Exploring Historical Peaks of Bitcoin's Valuation
Intro
Bitcoin, a name that has become synonymous with the concept of cryptocurrency, has had a turbulent yet fascinating journey since its inception in 2009. The peaks and valleys of its price chart tell a compelling tale not only of speculative investment but also reflect broader socio-economic dynamics. Investors, enthusiasts, students, and analysts continuously dissect these price movements, seeking to understand the underlying factors that contribute to its surges in value and subsequent crashes. As we embark on this exploration of Bitcoinâs peak prices, we will investigate historical milestones that defined its market trajectory while considering technological advancements and macroeconomic influences along the way.
This article presents a thorough examination that combines in-depth market analysis with lessons learned from Bitcoin's rollercoaster ride. From the early days serving as a digital alternative to fiat currencies to becoming a mainstream asset class, Bitcoin's evolution offers insights into future market trends and investment strategies.
To help readers navigate this complex landscape, we will identify crucial trends, highlight how emerging technologies continue to shape Bitcoinâs future, and offer strategies for successful investing amidst market volatility.
Key Trends in Cryptocurrency
Current Market Dynamics
Bitcoinâs price trends emerge from a confluence of factors, including market psychology, regulatory developments, and technological enhancements. Since breaking the $1,000 mark for the first time in late 2013, Bitcoin has experienced multiple boom and bust cycles. The influence of institutional investors has become increasingly prominent, as entities like MicroStrategy and Tesla have added Bitcoin to their balance sheets.
When we take a closer look at market dynamics, several key patterns emerge:
- Market Sentiment: Speculation around Bitcoin often feeds off current events, news cycles, and social media trends. For instance, events like the 2017 crypto frenzy were fueled by social media discussion and hype.
- Regulatory Landscape: Government regulations have played a dual role. They can either instill confidence or incite panic, significantly impacting investment behavior.
- Adoption Rates: The more businesses and institutions that accept Bitcoin, the greater its perceived legitimacy and value. Notable examples include the inclusion of Bitcoin in payment options by firms like PayPal and Square.
"Bitcoin's journey has reflected changes in public sentiment, investor psychology, and even government policy, showcasing a deep interconnection between technology and society."
These dynamics continue to evolve. The shift towards a digital economy has allowed Bitcoin to thrive, transforming it from a niche curiosity to a potential store of value akin to gold.
Emerging Technologies and Innovations
As the cryptocurrency landscape evolves, technological advancements play a pivotal role in influencing Bitcoinâs price behavior. From the introduction of the Lightning Network aimed at improving transaction speed to developments in Blockchain scalability, these innovations create both opportunities and challenges for Bitcoin:
- Layer 2 Solutions: Technologies like the Lightning Network improve transaction efficiency, making Bitcoin more user-friendly.
- Smart Contracts: While primarily associated with platforms like Ethereum, discussions around smart contracts integrated into Bitcoin could expand its use cases and attract a broader investor base.
- Quantum Computing: The potential rise of quantum computing poses both risks and opportunities. On one hand, it challenges the cryptographic security underlying Bitcoin; on the other, it could facilitate more advanced algorithms for transaction processing.
The impact of these innovations is significant as they can lead to increased adoption and shifting perceptions of Bitcoin as merely a speculative asset.
Strategies for Successful Investing
Risk Management Techniques
In a landscape as volatile as Bitcoinâs, employing solid risk management strategies is crucial for investors. Investors must recognize and mitigate risks associated with price swings, regulatory changes, and market sentiment shifts:
- Set Clear Goals: Establishing defined investment goals allows individuals to make decisions based on strategy rather than emotion.
- Utilize Stop-Loss Orders: Implementing stop-loss orders can protect against significant losses in a volatile market.
- Stay Informed: Keeping abreast of market news and regulatory developments promotes informed decision-making.
Diversification Approaches
Diversification remains a key principle in investment strategy. By spreading investments across different assets, one can mitigate risks and increase the potential for returns:
- Mix Asset Classes: Investing in a mix of cryptocurrencies, stocks, and traditional assets can balance risk and reward.
- Invest in Technology Stocks: Companies focused on Blockchain technology can provide indirect exposure to Bitcoin, aligning with its growth potential.
- Consider Alternative Cryptocurrencies: Exploring altcoins with unique value propositions can diversify your portfolio and reduce reliance on Bitcoin alone.
