Bitcoin is the most valuable cryptocurrency worldwide. It has a market capitalization of over one trillion dollars and is the most traded digital asset out there. Like all the other tradable assets, the Bitcoin market also experiences ups and downs. However, compared to other assets, Bitcoin’s ups and downs are frequent, making it a highly volatile asset. While fluctuations in the Bitcoin price can prevent it being accepted by some as a medium of exchange, the volatility can be very profitable for investors and swing traders. So, what should you know to get started buying Bitcoin and trading the price action (PA)? This is our guide to the all aspects of the Bitcoin price – you’ll understand how the price of Bitcoin is determined, what affects Bitcoin’s value, and how to read real-time Bitcoin price graphs. On this Page:Contents [show] Best Bitcoin Exchange in January 2022 InvestInvest$=BitcoinRefreshMore FiltersSort ByRating1 Providers that match your filtersPayment methodsCredit CardGiropayNetellerPaypalSepa TransferSkrillSofortFeaturesInstant VerificationFor BeginnersWallet ServiceMobile AppUsabilityVery GoodGoodAverageBadSupportVery GoodGoodAverageBadFees1 or betterSafety1 or betterCoin selection1 or betterRating1 or betterClear Filter Ratingfor $ 1000 you get0.0272BTCWhat we likeEasiest to depositMost regulatedCopytrade winning investorsFeesSafetyCoin selectionFeaturesPayment methodsfor $1000 you get0.0272 BTCRead ReviewBuy BitcoinRead Review68% of retail CFD accounts lose money. What is the Price of Bitcoin Right Now? At the time of writing the price of Bitcoin is slightly above USD 57,000. But Bitcoin’s value can drastically go up and down at any moment, as cryptocurrencies stand out with high volatility. This, on the one hand, makes it a relatively risky asset; on the other hand, it can return you quick rewards if you interpret the price action properly. View the Bitcoin price now on the live BTC price chart below. Get an overview of the recent Bitcoin price history by adjusting the timeframe, and select a currency to view the Bitcoin price in USD, GBP or EUR. To keep track of Bitcoin’s value, you can use live charts and graphs such as the above one, updated in milliseconds. Our visit crypto exchanges such as eToro which has Bitcoin price charts. Exchanges have in-built indicators you can use to do technical analysis (TA) or you can keep up to date with news developments in blockchain technology, known as doing fundamental analysis (FA). Historically, Bitcoin was created in 2008 by a person or persons known as Satoshi Nakamoto, and the first transactions in bitcoin started in 2010. At that time, Bitcoin was traded below 1 cent, but after the three years of its creation, it managed to draw enough attention to exponentially rise in value. The price of Bitcoin has experienced several peaks and valleys, which you can examine through the chart above. Visit eToro Your capital is at risk. Why Invest in Bitcoin? In this section, we have summarized all the essential factors to make an investment in bitcoin. Bitcoin is the most valuable and well-established cryptocurrency worldwide. Bitcoin introduced new technology solving the problem of double-spending. It’s a decentralized cryptocurrency, meaning that no third party can keep track of your transactions. Bitcoin is censorship resistant, which means that anyone can make transactions in BTC and mine it in any part of the world. Bitcoin has a huge trading volume: there are more than 400,000 daily transactions in BTC. Bitcoin value performed great from the beginning of its creation, reaching $57,000 from $0.0008. Bitcoin is not controlled by any central bank, so it stands out with high volatility, making it a risky asset. So, the higher the risks, the higher the rewards. Bitcoin adoption is growing – more and more people get involved in Bitcoin trading, and more companies start accepting BTC. Compared to other cryptocurrencies, Bitcoin is less speculative and more established. It has more real-life uses and is accepted by such well-known companies as Microsoft, Amazon, PayPal, Etsy, Starbucks, etc. Bitcoin has a limited maximum supply: only 21 million BTC can ever be mined, 18 million of which is already in circulation. This fact makes BTC more valuable. How is the Price of Bitcoin Determined? To better understand how Bitcoin price is determined, you first need to know the supply and demand law. The supply of a product and public demand for it is strongly correlated with its price. So, when the product is abundant, and there is little demand for it, it will have low value, but if it is scarce and there is a high demand for that product, it will clearly be more valuable. So far, Bitcoin has gained huge popularity – lots of people want to own BTC for various purposes, such as for buying goods and services, for trading, etc. It