Bitcoin Price Overview
The current Bitcoin price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Bitcoin is based on a market capitalization of EUR. Bitcoin has a circulating supply of . The highest recorded Bitcoin price is EUR. And the lowest recorded BTC price is EUR.
In 2008, an anonymous inventor using the name Satoshi Nakamoto introduced the world to an entirely new type of asset class: cryptocurrency.
Nakamoto proposed a new kind of currency, which he called Bitcoin.
There were electronic currencies before Bitcoin. And Nakamoto did not invent the cryptography or networked blockchain data structure that support Bitcoin. But Bitcoin was the first cryptographically secured blockchain currency, and that has been enough to give Bitcoin dominance in the crypto market, which it is the most widely used currency.
Bitcoin represented a new world of possibilities and advantages over legacy currencies and financial systems. It also created a lot of confusion. Bitcoin doesn’t represent shares in a company as stocks do. It isn’t issued by a government like dollars or yuan. It isn’t backed by a physical asset like gold or oil.
All of this leads to questions. How much is Bitcoin worth? What determines the price of a single Bitcoin? How is the pounds to Bitcoin exchange rate calculated? How is it that this cryptocurrency has any value at all?
If you’ve wondered about questions like these, you have come to the right place. We’ve compiled everything you need to get a better understanding of the intricacies of Bitcoin’s price and the factors that influence it.
Bitcoin Price History
The price of Bitcoin (BTC) has been on a wild ride since the crypto began trading. The cryptocurrency market has proved to be far more volatile than the stock market, often experiencing swings of 10% or more in a single day – sometimes much more. Compared to Bitcoin, stock prices change minimally and slowly.
At its inception, Bitcoin was worth less than a cent. In fact, in May 2010, a hungry Bitcoin owner famously paid 10,000 BTC worth just a few cents for two pizzas in the first real-world Bitcoin transaction.
The BTC price level flirted with zero for a while, then finally broke the symbolic $1 mark in February 2011, establishing a BTC to USD price ratio of one to one. A few months later, Bitcoins were trading for more than 10 euros each.
In 2013, the value of Bitcoin first topped 100 euros. By the end of the year, the Bitcoin price was rocketing toward 1,000 euros.
Any Bitcoin chart showing the BTC exchange rate over time will record that the cryptocurrency languished for three years before embarking upon a bull run in 2017. By the end of the year, a single Bitcoin was worth 17,000 euros.
When the Bitcoin exchange rate rose more than 1,900% in a single year, the world took notice. It became common to see a Bitcoin calculator on web pages devoted to tracking world currencies. The Bitcoin converter was intended to tell investors and the public what the cryptocurrency was currently worth. The Bitcoin to USD price ratio made headlines every time it rose or fell by a few percentage points.
Government agencies, economists, and journalists began taking Bitcoin seriously, though most of the financial establishment remained skeptical. Editorials appeared in business journals whenever the Bitcoin exchange rate changed. Few established voices considered BTC worth the gamble.
Their skepticism was rewarded when Bitcoin’s price fell by 50% suddenly in an epic crash following the 2017 high. Once again, the price cycle moved through a long static period, with prices dipping as low as 2,500 euros per Bitcoin.
Another rise and fall followed in 2020 and again in 2021, as you can see in the Bitcoin chart on this page.
History shows that Bitcoin value has changed in repeated cycles. There’s a period with little change, a dramatic spike, a correction that erases much of the sudden gain, and then a relatively rapid climb to establish a new stable price.
Sometimes these cycles take years, and sometimes they are complete in a few months.
What is clear is that although some of the established financial community has retained its skepticism, Bitcoin has outperformed the stock market and major commodities over the long term. The value of Bitcoin today continues to rise.
Over the 10 years ended 1 July 2021, Bitcoin’s price grew at a compound annual growth rate of 116.41%. Gold? 1.82%. Nasdaq? 17.77%. Figures like these make Bitcoin worth consideration from any serious investor.
Analyzing Bitcoin’s Price History
Bitcoin’s price history can be analyzed with many of the techniques used by brokers and investors to analyze stock performance.
Technical analysis involves looking at a BTC chart to make sense of previous price movements. With Bitcoin, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell coins on exchanges.
Fundamental analysis, on the other hand, is based on tracing the effects of world events and economic conditions on Bitcoin’s price. For example, Bitcoin’s price generally responds to government announcements of stricter or looser regulations on cryptocurrency trading.
