economic forces both domestic and abroad; although there are never any guarantees about what will happen next we can reasonably expect more wild volatility swings along way as well certain degree caution going forward given uncertainty surrounding global economic conditions at present moment..