makes Bitcoin an extremely demanded cryptocurrency and a form of money. Plus, Bitcoin has a limited supply, and the amount of BTC that can be mined is halved every four years. Hence, we can say that Bitcoin has a low supply and high demand; that’s why it’s so expensive. But still, you may wonder – is it only determined through supply and demand? And how cryptocurrency prices are different from the value of fiat currencies? The problem is that fiat currencies are controlled by central authorities who can have more control over their supply – they can print more money if the demand increases and hold it if the demand decreases and keep the prices stable. Bitcoin is not backed by a government or a central bank, so it cannot directly affect the Bitcoin value, and it can only be determined by the buyers and sellers in the open market. So, to be more valuable, Bitcoin just needs to get more demand, and several factors influence its demand which we will talk about in the following sections. Buy Bitcoin Your capital is at risk. What Price Did Bitcoin Start At? The first transactions in Bitcoin started in 2010 when Bitcoin was traded at $0.0008. The first famous Bitcoin transaction was made by Laszlo Hanyecz, who agreed to give away his 10,000 bitcoins for two pizzas. At that time, BTC reached $0.004, so two pizzas cost him $41 (it would cost almost $570 million at the moment). These were the most expensive pizzas ever, and as the transaction was conducted on May 22, this date became known as Bitcoin pizza day. At that time, the daily transactions in Bitcoin were not too high, as there were no bitcoin exchanges, and it was only transacted for hobby purposes. But soon, investors understood that they could make money with BTC, and in 2010 the first bitcoin exchange was launched called Mt. Gox, which increased the daily transactions in BTC. In 2011, for the first time, BTC was valued at equal to 1 USD. Soon, new cryptocurrencies appeared, which became known as altcoins. In 2013, for the first time, Bitcoin hit $100, and in November 2013, Bitcoin was already traded at $1,000. In 2014 crypto exchange Mt. Gox, who held 70% of BTC transactions, announced that 850,000 bitcoins were missing, which was the first major theft related to BTC. The incident affected BTC prices, and in April 2014, the prices crashed. In 2014, the first companies started accepting BTC, including Microsoft. Moving forward, the prices started to recover in 2017 – in May, BTC set a new high, being traded at $1,400, and in September, the prices broke $5,000. By the end of 2017, Bitcoin was traded at above $10,000. But soon, another crash occurred that led to a price drop of about 75%. And by the end of 2018, Bitcoin was traded at $3,300. Bitcoin price got a bit affected in 2020 by the Coronavirus pandemic, but as soon as the crash ended, it again gained value. In November 2020, Bitcoin set another all-time high and reached $19,800. At the beginning of 2021, Bitcoin was already traded as high as $41,000. The catalyst – Bitcoin prices were positively affected by Tesla CEO Elon Musk’s announcement claiming that Tesla started accepting BTC, which led to another all-time high, increasing Bitcoin value up to $50,000. Another reason was the announcement of PayPal to accept bitcoin. Bitcoin set its historical all-time high on April 14, 2021, which is mainly associated with cryptocurrency trading platform Coinbase going public. But in May, prices started to drop drastically, decreasing to $30,000. This drop is primarily associated with two factors – first is the Tesla announcement, but this time the company suspended BTC transactions, reasoning that its mining damages the environment. There were also rumors that Tesla had already sold or would sell its BTC. And the next reason was a set of regulations applied to BTC by the Chinese government. At last, Bitcoin recovery started in September 2021 – soon, it recovered to $50,000. On October 20, it broke another all-time high of $66,000, and in November, it hit its highest all-time high yet of $69,000. Shortly after, the prices dropped again below $60,000. As you may see, Bitcoin prices change abruptly, which is known as Bitcoin volatility. In December 2021 the Bitcoin price experienced a flash crash to $42,000, due to uncertainty over the latest Covid-19 variant, Omicron, and how effective vaccines would be in combating it. Other contributing factors were a decline in stocks and equities, and a liquidation cascade – open interest (OI), a measurement of how many people were long or short the Bitcoin price using derivatives, declined sharply after the dump. It also took place over a weekend, when the Bitcoin price can be even more volatile as there is less institutional liquidity in the market when traditional markets are closed over weekends. According to CoinCodex, the Bitcoin price