Have you ever wondered how much is a bitcoin worth? The price of Bitcoin mainly depends on when you buy it. Bitcoin prices are changing almost every second. According to the data of each exchange, the price of Bitcoin today is $ 16,671.6. The value of Bitcoin is determined by many different features. Frankly speaking, this may confuse ordinary Internet users. This article will explore issues related to the price of Bitcoin.

Costs related to buying and selling Bitcoin

Be sure to remember that buying Bitcoin and other cryptocurrencies requires payment. Each exchange is different, and some exchanges may charge more costs than other exchanges. Nevertheless, it is important to understand the main expenses related to buying and selling Bitcoin.

transaction fee

Bitcoin's blockchain network can maintain hundreds of thousands of transactions per day. However, as more and more people conduct Bitcoin transactions, the system becomes more and more crowded.

Therefore, you must handle your transaction payment in time. In early 2021, Bitcoin trading costs reached a record high of $ 59 per transaction.

Exchange fee

Most cryptocurrency exchanges charge you every time you buy and sell Bitcoin. Some exchanges may charge a uniform rate, and other exchanges will charge you a certain percentage of transaction fees. Sometimes, the percentage is 0.05%of your total purchase or sales.

Wallet fees

Every time you extract funds from the bank account and deposit it into a digital wallet, some exchanges will charge you, and vice versa. In some cases, you may even limit the amount you can withdraw at a given time.

tax

Although cryptocurrencies are quite new innovations, the old rules are still applicable. If you generate income through the day transactions of Bitcoin or other cryptocurrencies, you will have to pay a full amount of tax on your income, that is, capital gains tax. Remember, if you buy and sell assets within the same year, the capital gains tax will be higher, and if you hold bitcoin for a long time, the tax will be much lower.

What factors affect the price of Bitcoin?

As a decentralized digital commodity, the price of Bitcoin is mainly determined by the purchase of multiple exchanges and the sum of the sum of selling orders.

Bitcoin is constantly traded on many different exchanges. The price was discovered by the trading settlement price by the trading settlement price. It can be said that the "market" determines the price of Bitcoin.

Of course, many external factors may affect the price that people are willing to pay for Bitcoin.

1. Emotion

For any assets, the overall market emotions will affect the current and future price trends. This often occurs.

What happens often is that as more and more people are more and more optimistic about something, the price will continue to rise until everyone thinks it will never fall again. Then at some time, things changed, and emotions began to change in the other direction. Once most people think that the price will never rise, it usually indicates that the price is close to the bottom.

This is why CNN has something called "fear and greedy index". The index uses seven indicators to measure the emotions of the entire financial market. The indicators measured by these indicators include stock volatility, the ratio of options, and the number of stocks that create new highs and the number of new lows.

2. Mining

Bitcoin mining also affects the price of Bitcoin. Miners are a powerful computer for network transactions, and they are the source of newly cast Bitcoin.

As miners created and accumulated new coins, what they tend to do as a whole will have a great impact on market prices. Miners must sell some Bitcoin to pay electricity bills and maintenance costs. But they choose how to deal with the remaining tokens will affect the price.

For example, when the expected Bitcoin's future price is higher than the present, they can choose to hold most Bitcoin to reduce the overall supply of the exchange. This will create support for price.

On the other hand, if the miners believe that the price of Bitcoin will fall, or they need cash for some reason today, they can sell their coins, increase supply and may lower the price.

3. Monetary supply

Some people may argue that the primary factor affecting the price of Bitcoin is the increase in currency supply. When the central bank prints more money, the price of Bitcoin will often rise, which is almost proportional to the number of new currencies created.

This is part of the price supply and demand factors of Bitcoin. More and more US dollars (or euro, yen, peso, etc.) finally chase the decreased Bitcoin supply. The new supply of legal currencies continues to increase, and the new supply of Bitcoin decreases by half every 4 years (this process is called Bitcoin half).

