Bitcoin is known as the top-traded crypto asset with the biggest trade volume and capitalization. The creator of the coins is still unknown. Bitcoin used to set the trend in the market – when its rate boosts, the whole market grows and develops, and when the rate of BTC drops, it pulls the entire market down.
The history of Bitcoin price fluctuations has its ups and downs:
- In its early years, the asset did not receive popularity, but in November 2023, the rate reached the mark of $1000 for the first time
- In the same month, the coin’s rate reached $1,127
- In 2015, the cost for one coin was reduced to $172
- 2015 – 2017 the asset once again crossed the mark of $1000
- 2017 was the year of the BTC boom – the asset crossed $10 000
- In December 2017, BTC price was fixed at the level of $17,249
- 2018 was the year of the BTC decline – the rate maintained around $3000
- New height was fixed in 2019 – $67,617.
November 2021 was the time of the BTC crash. As of January 2023, the BTC USDT pair is traded at $18,795. The market drop was caused by many factors, the main of which are increasing inflation and FED rates, the looming crisis, and the large-scale war, which affects all the spheres of business and markets.
Despite the bearish market trend, investors hold Bitcoins waiting for the next bull trend, which will definitely begin. Nobody knows when exactly it will happen. It is a good idea to buy BTC as long as its value is low and hold this asset long term.
If you want to invest in the most popular crypto asset, make sure you use a reliable platform to ensure your funds’ safety Bitcoin VS Blockchain. Use, for example, the WhiteBIT exchange. It has official registration and license. The platform allows users to convert crypto-fiat pairs. To exchange USDT to BTC, you should register an account and pass verification, add your bank card, and, using the WhiteBIT converter, exchange fiat money for BTC.