has recovered approximately 20% since then and is currently trading at around $49,000. Compare Bitcoin Platforms Visit Site68% of retail CFD accounts lose money.Visit Site75% of retail CFD accounts lose money. Capital.com does not offer accounts to US residents.Visit Site74% of retail investor accounts lose money when trading CFDs with this provider.Visit SiteThe price and value of any investment in digital asset products can fluctuate.Visit SiteThe traded price of digital tokens can fluctuate greatly within a short period of time.Visit SiteMarket prices for digital tokens can be volatile and highly unpredictable.Visit SiteAs with any asset, the values of digital currencies may fluctuate significantly.Visit SiteThe value of digital currencies can go up or down frequently.Visit SiteTrading leveraged products may not be suitable for all investors.Visit Site71% of retail CFD accounts lose money.Visit Site72% of retail CFD accounts lose money.Rating5.04.94.84.220.127.116.11.18.104.22.168Mobile App Rating10/108/109/109/108/108/109/109/109/109/108/10FeaturesMobile AppWalletNumber of Coins12817592233113650401556FeesTrading FeesSpreadsSpreadsSpreads0.1%0.1%0.1%0.1%0.50%SpreadsSpreadsSpreadsDeposit FeesN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AWithdrawal Fees$5N/AN/A0.0005 BTCN/AN/AN/AN/AN/AN/AN/AExtrasRegulatedASIC, CySEC, FCAASIC, CySEC, FCACySECN/AN/AN/AFCAFCAN/ACBI, MiFIDFCAMin. Deposit$50$20100 EURN/AN/A$10$10$2N/A$100$100Leveraged TradingN/A1 - 30xN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1-100x1 - 30x1 - 30xLatest Prices (per Coin)Bitcoin$41757.60$41795.18$41920.44$41784.74$41600.47$41593.99$41544.02$41569.56$42379.73$41899.56$41598.57Ethereum$3183.70$3127.46$3146.21$3126.68$3114.63$3113.27$3112.98$3114.38$3202.45$3135.28$3116.09XRP$0.76$0.74$0.75N/A$0.23N/A$0.74$0.30$0.76$0.75$0.74Tether$1.00$1.00N/A$1.00$1.00N/AN/A$1.00$1.01N/A$1.00Litecoin$143.39$140.86$141.42N/A$141.17N/A$140.50$140.68$144.24$141.56$141.03Bitcoin Cash$385.18N/A$382.91N/A$506.41N/A$378.08$378.08$383.67$382.73$379.46Chainlink$22.48N/A$22.52N/A$22.71N/A$22.45$22.48N/A$22.82$22.50Cardano$1.50$1.45$1.48N/A$1.45N/A$1.45$1.45$1.47N/A$1.46IOTA$1.13N/A$1.10$1.08N/A$1.08$1.91$1.91$1.13$1.10$1.08Binance Coin$471.68$542.59$460.86$460.75N/AN/A$460.40N/A$465.01N/AN/AStellar$0.26$0.25$0.25N/A$0.25$0.08$0.25$0.25$0.26$0.25$0.25Bitcoin SV$108.25N/A$107.61N/A$182.50N/AN/AN/A$108.25N/A$107.29USD Coin$1.01N/AN/AN/A$1.00N/AN/AN/AN/AN/A$1.00EOS$2.86N/A$2.80$2.78$2.77$2.77$2.77$2.78$2.82$2.82$2.78Monero$204.33N/A$205.14$202.46N/AN/AN/AN/AN/AN/A$124.02Payment methodsCredit CardGiropayNetellerPaypalSepa TransferSkrillSofort What Determines the Price of Bitcoin? The following are the main factors influencing Bitcoin price, which we will discuss separately. Bitcoin’s supply and public demand for it. Real-world uses and problem-solving innovative technology. Developments in the entirety of the crypto market in general. Media endorsements and news. Trading volume. Competition, exchange listing. Mining costs and rewards distributed to miners. Beyond that, as already mentioned, the first thing that can directly affect Bitcoin’s value is its supply and demand. Bitcoin has a limited supply, and it can have up to 21 million circulating supply. The demand for bitcoin is already high, which is influenced by certain factors enumerated on the above list. One of the main things is that this cryptocurrency is widely accepted and boosted. Several well-established companies already accept BTC to buy goods and services, including PayPal, and Microsoft. Bitcoin transactions are also widely accepted because you can send them to any part of the world, and there is no third party (like your bank or government) that can regulate this process. Competition is another factor that can influence the BTC price. Altcoins (alternatives for bitcoin) appeared only after 3 years of BTC creation, but now there are thousands of them, most of which are just the copy of Bitcoin with another name and logo. They have almost the same function as Bitcoin, but Bitcoin is still the driver in the market, and no other coin has ever managed to surpass Bitcoin. Bitcoin Mining Another crucial factor that can affect Bitcoin’s price is the cost of its production, that is to say, its mining process. This includes the resources required for that, and the rewards miners get in the result. The Bitcoin mining process is rather complicated. To mine a new block, you need to solve complex mathematical puzzles. But this you cannot do by yourselves, and your computer does instead. Still, you need to have powerful hardware to run your computer continuously and be the first to solve the puzzles. Besides, you will spend lots of electricity on this, so you need to also pay high electricity bills. That’s why people usually mine Bitcoin at places where electricity