As we continue to dissect the trends and strategies surrounding Bitcoin's historic peaks, understanding these elements is vital for anyone looking to navigate the intricate world of cryptocurrency investment.
Bitcoin: The Genesis of a Digital Asset
The rise of Bitcoin has marked a pivotal moment not just in the realm of finance, but across technological, philosophical, and economic spheres. This digital currency stands as a testament to a conceptual shift â one that challenges traditional monetary systems and practices. Understanding this genesis is crucial for anyone interested in the evolution of digital assets. What Bitcoin represents goes beyond monetary value; it embodies a vision of decentralization, peer-to-peer transaction capabilities, and a financial liberation from centralized institutions. As we unpack the historical milestones of Bitcoin, it is essential to reflect on the significance of its original framework and motivations.
The Conceptual Framework of Bitcoin
Bitcoin was born out of a necessity for a trusted and efficient system without relying on traditional banks. The framework laid out by its founder, Satoshi Nakamoto, introduced a concept where security and verification happened through cryptography and consensus among network participants instead of through a trusted third party.
The real genius of Bitcoin lies in its underlying technology â the blockchain. This decentralized ledger not only records transactions but also creates a transparent and immutable history of each coin's movement. As people began to uncover the potential of this ledger, Bitcoin morphed from a niche digital curiosity into a formidable asset class. Investors, enthusiasts, and even governments quickly recognized the implications for economic systems globally.
Using simple terms, the conceptual framework can be boiled down to some key points:
- Decentralization: No single entity controls the currency, making it resistant to government interference.
- Security: Transactions are secured through cryptographic measuringâfar more reliable than traditional financial systems.
- Limited Supply: Unlike fiat currencies, Bitcoinâs total supply is capped at 21 million, birthing its status as
The Path to Prominence: Early Price Movements
The journey of Bitcoin from a niche experiment to a household name is nothing short of remarkable. This section sheds light on the critical early price movements of Bitcoin, showcasing how these initial fluctuations set the stage for its eventual acceptance as a legitimate asset class. Understanding this path is vital for investors, analysts, and enthusiasts alike as it provides context for current market dynamics and the evolution of cryptocurrency.
Initial Valuations and Market Reactions
Bitcoin's initial exit from the realm of theory into practice gave rise to a price that was as unpredictable as the technology behind it. At first, values were nominal; just a few cents in the early days, a reflection of the sheer novelty of the concept. As the decentralized currency began to intrigue a few early adopters, small transactions became the norm, pushing its price upwards slowly.
The community's reactions were a cocktail of excitement and skepticism. A buzz began to grow, as individuals recognized the potential for Bitcoin to disrupt traditional financial systems. For instance, in 2010, the infamous purchase of two pizzas for 10,000 Bitcoins marked an iconic moment in the history, solidifying a cult following. However, even with such fervor, the price volatility was almost comical. Day to day, it felt more like a roller coaster than a stable investment.
A few early exchanges were crucial in this period. For example, the launch of Mt. Gox in 2010 provided a platform that allowed more people to engage with Bitcoin, facilitating both speculation and broader market participation. This raised the stakes considerably as the price began to rise more dramatically in response to increasing interest, though erratic trading led to wild fluctuations.
The First Major Surge
The turning point occurred in late 2013, when Bitcoin reached its first significant peak of over $1,100. This surge was not merely serendipitous; it was a concoction of various factors swirling together. Key among these was an explosion of media interest that fed into a burgeoning wave of speculation.
Many investors, driven by FOMO, jumped into the fray, encouraged by narratives asserting Bitcoin could dethrone traditional currency. Major investment firms began to take notice, and some even started dabbling in Bits. However, alongside the excitement, regulatory scrutiny mounted as governments started to ponder how to categorize and regulate this new form of money. The Chinese government's ban on financial institutions dealing in Bitcoin prompted a swift price drop, showcasing the fragility of market sentiments.
Through all this chaos, the rally of late 2013 was a double-edged sword. It was exhilarating, but it also served as a wake-up call, highlighting the marketâs susceptibility to external influences. Investors learned that while Bitcoin held potential, it also came with considerable risksâa sentiment that still resonates today.
This period laid crucial groundwork for understanding Bitcoin's value in the broader financial landscape, reinforcing the importance of market reactions and broader socio-economic factors at play. With the thrilling ups and downs, Bitcoin was no longer just a tech experiment; it was being sculpted into a serious contender in the investment world.
