It’s been an incredible year for Bitcoin! The cryptocurrency has skyrocketed in value, reaching over $687.896USD per coin at one point and making countless early investors incredibly wealthy (and many more latecomers wish they had bought it years ago).
If you were just getting into Bitcoin investing this year, though, you might wonder how much higher can it go?
Let’s take a look at the highest price Bitcoin has ever reached.
What does the highest price for bitcoin mean?
The highest price for bitcoin btc is not just a number, but it's an indicator of the rise and fall that has been experienced by many cryptocurrency investors.
This astronomical value is a testament to the power of blockchain technology and the value that it creates.
If you invest in bitcoin today, you are betting on what will happen to this volatile asset in the future. Will it go up? Down? Or sideways? Nobody knows.
All we know is that bitcoin will continue to be an integral part of our global economy - one way or another.
It's quite possible that the currency may experience its next low in 2019.
The two biggest events that could potentially drive BTC prices down again are Brexit and China-US trade war tariffs coming into full effect at the end of 2018.
As far as UK negotiations with the EU go, no matter how favorable they may turn out to be, there is always some level of uncertainty that needs to be taken into account when looking at investment opportunities.
In terms of Chinese-US trade wars, negotiations have only had a negligible impact on BTC price so far.
However, the agreement reached between President Trump and President Xi Jinping could quickly shift market sentiment about investing in Bitcoin if those agreements don't hold up over time.
Why did it take so long for Bitcoin to reach its peak?
The most important reason that it took so long was the lack of stability.
Volatility in bitcoin pricing is common, which makes it difficult to use as a currency.
As the cryptocurrency market matures and stabilizes, bitcoin is more likely to be accepted by merchants and investors who are weary of its volatility.
Another issue with BTC adoption is Blockchain scalability.
This refers to the size of blocks on the blockchain -- how many transactions can be processed at any given time.
It has been said that until this problem is resolved, bitcoin cannot reach its full potential.
Until then, we will have to rely on altcoins like Ethereum or Litecoin for day-to-day transactions like buying coffee or groceries.
Though not quite as valuable as Bitcoin, these coins still offer an opportunity for some speculative trading.
We also expect to see bitcoin's value skyrocket once more when Lightning Network goes live later this year.
LN was created to increase the number of transactions that could be processed per second and bring down transaction fees significantly.
In the meantime, there is always the hope that other cryptocurrencies will continue to see an increase in value - or even dethrone BTC from its first place spot! Who knows what the future holds?
What does the future of Bitcoin holds?
It will be interesting to see how the future of Bitcoin plays out.
There are no shortage of people who believe that it's only a matter of time before BTC reaches $100,000 USD.
Those who are more cautious are still hopeful that BTC will reach 10,000 USD within the next decade.
As we watch and wait, let's hope that Bitcoin continues to grow and change our world in positive ways.
How do you think that Bitcoin will do over the next year or two?
Let us know your thoughts in the comment section below! If you want to learn more about the history of Bitcoin, check out these articles on WikiHow!
You can also keep up with bitcoin's progress by following one of the various online forums.
For example, CoinDesk has an interactive forum where bitcoiners discuss different aspects of cryptocurrency trading.
It is also important to remember that cryptocurrencies aren't just limited to bitcoins. New coins come out regularly and have varying levels of success depending on their usefulness and adoption rates.
Ethereum and Litecoin have proven to be popular choices among those looking for alternatives to Bitcoin.
Some altcoins even use a new type of blockchain that doesn't require heavy mining or electrical costs like proof-of-work (PoW) blocks do.
These new coins offer solutions to problems faced by traditional blockchains such as storage space, transaction speed, and security issues like 51% attacks.
How close are we to reaching $100K per coin Bitcoin?
It is difficult to say when or if Bitcoin will reach $100K per coin.
Some analysts believe it could happen within the next year, while others are more conservative and say it will be five to six years before BTC reaches that value.