costs are lower. According to some measurements, Bitcoin mining consumes more electricity annually than the whole of Argentina. As miners spend enormous resources on Bitcoin mining, the Bitcoin price rises. But there is another thing to consider – Bitcoin is a limited cryptocurrency which means that the amount of BTC you can get per mined block is halved every four years. The first halving occurred in 2012 when 50 BTC per block was halved to 25 BTC per block. The last halving took place in 2020, making 12,5 BTC per block divided to 6,25 BTC/block. This means that more resources are needed to spend on the mining process; hence the mined Bitcoin will be even more valuable; otherwise, there is no meaning to mine it. What Was the Lowest Price of Bitcoin? Over the 12 years of its existence, Bitcoin prices have experienced several drastic drops. The first significant drop was during April 2014, associated with the fraud of Mt. Gox crypto exchange, when BTC prices crashed from above $1,200 to below $500. Another significant crash started in December 2017, when Bitcoin lost one-third of its value in just 24 hours. Bitcoin value continued to decrease during the whole of 2018. In February 2018, Bitcoin dropped by 50% and was traded below $7,000. By the end of the year, Bitcoin price decreased to $3,300, dropping more than 70% compared to the last year. The last significant Bitcoin crash occurred in May 2021, when Bitcoin value was almost halved, reaching $30,000. Still, it seems that the lowest price for bitcoin was around the first trade ever made – that is $0.0008. What Was the Highest Price of Bitcoin? Bitcoin has also experienced bull markets several times during its history in the same way it experienced bear markets. The first such experience took place in 2011 between February and April when Bitcoin finally took parity with USD. In just two years after this, bitcoin managed to break $100 at first and then $1000, and in November 2013, it was traded at $1,200. Another peak was accomplished in 2017 when Bitcoin, for the first time, finally hit $5,000. In just two months, Bitcoin doubled its value and reached $10,000, and an all-time high was recorded by the end of 2017, equal to $19,783. After that, Bitcoin suffered dramatically for about two years and managed to recover only in 2020. There were also three peaks recorded in 2021 – April, October, and November, which were $64,800, $66,974, and $68,520, respectively. Why Bitcoin [BTC] Prices Rise and Fall For better or worse, Bitcoin is a real currency. Just like a currency created by a government, Bitcoin has a fixed supply: 21 million exist, 17.5 million are available in active circulation. Also like a fiat currency, Bitcoin fluctuates in value according to the laws of supply and demand. Fiat currencies like US Dollars do the same thing, though we don’t often realize it because most people don’t compare the value of USD to anything but itself. But when USD currency markets are flooded (lots of dollars available due to inflation and other forces), users of USD can buy comparatively less with their money than they could when the supply was lower. The same is true of BTC. BTC value is mainly based on 1) its scarcity, and 2) universal agreement that Bitcoin is money. We’ve covered the first point already. Any finite resource, like gold, is valuable if people want it and use it. People want Bitcoin. This leads into the second point, because people want Bitcoin and use it to trade for goods and services, everyone who is active in this market agrees that Bitcoin is money. Therefore, Bitcoin has value. This value changes depending on what people believe Bitcoin is worth at any given time. If the market agrees one day that Bitcoin is going to become more scarce (i.e. more valuable), then prices will increase because everybody agrees that Bitcoin’s future is bright. On another day, news of nasty government regulations might make it seem like Bitcoin’s future is in jeopardy, causing people to sell the Bitcoin they have for a lower price, because they’d rather have the US Dollars that they can get in trade. There are a million other reasons why BTC prices rise and fall. Most have to do with market sentiment (how people who use BTC feel about it at any given moment, often based on news) and market economic factors (trading patterns, how much BTC is available, how profitable it is to mine BTC, etc.). As Bitcoin investors grow to understand these various factors that go into influencing the Bitcoin price, they’ll be able to make more informed investment decisions. They’ll be able to make educated speculations about the future value of Bitcoin (which we’re about to try to do here today), and will be able to make sound investment decisions. How Often Does the Price of Bitcoin Change? Looking at the Bitcoin price history charts, obviously, you can