The price of Bitcoin (BTC) from 2009 to 2018


What has the bitcoin price trend been from 2009 to 2018?

First of all, it is worth noting that the first BTC was created on January 3, 2009 by Satoshi Nakamoto. At the time, only two people were using bitcoin, and throughout the year, BTC had very limited use.

In fact, to be honest, there is now no trace of any potential BTC trading with US dollars or other fiat currencies, dating back to 2009, so in fact there are no benchmark prices for that year.

The price of bitcoin is, in fact, nothing more than the rate at which the last trade was carried out in dollars, or other fiat currencies, for all intents and purposes, so since there is no record of such a trade in 2009, there are no reference prices.

However, there are at least a declaration of a person, Kristoffer Koch, who claims to have purchased 5,000 BTC in 2009 for approximately $ 26.6. So for that year, this price of $ 0.00532 for 1 BTC can be taken as a reference, which is also in line with the mining costs at that time.

The first documented transactions date back to mid-2010 and were carried out at an exchange rate of between $ 0.05 and $ 0.07, or 10 times the Koch purchase price.

Over the course of the year, the price increased further, reaching $ 0.39 and closing at $ 0.3.

The first year for which complete information exists is 2011, the third year of Bitcoin's existence.

It opened at $ 0.30, but throughout the year, it rose very quickly, due to what is likely to be the first real speculative bubble in the price of bitcoin. In the first half of June it reached $ 32, more than a hundred times its value at the beginning of the year. That bubble burst and the year ended at $ 4.72, still more than ten times the starting price.

Halving’s and bubbles: the price of Bitcoin from 2012 to 2018

Next year, 2012, was the year of the first halving but this happened in November. The previous all-time high of $ 32 was never broken, but there was a slow rise from $ 4.72 to $ 13.5.

In 2013 the first big speculative bubble occurred, with a bull run that lasted a year, which culminated in two months of exaggerated euphoria that took the price to the $ 1,156, before closing the year at $ 757. In other words, the price multiplied again by almost a hundred times throughout the year, before falling back a bit in December.

In 2014, the price dropped to $ 289 and then closed at $ 319. However, despite the drop, the final price was still 24 times higher than the initial price of the previous year.

The second cycle, which began with the 2012 halving, ended with a further loss in 2015, when the price fell to $ 172, before recovering to end the year at $ 431.

It's worth noting that the second cycle post-bubble low, $ 172, was still 36 times higher than the post-bubble low of 2011.

In 2016, the year of the second halving, the price rose again. It reached a maximum of $ 979, close enough to the all-time high of 2013, and then closed at $ 964.

The year 2017, like 2013, was characterized by a long bull run, which ended with a large speculative bubble that lasted for about two months. 2017 was also the year after the halving.

Actually, the price first dropped even further to $ 756, but then spiked to around $ 20,000 , before closing at $ 14,156. This closing price was more than ten times higher than the previous all-time high in 2013.

2018, like 2014, was a year of decline, with the price dropping first to around $ 6,000, and then even to $ 3,191, before closing at $ 3,743, which was still a price almost four times higher than the previous year's opening price.

Towards the third halving and beyond

From then on, 2019 was a relatively neutral year, unlike 2015, while in 2020, the year of the third halving, the price rose sharply, reaching new all-time highs at the end of the year (then exceeded by a wide margin in 2021).

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