If you compare all the currencies of all the countries the Kuwaiti dinar is stacked right and the top and price of 3.3 US dollars for each dinar making one of the most valuable currencies .Some say Bitcoin is even more valuable priced at six thousand seven hundred US DOLLARS for each Bitcoin.
Is this Real ?
Let's find out the story behind the Bitcoin prices. Bitcoin was created in 2009 by an anonymous person. Who called himself Satoshi nakamoto till date nobody has seen this mystery man but we have read his brilliant white paper on the subject his genius will become apparent to you as you read the white paper just nine years later the current value of Bitcoin is greater than the value of most banknotes and coins in the most countries.
Today I will give you a quick tour of Bitcoin prices that will make you sit up and wonder in this article .
Let's look at the rise of bitcoin the fall of Bitcoin and also some truth about the value of Bitcoin.
Next time you are on Google search for the term one BTC 2 USD , apart for showing the current exchange rate google will also show you a tiny graph. Which is the historical graph of Bitcoin prices in comparison to US currency. This graph started from 2009 and if you take a trip down memory lane last year's on the month of may 2017 when Bitcoin prices for around 2000 USD if you are invested $1 in bitcoins today it could be worth $3 in April 2014 when Bitcoin was around 340 if you had invested $1 in bitcoins today it could be worth $20 in July 2010 when Bitcoin was 8 cents if you are invested $1 in bitcoins today it would be worth 80700 dollars .
This astronomical rise in Bitcoin prices is driving many people to invest in bitcoins however it's Street and their have been many many drops in Bitcoin prices.
So let's look at the graph again and focus not only on the pics but the valleys.
On 15th of December 2017 Bitcoin reached seventeen thousand nine hundred US dollars and by 22nd December 2017 it fell sharply to thirty thousand eight hundred dollars . Bitcoin fell by thirty . Four hours the fall continued and by fifth February 2018 Bitcoin prices dropped by another fifty percent in 16 days falling below seven thousand dollars between April 2013 and June 2013 , Bitcoin fell by sixty two percent the most shocking fall was in 2011 Bitcoin was at thirty one dollars in July 2011 and by December 2011 it fell to two dollars this was a staggering 93 percent fall so don't go sell your car , motorcycle or your life savings to invest in bitcoins . Bitcoin is by far the most risky investment you will ever make invest only what you can afford to lose that may be just one or two percent of a net worth. People who have invested during peak times have suffered huge losses. Bitcoins are often mistaken to stocks and shares are directly linked to a company that produces goods or services . Let's say you own shares of a company like Apple when planning a revolutionary new Iphone model . Share prices will go up and if the company makes losses then the share price is will fall Bitcoin is nothing like company there's no Bitcoin product to service the price of Bitcoin. Bitcoin is purely based on supply and demand the good thing is that there is a limited amount of bitcoins in circulation as of today there are 17 million bitcoins in circulation there are two ways to acquire them you either buy them from someone or you run heavy computers and earn them.
People are eager to explore the world of crypto but there are so many risks.
Thanks for reading
This article originally published; https://read.cash/@Tahastories/bitcoin-rise-and-fall-51d951f0