Public statements by celebrity investors seem to have a major impact on the Bitcoin exchange rate. Bitcoin’s record-setting rise and fall in 2021 coincided with Tweets by Tesla CEO (and crypto enthusiast) Elon Musk.
Factors Influencing the Bitcoin Price
Many other factors can affect the price of Bitcoin.
Bitcoin has a fixed total supply, so it is resistant to the inflation that plagues fiat currencies. This suggests that Bitcoin can sometimes outperform traditional currencies over the long term.
The price of Bitcoin also sometimes moves with or in response to changes in the wider economy. For example, Bitcoin made impressive gains in 2020 while many national economies closed down and an unprecedented amount of fiat currency was printed in response to the COVID-19 pandemic.
Project developments and news are further drivers of price.
BTC’s worth is also subject to halving events. These scheduled adjustments, in which the number of Bitcoins awarded to miners for processing transactions is cut in half, take place every four years. Halving events have correlated with temporary rises in the Bitcoin price, though the rises could be explained by other factors.
Adoption by investors is another clear contributor to Bitcoin value. In 2020 and 2021, companies like MicroStrategy, Square, and Tesla made headlines by executing large Bitcoin purchases. In fact, a significant portion of all Bitcoins are held in the treasuries of public and private companies and ETF-like trusts. In addition to lowering the supply available on the open market, institutional Bitcoin investment could inspire confidence in the cryptocurrency and encourage more retail investment – which is another important driver of Bitcoin’s price.
All of these factors influence the Bitcoin price today.
Live Bitcoin Value and Market Cap
The Bitcoin price today varies from moment to moment, as it is dictated by the transactions of buyers and sellers on exchanges. The price is always expressed in dollars, euros, or other fiat currencies, as it currently requires the services of an exchange, or Bitcoin converter, to transform the cryptocurrency into spendable cash.
Given Bitcoin’s volatility, the live BTC value can change by a large amount in a very short time. The market cap of Bitcoin is equal to the price of Bitcoin multiplied by the number of BTC in circulation. The current Bitcoin price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Bitcoin is based on a market capitalization of EUR. Bitcoin has a circulating supply of . The highest recorded Bitcoin price is EUR. And the lowest recorded BTC price is EUR. The maximum supply is BTC.
Bitcoin Price FAQ
What Is the Highest Price of Bitcoin in EUR?
Bitcoin price history shows that BTC has recorded a peak value of EUR.
What Is the Lowest Price of Bitcoin in EUR?
Kriptomat data confirms that EUR is the lowest recorded Bitcoin value.
How Can I Buy Bitcoin?
There’s no need to consult an expert to tell you how to buy Bitcoin. It’s fast and easy to buy BTC at Kriptomat. Bitcoin is available for immediate purchase at the current BTC price quote of EUR. Current prices are always displayed in the BTC chart.
What Is the Current Price of Bitcoin in EUR?
Bitcoin is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of Bitcoin calculated?
You don’t need a BTC calculator to see Bitcoin’s price. The price is displayed on the Bitcoin price chart, and it is ultimately defined by transactions conducted at exchanges. When more people are buying Bitcoin than selling it, the price goes up, and when more are selling than buying, the price goes down. This is shown in any historical price of Bitcoin graph.
Why is the price of Bitcoin different on different cryptocurrency exchanges?
Bitcoin’s price is based purely on trading. There is no standard registry to determine the global cryptocurrency or Bitcoin price, so there is no official price for any exchange to display. The trading volume and liquidity are different at each exchange, and those differences affect the price.
When will the next halving happen?
The most recent halving occurred on 11 May 2020 and the next one is expected to happen in the spring of 2024.
When will the max supply be reached?
The number of Bitcoins minted per block to reward miners will continue to halve roughly every four years until a total of 21 million BTC has been minted. This is expected to happen around 2140.
What will Bitcoin be worth in the future?
Any number of things could affect the BTC price in the future, including regulatory changes, the rate of adoption by retail and institutional investors, and the rollout of scalability solutions. Future price predictions vary depending on the source.
The Bottom Line
The price of Bitcoin has been on a wild ride from the very start. Extreme volatility has led to periodic surges and crashes. The current value of Bitcoin is derived from the balance of supply and demand in the markets, and it constantly changes.
To get started with the most user-friendly trading experience on the internet, register at Kriptomat today. There is no better place to create a portfolio and explore the fascinating world of crypto.