notice how its value has changed over the years and that the price fluctuations occur quite often. The main reason for this is that Bitcoin and altcoins are not too established, and most people still don’t believe in their store of value. Right now, they are mainly used for the purpose of speculation. Accordingly, when a negative or positive event is heard about Bitcoin, people start either selling or buying Bitcoin in large amounts. The public panic disbalances Bitcoin’s demand and supply; hence the prices change. One of the best examples is when Tesla announced that it stopped transactions in BTC, which scared lots of people, and they started to sell the coin. Though volatility makes Bitcoin a risky investment, expert traders take advantage of this and earn good rewards during the fall and rise periods. This is because they guess buy and sell signals correctly, which you can also do by learning how to analyze this market. You can find lots of educational content on our website on this topic. Plus, we have a team of expert advisors that work 24/7 to keep you at the center of Bitcoin price news. Who Should Invest in Bitcoin? Though investing in Bitcoin is very attractive and promises abundant returns, you need to be careful with your money as it also involves significant risk. So, you need to invest with caution and put in only what you can afford to lose. There are basically two main ways of investing in it – retail long term investing and day trading. By making a retail investment, you take a long-term position and expect to earn an ROI over time. In contrast, day trading assumes that you open and close positions on the same trading day. Both methods involve risk. As in the case of long-term trading, it’s hard to know what will happen with Bitcoin after years because it’s a relatively new asset and not as well established as other assets. The reason for being careful with day trading is that Bitcoin fluctuates too much, so you also need to know the right times to buy and sell. Is It Still Worth Buying Bitcoin in January 2022? You may wonder if it’s still worth investing in Bitcoin when its price has increased so high. But the good thing is that Bitcoin keeps its volatility, which creates an opportunity to profit from its price fluctuations. Nonetheless, you need to know when is the right moment to buy and sell the asset. To keep an eye on the market and news, you need to visit such educational platforms as Inside Bitcoins, where we quickly update the news and make the appropriate recommendations for our readers. Looking ahead, some people believe that bitcoin can reach $100,000 per coin and even higher. The reason for that is the idea that bitcoin will replace other fiat currencies and will gain a large market share in the global financial system. So, keeping that in mind, if you believe bitcoin can be a legitimate form of money in the future, then it is certainly still worth buying it. How to Get Started with Bitcoin Investments To get started with Bitcoin trading, you first need to find a cryptocurrency exchange that supports Bitcoin and operates in your country. As Bitcoin is the most popular digital currency, you will find several brokers that support Bitcoin trading. But these exchanges vary significantly and have different pricing systems, regulations, trading opportunities, etc. So, you need to examine carefully to select the one that suits all your needs. But if you don’t have too much time to spend on research, we have a complete guide where you can learn everything related to Bitcoin trading and where to buy Bitcoin. Invest in Bitcoin Your capital is at risk. How to Invest Responsibly in Bitcoin? Before you start investing in Bitcoin, you had better get to know what you are investing in. So, do your own research to understand what Bitcoin is, how it works, and what factors affect its price. There are many courses and educational content on this topic that explain the essence of Bitcoin, how to read Bitcoin price charts, etc. Still, it’s important to mention that you cannot get an idea of bitcoin trading by reading only one article. You need to do thorough research, read different experts’ opinions, decide what you expect by investing in Bitcoin, etc. And what is most important is that you should always keep in mind how risky your investment is and invest with caution, never putting at risk the money you will strongly need after a short time. Bitcoin Automated Trading – How Does it Work? Following the tips given by financial experts is one of the main ways to understand what is going on in the Bitcoin market. But even the top crypto trading experts cannot completely handle the volatility of Bitcoin. To solve this problem, innovative technology has been introduced recently – known as trading ‘bots’. These AI-based automated trading tools are designed specifically