4. Network effect

Some people say that the real value of Bitcoin lies in the Bitcoin network. In other words, how many people are using Bitcoin.

A rough analogy is a social media network. We tend to measure the value of social networks through the number of users and their activity on the platform. Facebook and Instagram each have more than 1 billion users, of which at least half of them log in to Instagram every day. This is the main reason why people think these networks are valuable.

With Bitcoin, the more people who create cryptocurrency wallets, convert legal currencies into Bitcoin, and spend or store these coins, the more valuable Bitcoin will become. As the price of Bitcoin rises, more and more people tend to join the network, which may form a positive feedback cycle.

How to buy bitcoin today?

Today, it is easier to buy assets because of using a number of brokers across the country. Each agent provides their own encryption asset trading platforms, and they provide different interest rates for interested people.

To open an account and trade Bitcoin, you must be at a time of 18 years old, have active CPF or CNPJ, maintain a good relationship with IRS, and have effective email addresses that can access your account for free. In addition to various exchanges, some banks have also begun to provide platforms for buying and selling cryptocurrencies, so I suggest you see your bank application and see if there are options.

Bitcoin annual price history

Bitcoin price in 2009: Start

Price of 1 bitcoin in 2009: $ 0

On October 31, 2008, anonymous individuals or groups named Satoshi Nakamoto released Bitcoin White Paper. This article introduces a point -to -point digital cash system based on a new distributed ledger technology called a blockchain.

Then, on January 3, 2009, the Bitcoin network launched the excavation of the creation block, which caused the first set of transactions to start the blockchain. This block contains a text comment, which is: "The Minister of Finance is about to provide a second rescue of the bank." This quotes an article on the London Times from 2008 to 2009. And the government has received trillions of rescue funds. This incident helps marked the original price of Bitcoin to $ 0.

For this reason and other reasons, many people suspect that Nakamoto has created Bitcoin at least to a certain extent to respond to the development mode of the incidents in those years.

Bitcoin price in 2011: The Surge PT. 1

Price of 1 bitcoin in 2011: $ 1 -$ 30

The price of Bitcoin in 2009 was only slightly higher than zero. About two years later, Bitcoin began to use Bitcoin. Bitcoin prices soared sharply for the first time.

In 2011, the Electronic Frontier Foundation (EFF) accepted the BTC donation for several months, but quickly withdrew due to the lack of legal currency framework.

In February 2011, the BTC reached $ 1.00 for the first time, achieving parity with the US dollar. A few months later, the price of BTC reached $ 10, and then quickly soared to $ 30 on the MT. GOX exchange. Bitcoin rose 100 times from the start price of about $ 0.30 this year.

However, by the end of the year, the price of Bitcoin was less than $ 5. No one can accurately say why the price performs so, especially when technology is so new. It may be the launch of a branch of Litecoin, a branch of Bitcoin blockchain in 2011 -other forms of cryptocurrencies also began to appear -marked more intense competition.

Of course, in 2012, Bitcoin experienced the first halving, from 50 coins rewards for mining BTC to 25 coins. This laid the foundation for its rapid growth. However, the model of 80% to 90% from historical high -level recovery will continue to be repeated in the future, even if more Bitcoin liquidity will appear.

2013 bitcoin price: decisive year

Price of 1 Bitcoin in 2013: $ 13-$ 1,100

In 2013, EFF began to accept Bitcoin again, as far as a percentage increase was concerned, this is the strongest year in Bitcoin's price history. The cryptocurrency rose 6,600%.

The price of Bitcoin began at the beginning of the year at the beginning of the year, rose to nearly 250 US dollars in April, and then revised more than 50%. The price was consolidated for about six months, and a historic rebound occurred again until November and December, when the price reached a peak of $ 1,100.

In this bull market, Bitcoin's market value exceeded $ 1 billion for the first time. The world's first Bitcoin ATM machine is also installed in Vancouver, allowing people to exchange cash into cryptocurrencies.

