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The answer to how much Bitcoin (BTC) is worth changes every day; every minute, in fact. When Bitcoin was launched in 2009, its value was little more than $0 per coin, rising to no more than $0.10 in its first year of trading. Since then, Bitcoin has proven to be one of the most volatile assets and currencies in history, hitting all time highs (ATH) of $69,000 in November 2021, and more recently in March 2024, surpassing $73,000.
As of the time of writing, Bitcoin is trading at around $68,200, with a 24-hour trading volume of $20.34 BTC.
The early years of Bitcoin
In its early years, Bitcoin grew slowly from a nascent project created by an anonymous entity, Satoshi Nakamoto, adopted primarily by a small group of crypto enthusiasts. Despite its design as an alternative currency, infrastructure was minimal, and Bitcoin remained a niche interest within the software engineering community rather than a financial revolution. The first notable Bitcoin transaction took place in May 2010, when bitcointalk.org forum member infamously Laszlo Hanyecz enquired about purchasing two pizzas with 10,000 bitcoin, each coin taking on a value of around $0.0041. The asset’s value remained less than $1 until February 2011, after which it surged 30 times by June 2011, only to quickly drop again, showcasing the characteristic volatility that would come to define the cryptocurrency market. Bitcoin ended 2012 at around $13.50 after an uneventful trading year.
2022’s Crypto Winter
The term “crypto winter” describes a season of discontent in the cryptocurrency market, akin to a bear market in traditional finance —a slow decline, contrasting with an upward-trending bull market. The year 2022 was marked by particularly harmful events for the crypto market and community. The global economy was struggling with inflation, interest rates, and borrowing costs that were higher than normal, which translated into less investment activity. Set against this background, several crypto-specific events caused a widespread confidence crisis in crypto: in May, the crash of TerraUSD and Luna in May wiped out billions in investor equity; in November, the crypto exchange FTX went bankrupt amid allegations of financial misconduct against its founder, Sam Bankman-Fried. The collapse of FTX caused a market-wide ripple effect, leading to BlockFI’s bankruptcy, given its exposure to FTX assets, resulting in further losses for investors.
2024: A golden year for Bitcoin
Despite the recent crisis of 2022, Bitcoin recovered slowly through 2023 and so far, 2024 is turning out to be its best year yet. Starting the year at $43,906 with a market cap of $915.81 billion, Bitcoin surged to a new ALT of $73,750 in March. A month earlier, 11 spot Bitcoin ETFs had been approved by the SEC in a historic move, allowing funds from outside the crypto community to flow into the asset class through more traditional investment rails. Although Bitcoin experienced fluctuations, dropping below $60,000 at one point, it rebounded quickly after another set of SEC-approved Ether ETFs were launched in May, stabilizing around $70,000. April’s greatly anticipated halving event did not have the effect many were hoping for, with estimations based on Bitcoin’s past halving events, which were followed by a significant increase in value. Despite this disappointment, the asset has remained relatively steady throughout the year, with growing adoption around the world and endorsement by some of the United State’s most important politicians.
How much will Bitcoin be worth in 2025?
Predicting Bitcoin’s future value is inherently uncertain, given the volatility of the market and its tendency to be influenced by a wide range of factors. Bitcoin’s price in 2025 will depend on multiple variables, such as regulatory changes, macroeconomic conditions, market adoption, technological advancements, government support, and major events affecting the broader crypto ecosystem. While experts and analysts have made predictions for how much Bitcoin will be worth in 2025, these estimates range from conservative values of around $100,000 to more ambitious predictions of $250,000 or higher. Visit our recent blog on the Bitcoin Conference 2024 for more insights into predictions and the unprecedented political support for Bitcoin.
For more on Bitcoin, discussions of current crypto trends, and how to integrate crypto payments into your business’ workflow, visit www.forumpay.com, or get in touch with our sales team to discuss any questions you may have.