"Bitcoin was the spark that ignited a revolution in financial systems, but like any fire, it could burn both brightly and unpredictably."
As the dust settled after this initial surge, Bitcoin's resilience was about to be put to the ultimate test in the years to come.
Noteworthy Price Peaks: Analysis and Context
When we talk about Bitcoin's price peaks, we touch on pivotal moments that not only shaped the cryptocurrency's trajectory but also influenced the broader market's perception of digital assets. These peaks punch holes in the narrative that cryptocurrencies are merely speculative bubbles, showcasing Bitcoinâs evolution through the lens of economic, technological, and social dynamics.
Understanding these price spikes provides insights into investor behavior, market sentiment, and the external pressures that drive buying or selling decisions. By examining significant price movements, one can grasp the fluctuating demand patterns and the factors contributing to these variations.
The peaks serve as barometers, reflecting the health of the cryptocurrency market and hinting at what future investors might glean about potential investments.
The Price Spike
In 2013, Bitcoin experienced a watershed moment, with its price soaring from around $12 in January to an astronomical $1,200 by December. This meteoric rise was propelled by the complexities of market sentiment, news cycles, and increasing media coverage.
As the fascination with Bitcoin grew, so did the number of participants entering the market. Factors such as the first major exchange, Mt. Gox, facilitated trading on an unprecedented scale. Additionally, geopolitical events, like the Cyprus banking crisis, led individuals to seek refuge in Bitcoin, viewing it as a safe haven asset. Where banks seemed unreliable, Bitcoin offered a glimmer of hope.
This spike wasnât without its pitfalls, however. As excitement mounted and prices became disconnected from inherent value, it culminated in a sharp sell-off, sending prices plummeting and leaving many investors scrambling. The lesson from this peak was clear: irrational exuberance can lead to sharp corrections, and caution must prevail even in bullish phases.
Bitcoin's Bull Run of
Fast forward to 2017, when Bitcoin set the world ablaze with a historic bull run that saw its price escalate from roughly $1,000 in January to nearly $20,000 by December. This was not just a simple surge; it represented a shift in how Bitcoin was perceived globally. Major financial news outlets began covering Bitcoin not simply as a curiosity, but as a viable asset class that deserved institutional attention.
Key factors fueling this bull run included heightened speculation, the introduction of Bitcoin futures by major exchanges like the Chicago Mercantile Exchange, and an influx of retail investors perceiving Bitcoin as a revolutionary technology. The narrative around Bitcoin transitioned from âa tech experimentâ to âthe future of money.â
However, these peaks were often followed by dramatic crashes. The exuberance of 2017 was cut short by regulatory fears and the marketâs own excesses, resulting in a severe slowdown in early 2018.
Reaching New Heights: 's Records
The year 2021 ushered Bitcoin into uncharted territory, with the asset venturing past its previous all-time high. Prices climbed to nearly $65,000 in April, driven by a variety of catalysts.
Institutional adoption played a critical role this time around; companies like Tesla announced significant investments in Bitcoin, and businesses began accepting it as a form of payment. This newfound legitimacy sparked a renewed interest among both institutional and retail investors alike.
At the same time, the era of decentralized finance (DeFi) and non-fungible tokens (NFTs) emerged, expanding the cryptocurrency ecosystem and capturing the interest of millions.
However, just as in the past, optimism was met with skepticism and high volatility. The price eventually corrected with a steep downturn later in 2021, prompting many to reflect on the likelihood that history might repeat itself. This deeper awareness of Bitcoinâs cyclical nature emphasizes the significance of understanding the narratives attached to each peak.
Investors and enthusiasts alike can draw cautionary tales from these significant peaks, reminding them that markets are often driven by emotion rather than pure rationality. With ever-evolving landscapes, Bitcoin remains a fascinating case study on how socio-economic dynamics intertwine with financial speculation.
Driving Forces Behind Price Changes
Understanding the driving forces behind Bitcoin's price changes is crucial for anyone looking to grasp the dynamics of this digital asset. Bitcoin's market is not isolated; rather, it operates within a complex interplay of various factors that have not only influenced its historical peaks but also set the tone for future movements. In this section, we delve into the underlying elements that shape Bitcoin's valuation, giving insights that can guide investors and enthusiasts alike.
