BITCOIN -A BEGINNER'S GUIDE- III
15
The Creator/s of Bitcoin
Bitcoin was created by an anonymous individual or group of individuals known as Satoshi Nakamoto in 20091. Satoshi Nakamoto introduced the first cryptocurrency, Bitcoin, and the underlying blockchain technology, which has since revolutionized the financial industry and inspired the development of numerous other cryptocurrencies. Despite the significant impact of Bitcoin, the true identity of Satoshi Nakamoto remains unknown, and they have not been publicly active since 20102.
Bitcoin's price has been volatile since it was launched.
- Bitcoin's early years were characterized by limited popularity and occasional breaches of the double-digit threshold, but it soon returned to the single-digit price range. It wasn't until November 2013 that Bitcoin broke the $1,000 mark, briefly reaching $1,127.451.
- From 2015 to 2017, Bitcoin rose in value to reach the high three-digit range and managed to breach the $1,000 mark for the second time, reaching $1,008.4 in February 20172.
- In 2017, Bitcoin witnessed an unprecedented boom and crossed the $10,000 mark, briefly reaching $17,249.92 on December 12, 20172.
- The year 2018 saw Bitcoin's value in freefall for the most part of the year, only stabilizing towards the end of 2018 by reaching and maintaining its value well above the $3,000 mark2.
- From 2019 to 2021, Bitcoin rallied to newer heights and briefly reached its highest value of $67,617.02 on November 9, 20212.
- However, from November 2021, Bitcoin once again dipped in value2.
This historical price data illustrates the volatile nature of Bitcoin's value, with significant fluctuations and periods of both rapid growth and decline.
