Bitcoin is a new generation sensation and its price has already surged magnificently in the past few hours today. It is obvious that this cryptographic currency is definitely going to achieve levels beyond the crucial resistance flashing bullish signals in the coming days.

However, the market bulls are currently utilizing their accumulated strength. As a result, the upswing of BTC price may prevail for long-withstanding bearish pressure.

The BTC miners are going to continue to remain in profit-flashing bullish signals. But the rise in the reserve balance of several leading cryptocurrency exchanges could be a matter of concern.

Since the day it was created by the anonymous Satoshi Nakamoto, BTC is experiencing sudden highs and lows. However, we have collected a quantitative data from various sources for you guys to see how far the coin has come till date.

2011–2012

Although BTC was created in 2008, the transactions did not take place until 2011. It all started with a pizza purchase in 2011 when a programmer called Laszlo Hanyecz got two Papa John’s pizzas for 10,000 BTCs. That pizza is still called the world’s most expensive pizza.

In 2011, the price of BTC started at $0.30, and it has risen to $5.27 towards the end of the year. Again the price rose to $31.50 on 8 June 2011 to see a minimum of $11.00 within just a month. The next month it fell to $7.80, and later to $4.77.

In 2012, the prices started at $5.27, growing to a higher number to $13.30 for the year and by 9 January, the price had again fallen to $7.38. However, the worst was yet to come as the coin crashed by 49% after that to become as cheap as $3.80 over the next 16 days.

The price then again rose to $16.41 on 17 August. Over the next three day it fell by 57% to $7.10.

2013–2016

In 2013, BTC prices started its journey from $13.30 and rose to a maximum of $770 by 1 January 2014. In March 2013, the price once again dropped by 23% to $37 before recovering to the previous level following hours. It has rose to $259 on 10 April.

In 2014, prices started as high as $770 which fell to $314 for the year. But it again rose to $434 in 2015 soon after the Wikimedia Foundation started accepting donations of Bitcoin. Towards the end of 2016, prices rose and climbed up to $998.

2017–2019

The closing price of BTC was $998 in 2016 and it started its journey with that pace in 2017 as well. When the year ended, BTC reached its all-time high of $19,783.06.

But the price started falling again after China banned trading in Bitcoin. The percentage of Bitcoin trading in the Chinese provinces fell from over 90% in September 2017 to less than 1% in June 2018. June 2019 has regained the confidence of BTC by crossing its $13,000 limit.

2020–present

2020 had been a year full of surprises for Bitcoin too. On 13 March 2020, its price fell below $4,000 during a broad market selloff. This price drop happened soon after trading above $10,000 in February 2020. In August 2020, several tech giants such as MicroStrategy, Square, Inc., PayPal, etc. started investing in Bitcoin and On 30 November 2020, the bitcoin value reached a new all-time high of $19,860, topping the previous high of December 2017.

On 19 January 2021, Elon Musk placed the handle #Bitcoin in his Twitter profile, which pushed the BTC price to soar as high as $44,141. But again, on 12 May 2021, he said he would no longer take BTC due to its mining concerns. This step of Musk resulted in a massive price drop for Bitcoin around 12% on 13 May. During mid-2022 the price of Bitcoin fell below $20,000.

Bitcoin Price Prediction for 2023

People say that none can actually predict the price of this revolutionary cryptocurrency called Bitcoin. Currently its price has been undergoing massive recovery and has intensified heavily as the 2023 Q1 close is approaching. To be specific, BTC price has surged by more than 70% since the beginning of 2023. Now the coin flashes bullish signals to regain its lost levels in the coming time. The price would likely show a decent upswing in Q2 of this year which may include a couple of bearish pullbacks. 

There are rumours that the second half of 2023 is would be more elevated as BTC price may have the aim to hit $50,000. Some speculators also believe that the price may also reach beyond $32,000 to $35,000 by the end of Q3. Furthermore, it’s just the matter of time and we can just wait to see how far this coin can go.

Should you invest in Bitcoin in 2023?

Bitcoin has a pretty well potentiality to go up in the future. As the first crypto in the world, it holds a decade-long history in trade. It has experienced multiple bearish markets and manifested magnificent recoveries.

History is a proof that the coin fights back with double energy to form new highs whenever it has been pushed to its bottom. However, it is advisable always that you need to carry out extensive research before jumping in. It’s important to understand each detail about the core fundamentals of the coin.

Is Bitcoin a safe investment?

Being a decentralized currency, Bitcoin has become stringent throughout its journey till 2023. Hence you can consider it as a safe investment. But, do your homework before starting your journey and try to get a close observation of chart patterns over the years.