Market Sentiment and Speculation
Market sentiment plays a pivotal role in determining Bitcoin's price fluctuations. When individuals are optimistic about Bitcoin's potential, demand swells, driving prices upward. Conversely, negative sentiment can prompt panic selling, leading to sharp declines.
For instance, during the run-up to its peak in 2017, many traders were driven by the fear of missing out (FOMO). This collective behavior created a feedback loop that pushed prices to new heights. Itâs like a snowball effect; as more buyers entered the market, the price accelerated further, attracting even more participants. Here are some insights on sentiment and speculation:
- Media Influence: News plays a massive role in shaping public opinion. Positive headlines can ignite enthusiasm, while negative reports can cause hesitation or withdrawal from the market.
- Social Media Buzz: Platforms like Reddit and Twitter have become hotbeds for speculation. When a trending discussion emerges around Bitcoin, it can rapidly sway public opinion, influencing buying or selling decisions.
"Market sentiment acts like a double-edged sword; it can propel prices to unimaginable heights or bring them crashing down just as swiftly."
Government Regulations and Responses
Regulatory actions and the responses from governments around the world significantly affect Bitcoin's position in the market. As Bitcoin gained traction, governments began to notice its implications for monetary policy, taxation, and financial security.
For example, when China announced crackdowns on cryptocurrency mining and transactions, Bitcoin witnessed immediate downturns. Investors feared regulatory overreach, causing widespread sell-offs. On the flip side, favorable regulatory frameworks could lift the market, as seen in countries that embraced cryptocurrencies by creating comprehensive guides or laws to manage its use and trading.
- Legal Frameworks: How laws are shaped can either facilitate growth or stifle innovation within the Bitcoin ecosystem. The clarity in regulations can encourage institutional investments while ambiguity can lead to reluctance.
- Tax Implications: Tax treatments greatly influence how people hold or trade Bitcoin. Unexpected tax announcements can abruptly affect market dynamics, sometimes leading to increased volatility.
Technological Advancements
Technological factors are a cornerstone in analyzing Bitcoinâs price movements. From the introduction of the Lightning Network to scalability enhancements, every innovation has implications for Bitcoin's usability and value.
The advancements not only improve transaction efficiency but also bolster security, leading to greater consumer confidence. Key technological influences include:
- Network Upgrades: Each successful upgrade or hard fork can lead to renewed interest in Bitcoin, influencing valuations positively due to enhanced features and better user experience.
- Interoperability: The integration with other cryptocurrencies and blockchain platforms allows Bitcoin to expand its utility, making it more attractive as an investment.
In summary, the forces driving Bitcoin's price are multifaceted and deeply interconnected. Recognizing how market sentiment, regulations, and technological developments contribute to price dynamics can empower investors to make informed decisions. As we proceed, the following sections will examine how these elements interplay with external variables, shaping what we see on the charts.
The Impact of External Factors
Understanding the price trajectory of Bitcoin cannot happen in isolation from external forces. The landscape of digital currencies is often shaped by a multitude of influences ranging from the global economy to unforeseen crises. Thus, examining these external factors is pivotal in grasping the essence of Bitcoin's fluctuations and peaks. Essentially, the market for Bitcoin does not operate in a vacuum; rather, it reflects the broader economic climate and societal sentiment. For investors and analysts alike, seeing how these elements interact can offer invaluable insights not just for the current moment but also for predicting future trends.
Global Economic Conditions
The state of the global economy wields significant influence over Bitcoinâs price dynamics. Economic stability or turmoil can trickle down to affect investor confidence in digital assets. For instance, during periods of economic uncertainty or recession, Bitcoin is often perceived as a speculative investment or a potential safe haven.
- Consider the 2008 financial crisis, which sparked a surge in interest for Bitcoin as a new model of currency, dissociated from traditional banks.
- High inflation rates in various countries can drive individuals toward Bitcoin, as they seek to protect their wealth from depreciation.
This interplay means that strong or weak economic indicators can quickly sway the price of Bitcoin. A robust stock market could suggest that investors have less appetite for riskier assets, including cryptocurrencies. Conversely, a dip in traditional markets could lead to a spike in Bitcoin as many shift their funds into it. In short, the health of the global economy is a key piece of the puzzle in Bitcoin's valuation journey.