There are also those who believe it will never happen at all.
If a person believes that bitcoin is here to stay, then they should be in no rush to sell their coins at any given point in time since the value of them has nowhere but up to go.
What will happen if we hit $100K per coin?
If bitcoin continues to rise at this exponential rate, it is not unrealistic to think that the value of a bitcoin will reach $100,000 or even higher.
This is an astonishing thought because if that were to happen then the first time you invested would make you one of the richest people in history.
Bitcoin has ever reached its highest level
The date that bitcoin reached an all-time high was December 18, 2017.
This was the highest price for bitcoin btc. It took more than a decade of highs and lows before BTC reached this incredible value.
In January 2017, bitcoin reached the peak at 13,837 USD. This is a record to date in terms of percentage change over a one year period with 1,000% growth in value.
Bitcoin's market cap as of November 15th 2018 is 185 billion USD.
Let's take a look at how far Bitcoin has come since its inception on October 31st 2008 by Satoshi Nakamoto.
At the time, it only cost you $0.001 per bitcoin (BTC). If you were able to invest $100 back then into bitcoins, your investment would be worth $2.3 million USD as of today!
In just 10 years, bitcoin has grown exponentially in value.
We can see the steady incline in each subsequent graph of price changes over time - just imagine what will happen after another 10 years?
I am still optimistic about what lies ahead for Bitcoin because I believe its potential is unlimited. As long as we continue to see these huge fluctuations, there will always be investors looking to make money off of the swings
Is there another way to invest in the digital currency market other than buying bitcoins directly?
Yes, you can invest in the digital currency market by buying shares of Bitcoin Investment Trust (OTCQX: GBTC).
GBTC is an open-ended trust that invests exclusively in bitcoin and derives its value solely from the price of bitcoin.
Established in 2013, it's been generating impressive returns given recent appreciation of the cryptocurrency.
In fact, GBTC was up 3% on November 17th when bitcoin reached a record $6K USD/BTC exchange rate.
Buying shares of GBTC is one way to profit off of bitcoins without having to deal with any of the volatility associated with trading cryptocurrencies.
As a result, it might be worth considering whether or not this investment option suits your goals.
If you're simply looking for exposure to bitcoins and other cryptocurrencies at an affordable cost, then there are better ways than GBTC to achieve those results.
If instead you're looking to build wealth over time by owning digital currencies as part of a diversified portfolio alongside stocks, bonds, real estate investment trusts, precious metals or other classes of investments -- then buy shares of GBTC.
Alternatives to buying Bitcoins directly (other coins etc.)
There are plenty of ways to buy Bitcoins indirectly. If you don't want to go through the trouble of buying them directly with a bank account, there are other options.
One is to get someone else who already has Bitcoins to give you some.
Another is to use one of the online exchanges and buy them there, either with your bank account or by trading in another cryptocurrency that accepts it as payment like Ethereum.
A third option is to buy Bitcoins from people near you on LocalBitcoins.
Lastly, if none of these methods suit you then try mining coins yourself using a CPU or GPU. Mining coins is an excellent way to learn about cryptocurrencies and bitcoin at the same time.
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As an alternative to buying Bitcoins, they can also be mined by computers. By doing so, people not only make money but they also learn more about bitcoins and cryptocurrency.
How do I invest in Bitcoin?
Now that you know the highest price of bitcoin, you might be wondering how to invest in bitcoin. You can buy and sell bitcoin on a trading platform like Coinbase.
They offer apps for both iOS and Android so it's easy to buy and sell your coins anytime, anywhere.
Once you have some bitcoin, you'll want to transfer them off the exchange into your own personal wallet where they'll be more secure from hackers.
If this is confusing at first, don't worry!
We've got plenty of guides to help newbies understand everything about bitcoin.
Check out our FAQ page or watch this video to learn the basics of investing in bitcoin.
The date that bitcoin reached an all-time high: 68789.63 USD