to analyze the Bitcoin market and advise trading options. Bitcoin robots are fairly new in the market, but they have already incorporated several improvements to make their predictions more accurate and reliable. Bitcoin robots continuously monitor the crypto market and use their unique algorithms to offer you the best trades. They quickly incorporate all the new information to develop their technology and minimize your investment risk as much as possible. With all this being said, you need to keep in mind that you should not trust any bitcoin robot, as there are many scammers aiming to steal your money. Sometimes they seem so real that it’s almost impossible to separate the reliable robots from the fake ones. But there are several educational platforms where you can browse to find the best bitcoin robots and read their reviews about these tools. Once again, we have a complete guide on this topic that introduces the best Bitcoin robots of 2022. Bulls vs Bears Taxation on Bitcoin Earnings If you make money with your Bitcoin investments, you need to pay taxes, as Bitcoin is classified as property by the US Internal Revenue Service. The IRS applies the same taxes on Bitcoin earnings that are used for the property. So, you need to keep track of all your transactions and report them to the IRS to be taxed properly; otherwise, your trading is illegal. There are certain factors that the Internal Revenue Service considers when applying the taxes, including your income, the time you hold your BTC before you sell it, your tax filing status, etc. To get acquainted with all the nuances about Bitcoin taxation, visit the IRS website or their section for frequently asked questions. The Volatility of Bitcoin Compared with Other Cryptocurrencies In this section, we will compare Bitcoin’s volatility with two of the most popular cryptocurrencies – Ethereum (ETH) and Dogecoin (DOGE). Bitcoin vs Ethereum First, we should mention that Ether’s price is strongly correlated with Bitcoin price. So, when Bitcoin prices drop, Ether follows and vice versa. But we need to also add that in most cases, Ether increases more than Bitcoin increases and falls more than Bitcoin drops. Hence, this makes Ethereum more volatile than Bitcoin is. Bitcoin vs Dogecoin Dogecoin is also among the most volatile cryptocurrencies. One reason for this is that it’s highly used for speculation. Plus, it’s more affordable and can be bought and sold in larger amounts. Compared to Bitcoin, it’s hard to decide which crypto is more volatile and depends on which trading period we consider. When compared for 7 days, Dogecoin is more volatile, as its prices change by more than 4% while bitcoin changed by less than 1%. Anyway, volatility is not the only factor you need to consider while deciding which coin you want to invest in. Everything depends on your preferences, budget, ROI expectations, timeframe for any major returns, etc. Still, of all the cryptocurrencies, Bitcoin remains the most trustworthy, and it’s the leading choice for most investors looking to yield the highest profits, both short-term and long-term. Day-Trading Bitcoin vs Long-Term Bitcoin Investment There are different strategies that you can follow when investing in Bitcoin. They are divided into two groups – long-term strategies and short-term strategies. Short-term strategies are for active traders as it requires opening and closing positions quite often, so you need to keep an eye on the Bitcoin market and follow the changes continuously. Day trading is one of the well-known strategies which requires buying and selling BTC during the same trading day. In contrast, long-term strategies are for passive traders, who make an investment and wait for months and even for years for the right time to sell and profit. It’s worth mentioning that there is not a single perfect strategy for Bitcoin; you need to adopt a strategy based on your own needs, including your budget, what you expect from your investment, how much time you can devote to trading, etc. To find the perfect strategy suiting your requirements, you can also monitor such websites that keep you in the center of the events and help to find the best trading options. But if you don’t have too much spare time to analyze all this by yourself, you can use Bitcoin robots specifically designed to monitor the market quickly and offer the best trading options. Future Projections for Bitcoin There are several controversies about Bitcoin’s future. Some experts consider it a bubble that will lose its value soon, while most experts are sure that Bitcoin is the future of money. According to some predictions, Bitcoin prices will surpass $100,000 in 2022 and may even go higher if it gets mainstream and more people will get involved in this. But this also depends on governments and regulators – while in many countries its