May 16, 2021


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Bitcoin showed growth of 1 million percent in 10 years. Is Bitcoin really dead?

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Bitcoin showed growth of 1 million percent in 10 years. Is Bitcoin really dead?

Bitcoin as the most powerful asset of the decade. Hundreds of millions of fans around the world. Millions of investors. Value has increased by more than 1 million percent since July 2010.

This is the story of Bitcoin since 2010. The most profitable asset of the decade is neither the S&P 500 nor the gold, Bitcoin surprised. Many people in the field of cryptography, investment and finance compare it to the Internet or e-mail in the early days of its existence.

Bitcoin compared to other investments

The value of the S&P 500 has trebled over the past 10 years. Gold is experiencing one of the worst decades and has risen to just over 43% to date. Some of the top performing stocks in the Russell 3000 index, including Exact Sciences or Intelligent Systems, grew by around 3000 percent.

Shortly from history of Bitcoin

Bitcoin was created in 2009 as an alternative to the global financial crisis that many of you remember. It was created by an individual or a group of individuals who have entered the history of Bitcoin under the pseudonym Satoshi Nakamoto.

Bitcoin was designed as a payment method that can be sent electronically between users worldwide and does not have a centralized control network. No one can stop, regulate or limit it directly. It can only disappear if we turn off the Internet or have no users.

Can Bitcoin fall to zero?

So we are rebutting the famous sentence Bitcoin is dead or Bitcoin falls to zero. If there is anyone in the world who uses Bitcoin, its value will be greater than 0. Bitcoin has been here for 10 years and is definitely not designed to be “just” the next 10 years. The number of Bitcoin coins is set at 21 million. The last mined Bitcoin could come in 2120. Bitcoin is simply a project that has been designed for centuries. Bitcoin runs on a network of computers that track all transactions in the general ledger, the blockchain.

Pizza Day

He recorded his first transaction two years after. It was used by someone to buy a pizza. The first transaction is combined with the purchase of the aforementioned pizza for 10,000 BTC (x $ 0.008) in today’s conversion at $ 8,300 per piece, the person would pay $ 83,000,000 for the pizza.

As you can already guess, the price of Bitcoin has changed over time and has grown in value, but it was not just about growth. As Bitcoin grew, hundreds of imitations appeared with greater or lesser success. Today we have another 5,000 coins, also called altcoins.

Bitcoin showed growth of 1 million percent in 10 years. Is Bitcoin really dead?

First crashes

In 2014, Bitcoin survived a significant fall, with $ 1,164 at ATH. Its fall to $ 271.93 was largely the cause crash of MT. GOX stock exchange. Bitcoin had to deal with the first obstacle. For further growth it was necessary to ensure quality and safe exchanges. However, there have been other cryptobourse hacks in the years to come. The last biggest hack combines with stealing up to $ 500 million in BTC.

U can check 12 biggest hacks in the 2019 – here.

Growth to ATH

Apparently as many as 90% of investors came in 2017 and there is no wonder. In 2017, Bitcoin rose above USD 1,000 and by mid-summer its price more than doubled. Madness has started. Every month until December 2017, Bitcoin almost doubled. But as he ran quickly, he fell even faster.
ATH (all time high) or the highest value in Bitcoin history was recorded at $ 19,701 in December 2017. When Bitcoin grew rapidly, it was often mentioned in the media in superlatives, while a year later was denounced as a fraud, bubble and ponzi scheme. Along with the media, the upcoming regulations and the threat of sanctions or a total ban on ownership, its price continued to fall until it fell to $ 3,116 at the end of 2018 (Bitstamp Stock Exchange).

The bottom of the last fall

The bottom of this crazy slump we noticed 10.12.2018. Bitcoin rebounded from these figures in 2019, when it attacked nearly $ 14,000 per head in the first half, with an increase of 300%. This growth was largely due to Bakkt, but after its implementation Bitcoin fell again to $ 7,200, where he moved at the end of 2019.

Despite this downturn, Bitcoin in 2019 confirms that it is the most profitable commodity in the last decade, and in 2019 it surpassed all competitors. Bitcoin achieved a year-on-year increase of more than 90 percent and surpassed the growth of the best in the industry: Palladium (+ 57%), crude oil extracted in the US (38.8%) and nickel (+ 34.1%). The situation in 2020 looks again favorable to bulls and Bitcoin value in 2020 in 8 days rose from 7 200 to the current 8 000 USD.

Halving and what’s next

In the shorter term, speculators expect this year to be less volatile due to the upcoming change, called halving. The number of coins allocated to miners, ie those processing transactions, is halved by halving. This is May 2020. The previous reduction in the number of coins, which took place about four years ago, coincided with price growth. So many speculate that growth will repeat again.

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