Bitcoin to USD: chart and price

Interesting facts

Bitcoin is the first digital currency. It created in 2008 and the first exchange of coins for goods was in 2009. After this, the value of the asset increased more than 10,000 times.

It’s unknown, who is the creator of Bitcoin, but his\her aim was to decentralize the financial market and remove intermediaries-bankers from it. The coin has a high level of protection, so hacking the wallet is impossible, as well as to recover the lost password from the account.

In 2017, the news about the girl who remembered that she has a Bitcoin wallet spread on the Internet. The amount of this wallet was equivalent to 1 million USD. When she tried to log in, it turned out that she forgot the password.

But nothing helped her: neither appeal to the program developer, nor consultations with extra-senses, psychotherapists, hypnotists, etc. Coins are lost forever. Thus, according to statistics, about a third of the existing coins are on an account to which there is no access.

Also, it’s noteworthy that half of the coins are owned by 1000 people, while the rest are scattered on the accounts of individual users, the balance of which rarely exceeds 0.1 BTC.

Bitcoin related to currencies with a pre-limited emission, and the boundary value is 21 million coins. Due to this, the coin is not subject to inflation, so purchasing power is growing every year. This asset is ideal for long-term investments.

With maintaining the current pace of development of the Bitcoin network, the last coin will be found by 2140. But this forecast is not exact, because the latest technological breakthrough like the invention of ASIC miners can speed up the process significantly.

Every 4 years, the miners’ reward for the found block is halved. This leads to a smooth rate growth of 80-120% from the previous average value. The maximum is not restricted.

The decrease in the award in 2016 led to an increase in the rate from 2 thousand to 20 thousand USD. Indicative dates in the coming decades are: 2020, 2024, 2028, 2032. If the current trend continues, the value of Bitcoin will overcome the mark of 100 thousand dollars for 1 BTC in 10 years.

What affects the price

In addition to the reward for a block, the value of Bitcoin is determined by several factors: news background cost of electricity, public interest, political will, functionality.

News is a fundamental tool to influence the quotes of the coin. With publishing positive articles or optimistic expert opinions, the market immediately reacts with rapid growth. At the same time, any negative, such as the statement of a politician or a prominent expert, leads to a spontaneous down of the rate.

For Bitcoin production and maintenance of the blockchain network, an impressive amount of electricity is required. Every hour spent about 200 thousand USD. Because of this, the cryptocurrency can’t cost less than the cost of its maintenance. The increase in the cost of electricity inevitably leads to an increase in quotations.

As energy carriers are becoming more expensive, and the complexity of the network is growing exponentially, it is a mistake to believe that the coin will fall to prices of 2014-2015. The rate will continue to grow, but how exactly – depends primarily on traders.

The higher the interest is in cryptocurrency, the more volatile the market. Traders regulate prices by themselves. Neither banks nor any other financial institutions can interfere in this process. Therefore speculations on crypto money are so profitable.

Officially, Bitcoin is forbidden only in Nepal and Bolivia, but some other countries, including China, Iceland, Vietnam, Pakistan, just limit currency operations. As for the recognition of Bitcoin, only 10 countries did it. These are the Baltic States, Benelux, USA, and England. At the same time, the rest of the world is pending.

At the dawn of Bitcoin was not suitable for payments, but in 2019 for this currency, you can buy everything: from food to an island in the Pacific Ocean. The ability to make payments in cryptocurrencies without the need to exchange for fiat contributes to the spread of cryptocurrency and the growth of interest from ordinary citizens. According to the General Law of the economy: the higher the demand is the more expensive is the price.