Crypto Trends & News

Bitcoin turns 15: the most famous cryptocurrency is experiencing its best moment after two years of declines

The digital currency created by Satoshi Nakamoto celebrates its birthday with a price that exceeds $45,000; however, this economic value is still far from the all-time high of $69,000 that it reached in November 2021.


Bitcoin: 15-Year High After 2-Year Slump

Bitcoin celebrates its 15th birthday today in style. Recently, the price of this cryptocurrency exceeded $45,000 (a little more than approximately €41,000) for the first time since April 2022, thanks to the anticipated cycle change in monetary policy and the expectation of the upcoming approval of an ETF of Bitcoin—that is, an exchange-traded fund that tracks the price of the aforementioned digital currency—by the United States Securities and Exchange Commission (SEC).

However, even though the world’s largest cryptocurrency has started the year strongly, Bitcoin is still quite far from the all-time high of $69,000 (approximately 63,000 Euros) that it reached in November 2021. However, it is important to mention that since its birth, the value of this digital currency has risen and fallen due to supply and demand.

But to be specific, the history of the Bitcoin price begins on January 3, 2009, a year in which Satoshi Nakamoto created a decentralized cryptocurrency that began to function in the first peer-to-peer network based on said protocol. In addition, the launch of open-source software also led to the creation of the first Bitcoins and the beginning of their mining.

Regarding the first transactions of the currency, these took place between several Internet users on the Bitcointalk forum, with a notable transaction of 10,000 Bitcoins used to indirectly buy two pizzas delivered by Papa John’s. But over time, this cryptocurrency is used to transfer and store value, to make purchases and payments, and even to save.

On the other hand, two years after its birth, starting in 2011, some organizations began to accept donations in Bitcoins, and merchants who operated on the Internet began to accept these currencies as a means of payment. Since that moment, its growth has been unstoppable, although unfortunately, throughout these years, new cryptocurrencies have emerged that compete with Bitcoin and cause its value to fluctuate constantly.

Is it profitable to invest in Bitcoins in 2024?

Félix Fuertes, CEO of Training and Investment, an expert in cryptocurrencies, believes in 20 minutes that the commitment to Bitcoin in 2024 is a safe value for investors and that “without a doubt” it will reach its all-time high after its spectacular 2023: “Currently, there are only 20% of the available supply of Bitcoins for sale and an important part of them is in the hands of market makers and exchanges (which means that they are moving but not necessarily with a sales objective), therefore, if we consider “the possibilities of demand that exist in the United States through ETFs and how well China’s expansive monetary policy is doing for Bitcoin, the demand prospects are very high about the available supply.”

But on the other side of the coin, Selva Orejón, professor at EAE Business School and CEO of branding, maintains her doubts “given the highly volatile and speculative nature of the cryptocurrency market.” She added that “the cryptocurrency market is influenced by a variety of global factors and can change rapidly.

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