Pandemics and Their Effects
Pandemics represent an extreme external factor that can drastically alter economic landscapes and investor sentiment almost overnight. The COVID-19 pandemic is a prime example of this phenomenon. As global economies came to a screeching halt, traditional asset classes faced significant declines. Consequently, many turned their gaze towards Bitcoin as it began to gain traction among institutional investors and the general public.
- Lockdowns and social distancing measures meant that people were searching for alternative investment strategies without having to step out of their homes.
- The financial stimulus packages in various countries resulted in increased liquidity, leading to a surge in asset investments, including Bitcoin.
The case of Bitcoin during the pandemic showcases a pivotal transformation; many began viewing digital assets not just as speculative ventures but as viable alternatives to traditional investments. This shift could very well make Bitcoin resilient against future global crises, as more people adopt it amid uncertainties.
In summary, external factors like global economic conditions and pandemics highlight the complex interplay between Bitcoin and wider socio-economic currents, shaping the narrative of its price spikes and enabling future projections.
Comparative Analysis: Bitcoin's Valuation vs. Traditional Assets
In the financial landscape, assets are typically categorized based on their value retention and growth potential. As Bitcoin continues its journey from a niche technology to a recognized asset class, drawing comparisons with traditional assets like gold and stocks becomes imperative. This analysis sheds light on Bitcoin's role as a potential store of value, providing insights that are valuable for investors, enthusiasts, and analysts alike. By understanding the distinctions and similarities between Bitcoin and these more established assets, we can better grasp the unique place Bitcoin occupies.
Bitcoin as a Store of Value
Over the past decade, Bitcoin has often been touted as "digital gold." But what does it mean for an asset to function as a store of value? In essence, a store of value preserves purchasing power over time. Here are a few considerations that articulate the relevance of Bitcoin in this regard:
- Scarcity: Bitcoin has a capped supply of 21 million coins, creating inherent scarcity that aligns closely with traditional stores of value like gold.
- Decentralization and Security: Bitcoin operates on a decentralized network, making it less susceptible to traditional bank failures or government intervention.
- Global Accessibility: Bitcoin can be accessed and traded worldwide, thus providing a universal medium that transcends local economies.
Despite its volatility, many investors look to Bitcoin not only for potential short-term gains but also for long-term wealth preservation. Its properties make it an attractive option during economic instability. This positioning draws attention away from conventional assets, pushing Bitcoin into the spotlight among forward-thinking investors.
Price Correlations with Gold and Stocks
When analyzing Bitcoin's movements in relation to gold and traditional stock markets, it's crucial to note their price correlation and behavioral tendencies during economic shifts. Some key points to consider include:
- Hedging Against Inflation: Just as gold is often perceived as an inflation hedge, Bitcoin has increasingly been seen in this light, particularly during governmental monetary expansions.
- Market Behavior: In times of economic turbulence, while stocks might plunge, Bitcoin often displays a different trajectory, showing resilience or even growth in certain scenarios.
- Trend Correlations: Data shows that Bitcoin's price can sometimes mimic trends from gold, especially during market panic. Investors in gold and Bitcoin often shift capital similarly, indicating some correlation despite Bitcoin's more volatile nature.
In summary, the comparative analysis of Bitcoin with traditional assets reveals a complex interaction of characteristics. For investors considering Bitcoin, understanding these correlations with gold and stocks can provide deeper insights into market dynamics and potential investment strategies. As we continue to witness Bitcoin's evolution, its place beside more traditional assets will remain pivotal in shaping future investment narratives.
"Bitcoin might be wild, but it has a purpose. Understanding it can lead to smarter investments in turbulent times."
For further insights and detailed historical perspectives, you might find resources like Wikipedia, Britannica, and various financial analysis platforms useful.
Implications for Future Investors
As investors gaze into the sprawling abyss of Bitcoin's past, they find the allure of historical peaks serves as both a guide and a cautionary tale. Understanding how Bitcoin's value has oscillated over the years can illuminate the path forward for potential investors. The history of Bitcoinâs peak prices is not merely a chronological ledger; it reflects a complex interplay of socio-economic forces, technological advancements, and market psychology. It is this intricate web that modern investors need to untangle to grasp what lies ahead.