trading is considered legal, other countries completely ban any transaction in bitcoins. Conclusion To sum up, we can conclude that Bitcoin is the very first cryptocurrency that opened a whole new world for investors. Bitcoin has gone through several drops and rises, but it managed to survive and significantly increased its value over 12 years. Bitcoin started at $0.0008, but the current price of Bitcoin is in the mid five figures. That’s a strong bullish uptrend. One thing that makes Bitcoin innovative and trustworthy is its blockchain technology – which is decentralized and solves the problem of double-spending. Another thing that helps Bitcoin stand out is its volatility which creates a new opportunity to make money and makes it so desirable among investors. Network with other traders to find out their thoughts on the Bitcoin price and how high it can go, on social trading platform eToro. This regulated exchange has a discussion forum through which investors can share opinions with a whole community of other traders, beginners and experts alike. It’s also possible to copytrade a professional trader with a track record of making profit – review their past performance and choose from one or several traders to follow and copy trade. eToro - Our Recommended Crypto Platform Our Rating ASIC, CySEC and FCA regulated - 20 Million Users Worldwide Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort Free Demo Account, Social Trading Community Free Secure Wallet - Unlosable Private Key Staking Rewards for holding ETH, ADA or TRX Copytrade Winning Crypto Traders - 83.7% Average Yearly Profit Buy Crypto 68% of retail investor accounts lose money when trading CFDs with this provider. FAQs What is the price of Bitcoin? The current price of Bitcoin is $57,145, but it fluctuates frequently, so use real-time charts to keep track of Bitcoin price. What is the price of Bitcoin today? During the day of writing, Bitcoin's lowest price was $56,115, and the highest was $59.008. What is the price of Bitcoin right now? The price of Bitcoin right now is $57,145. What determines the price of Bitcoin? Bitcoin price is mainly determined by its supply and the demand for it. The secondary factors influencing its value include news, media endorsements, mining costs, real-world uses, etc. What was the lowest price of Bitcoin? The lowest price for Bitcoin was $0.0008 when it was traded in 2010. What was the highest price of Bitcoin? Bitcoin set its all-time high price on November 5, 2021, when it increased to $68,521. Still, we should mention that a new all-time high can be set at any time as Bitcoin is a highly volatile asset. What price did Bitcoin start at? Bitcoin was equal to $0.0008 when the first transactions in BTC were conducted. How often does the price of Bitcoin change? Bitcoin prices change pretty frequently, even during the hours. There were even cases when Bitcoin lost more than 70% percent of its value in just one day and then recovered by more than 10%. What influences the price of Bitcoin? Bitcoin price is determined by the sellers and buyers. If the sellers take over the market, the bear period starts, and the prices drop. In contrast, if buyers take over the market, the bull period begins. How long does it take to mine 1 Bitcoin? Even with the most efficient mining systems, it may take up to 5 years to mine just one Bitcoin. But there is an easier way to get it - which is to buy on crypto exchanges. Why is Bitcoin traded in Dollars? The US Dollar is considered the most valuable fiat currency in the world and is the world's primary reserve currency. Therefore, the benchmark price for Bitcoin is denominated in US dollar, however, bitcoin is traded on the open market versus any other fiat currency around the world. How much Bitcoin is left to mine? The maximum supply of Bitcoin is 21 million, 18.8 million of which is already mined, so there is less than 2.2 million bitcoin left to mine. What could influence the price of Bitcoin to rise? Bitcoin price can increase with the massive demand for it. There are certain things that make people start buying Bitcoin, the main of which is the positive events around it. What is Bitcoin mining? Bitcoin mining is the process of solving complicated mathematical equations to validate a new block and get rewarded for that. It is done through special computers and devices, and the process consumes enormous amounts of electricity. Is it still worth investing in Bitcoin? It actually depends on your budget and investment expectations. In any case, Bitcoin is still highly volatile, and there is a possibility to earn money with Bitcoin investments. How to predict the price of Bitcoin? To get an idea of Bitcoin's future price, you can look at the crypto expert predictions, but don't take them for granted and try to combine different analyzes on this issue.