After more than three years, the price of Bitcoin reached $ 1,000 again. The price of Bitcoin in 2013 fell from -85% of the historical high to the bottom.

In this fluctuation, people's interest in cryptocurrencies surged, and dog coins were one of the most famous tokens that appeared at the time. Although it is considered a coin, the dog currency still exists.

Bitcoin price from 2014 to 2016: Restriction period

Although the password universe has quietly exploded during this time, technological innovation allows transferred from workload to less heavy equity certificates, as well as the emergence of smart contracts and the true foundation of decentralized finance-Bitcoin is relatively quiet.

Most of the time during this time, the price stabilized in the range of $ 200 to $ 400, but as the fell in the second half of 2016 began to rise -and quickly reached five digits within one year after half, And reached a peak of nearly $ 20,000 in December 2017. look carefully.

Bitcoin price of 2017-2019: The Surge PT. 2

1 Bitcoin price of 2017-2019: $ 1,100-$ 20,000

Following the halving Bitcoin in July 2016, the price of Bitcoin in 2017 exceeded the $ 1,100 mark in January, setting a record high at the time. By December, the price soared to nearly $ 20,000. This has risen 20 times in less than 12 months, and then predictable declines appeared in 2018 and 2019. Bitcoin can not see another $ 20,000 until the end of 2020.

Like the rise in 2013, the rebound in 2017 took about one year after halving. What is different this time is that the public has learned more about cryptocurrencies for the first time. Mainstream news media began to report stories related to Bitcoin and other cryptocurrencies. This price rising to a large extent reflects the first entry into the market for retail investors.

The point of view about Bitcoin from thinking it is a scam to the greatest thing in history. For believers, this is the first opportunity to learn how to invest in Bitcoin, but there is no doubt that the influx of the interested in retail investors in the cryptocurrency market has largely led to comprehensive fluctuations.

Bitcoin price in 2020: After the third halved

By the end of 2019, cryptocurrency feeding frenzy is running smoothly, and hundreds of new tokes on the market. By January 3, 2020, the price of Bitcoin was US $ 7,347.49, and as the fell in May 2020, the approaching rose steadily, and the month soared to more than $ 9,100, rising nearly 25%in just a few months.

But this is just the beginning of the rapid rise and decline of BTC. Few people will forget, and many people are related to the popular popularity in a stage of the Bitcoin story. From 2020 to 2021 (longer in some cases), millions of people around the world are restricted at home, and online speculation has become a common phenomenon. One of the branches may be the largest Bitcoin bull market so far.

Bitcoin price of 2021-2022: epic ups and downs

In August 2021, the price of Bitcoin hovered around $ 46,000. By November 2021, BTC reached a record high of more than $ 68,500.

However, by the end of 2021, the Bitcoin hash rate (a factors that are considered to have some correlation with Bitcoin prices) plummeted. Part of the reason for this situation is that China requires its citizens to close Bitcoin mining business. The country used to have a large part of the mining node of the network. As a result, these computers had to go offline. Many people believe that the decline in mining capabilities is a key factor affecting Bitcoin prices.

However, politicians and regulators also expressed concern about the future of crypto laws and regulations, which exacerbated the universal emotions of encrypted experts referred to as FUD (fear, uncertainty, and doubt) -this is one of the many encrypted slang in the current widely used.

In any case, as of July 15, 2022, the price of BTC can be observed through several different perspectives. People may notice that Bitcoin's current price is about $ 20,000, which is about 70%lower than its historical high. Or in the long run, it can be traced back to 2009 and calculated its amazing growth in just 13 years.

The above content introduces how much Bitcoin's price is today. For whether it is worth investing in Bitcoin, you need to conduct more research to decide whether to buy, sell or hold Bitcoin. Bitcoin is a complicated cryptocurrency. Some people think it may disrupt the global financial system, and some critics believe that Bitcoin is essentially inefficient. These people also believe that Bitcoin is unstable, it is easy to be prohibited, and it is potentially dangerous because it may encourage criminal acts.