Understanding Market Trends
Decoding market trends goes beyond mere numbers; itâs about contextualizing those numbers within broader socio-economic narratives. The peaks Bitcoin has hit aren't isolated incidents. Instead, they are responses to specific events â from regulatory changes to innovations within blockchain technology. Take, for instance, the 2021 surge, where an unprecedented interest in cryptocurrency arose partly due to institutional adoption and the ongoing digital transformation prompted by the pandemic.
To effectively navigate future investments, one should consider the following elements:
- Historical Cycle Patterns: Bitcoin has experienced cycles of boom and bust. Familiarity with these historical cycles helps investors anticipate potential future movements.
- Sentiment Analysis: Market emotions fluctuate based on news and developments. By keeping tabs on sentiment indicators, investors can gauge likely price movements driven by panic or euphoria.
- Adoption Rates: More users translate into potential for increased demand. Tracking how technology and trends attract new users can offer insights into price stability and growth potential.
Staying attuned to these trends can encourage more informed investment decisions while mitigating the confusion that can arise from sudden price swings.
Risk Management and Strategies
Investing in Bitcoin, while alluring, comes with its share of risks. Developing a solid risk management strategy isn't just wiseâit's essential. Here are key strategies to maintain a balanced approach:
- Diversification: Never put all your eggs in one basket. It's vital to allocate investments across various assets, not just cryptocurrencies, to cushion against volatility.
- Setting Limits: Establish clear entry and exit points based on thorough analysis rather than gut feel. Deciding beforehand how much loss one can tolerate helps avoid emotional and impulsive reactions during market turbulence.
- Regular Review: The crypto landscape is ever-evolving. Regularly review your investment strategy to adapt to new market realities, such as legislative changes or technological innovations.
"Success in investing is not about predicting the future but preparing for it." Having contingency plans ensures that an investor is not simply reactive but rather proactive, positioning themselves favorably even amidst market uncertainty.
In summary, the implications for future investors are both profound and multifaceted. By understanding market trends alongside implementing cohesive risk management strategies, one can navigate the unpredictable waters of Bitcoin investment with greater confidence and clarity. The lessons garnered from the highs and lows of Bitcoin's price trajectory are not just historical footnotes; they are vital instruments for current and prospective investors.
Ending: Lessons from Bitcoin's Price Journey
The exploration of Bitcoin's price fluctuations throughout its short yet eventful history provides invaluable insights for both current and future investors. Understanding the historical patterns of Bitcoin's valuation allows investors to glean lessons that can guide decision-making amidst the volatile nature of cryptocurrency markets. This conclusion serves to distill these insights into concise, actionable points, while highlighting the broader implications of Bitcoin's price journey.
Reflecting on Historical Patterns
Reflecting on the historical patterns of Bitcoin helps uncover the underlying forces driving its price dynamics. One of the most significant takeaways is the recurring phenomenon of volatility. Investors must recognize that price spikes often accompany specific catalystsâsuch as technological advancements, regulatory announcements, or shifts in market sentiment. For instance, the dramatic rise in 2017 was propelled by widespread media attention and speculative trading, only to be followed by a significant correction in subsequent years. This cyclical nature of boom and bust invites a reassessment of risk tolerance for participants in the market.
Realizing these patterns means that investors can approach Bitcoin not just as a digital asset but as part of a larger financial narrative. The long-term trajectory, while marked by tumult, reveals a persistent growth trend in adoption and infrastructure development. Notably, even during periods of downturn, Bitcoin has frequently bounced back, showcasing resilience
"Itâs not just about where Bitcoin has been, but where itâs going that preserves its importance in the investment landscape."
Navigating Future Market Volatility
Navigating through future market volatility necessitates a strategy grounded in both historical knowledge and current realities. With Bitcoin's rise in popularity, its price movement has become increasingly intertwined with broader economic indicators and global events. For instance, geopolitical tensions or pandemics can send shockwaves through financial markets, including cryptocurrency. It's prudent for investors to stay informed about external influences while making investment choices.
Additionally, developing a clear risk management strategy stands paramount for anyone interested in Bitcoin. Diversification becomes essential to combat potential losses during downturns. Investors may wish to consider balancing their Bitcoin holdings with other forms of investmentâlike stocks or commoditiesâthereby buffering against extreme volatility.
For further reading:
- Wikipedia's Bitcoin Page
- Investopedia: Bitcoin's Market Trends
- CoinMarketCap: Bitcoin Performance History
