Introduction:
Is Bitcoin price: EUR/USD you looking for support to invest your money? Surely you have already heard of Bitcoin. The first cryptocurrency in the world, Bitcoin is a must. Since the recent surge in the price of Bitcoin, he has never been talked about so much!
However, many people still view Bitcoin as a black box. A cryptocurrency is very different from a traditional currency. Also, it is normal to have questions about it. You are on the right page to find the answers! Below is a guide to Bitcoin BTC!
Bitcoin price: evolution from 2009 to 2023
The Bitcoin cryptocurrency was created in 2009. However, until 2013, its price was stagnant at very low values, around a few dollars. For example, a minor bought two pizzas in 2010 for the modest sum of… 10,000 bitcoins!
Bitcoin price in 2013:
The year 2013 is the year that will see the first very significant rise in the price of Bitcoin. The course went from 10 euros at the beginning of the year to around 200 € in April. Another very significant rise occurred in November 2013. The price thus rose from €151 on November 1 to over €831 on November 30!
Bitcoin price in 2014:
The year 2014 was marked by an almost constant drop in the price of Bitcoin. However, it got off to a good start, taking advantage of the bull run initiated in 2013. The price of BTC was thus set at €674 on January 5, 2014. Unfortunately, this price will never be reached again during the year. A significant drop first occurred between January 5 and April 13. The price of BTC then fell from €674 to €293.
After a slight recovery, the price deteriorated further during the second half of 2014. Thus, between June 8 and the end of 2014, the Bitcoin price will drop from €480 to € 259.
Bitcoin price in 2020
The year 2020 will remain historic for Bitcoin in more ways than one. This year was marked by the COVID-19 crisis which then led to a stock market collapse around March. If the price of cryptocurrencies has also been negatively impacted by this crisis, some react quickly, like that of Bitcoin.
The March crash saw the price of Bitcoin halve in 15 days with BTC around €4,100 in mid-March. However, very quickly, the price showed very encouraging signs of recovery. It will be understood that at the end of the year, the first long-awaited real bull run of Bitcoin is underway!
A very significant increase in the price will thus take place from April. Starting from a minimum of around €4,100 in March, BTC is close to €23,500 at the end of the year, thus establishing a new historical record.
Bitcoin price in 2023:
The bull run initiated in 2020 set a new record at $69,000 in November 2021.
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Bitcoin price: supply and demand
Bitcoin laid the foundation for cryptocurrencies. In particular, Bitcoin quickly stood out for its decentralized system. Indeed, Bitcoin does not involve a bank or third-party entity to operate. It is rather a network intended for direct transactions between a seller and a buyer, known as “peer-to-peer “.
This decentralized side allows the Bitcoin price not to be dependent on decisions made by a government or a central bank. This is a fundamental difference with fiat currency. It is common to see a central bank take directions or decisions that affect the markets.
For example, in times of crisis, it is common to see central banks inject new money into the circuits to support the economy. This policy, often referred to as “ money printing ”, generates the risk of suffering a period of inflation. In the event of inflation, we then observe an increase in prices which mechanically leads to a loss in the value of money. With Bitcoin, you are protected against the collateral effects that follow decisions made at a high level.
The law of the market and Bitcoin, how does it work?
The law of the market (or supply and demand) is the primary driver of BTC price. Bitcoin supply is limited to 21 million tokens. Also, the greater the demand, the more the price of BTC increases. Conversely, if demand decreases (less buying of BTC, reselling of BTC, etc.), the price of BTC will go down.
The balance between supply and demand is constantly changing. Also, it is not surprising to find that the price of Bitcoin is very volatile.
However, the advantage of Bitcoin compared to other cryptocurrencies is that it enjoys a large community of investors and users. However, a large community makes it possible to somewhat stabilize the variations in the price. How? The larger the community, the more the weight of each user is diluted. Thus, the price is insensitive to movements initiated by a single investor, however important it may be.
What can affect the price of Bitcoin?
The law of the market is the parameter that mainly affects the price of Bitcoin. However, you will find below other factors that affect the price of Bitcoin.
The notoriety of Bitcoin:
A corollary to the law of the market is that the more crypto is talked about, the more its price will increase. Indeed, the notoriety that results from media coverage, on social networks, etc. increases demand. This is a very important parameter for cryptocurrencies.
Indeed, unlike fiat currencies, cryptos are still very little known to the general public. A lot of mystery surrounds the crypto field for the uninformed person. This is why, the more the cryptos will be known, the more the potential users will be reassured to invest.
Bitcoin has the advantage of being the figurehead of cryptos and the oldest crypto. It, therefore, benefits from significant lighting. But this notoriety is earned above all through feats of arms. For example, the year 2020 marked by the incredible boom in the price of Bitcoin has helped to draw the spotlight on this crypto like never before. Increasingly, Bitcoin is now asserting itself as a haven in times of risk and many institutional investors even refer to it as “ digital gold ”.
The short and medium-term economic conditions suggest good prospects for Bitcoin. Its notoriety should continue to increase in the face of market uncertainties. Additionally, big market players like PayPal have taken the plunge in 2020 by offering Bitcoin services. This has undeniably acted as a catalyst. Many investors have thus thought that if PayPal is getting into crypto, it is because it is an area of the future.
Other big players have also turned to Bitcoin and the movement is expected to continue. We haven’t finished hearing about Bitcoin!
What future of the price of Bitcoin?
As mentioned above, the price of cryptocurrencies is characterized by high volatility. Also, it is never easy to plan and make predictions about the price. However, specialists regularly work on this subject. Since the bull run of 2020, many have looked at the price of Bitcoin and made predictions about Bitcoin.
Overall, given the situation, predictions for the future price of Bitcoin have never been better. It’s true, specialists are not all unanimous on the peak value that will be reached by Bitcoin in the short and medium term. But they agree that Bitcoin will continue to rise in the next few years. For information, we give you below some predictions issued by specialists on the price of Bitcoin in 2021 and 2022.
Bitcoin Price Prediction in 2023:
Each week sees new predictions about the price of Bitcoin by the end of 2023.
- Recently, the hedge fund Pantera Capital thus estimated that Bitcoin should be trading around $115,000 (€95,000) by August 2023!
- Analyst PlanB, on the other hand, envisions Bitcoin between $ 100,000 (€82,000) and $288,000 (€235,000) by December 2023.
- Finally, the CEO of Binance US is more cautious but still sees BTC between $75,000 (€62,000) and $100,000 (€82,000) by the end of 2023.
Bitcoin Price Prediction in 2022:
Analysts predict a further rise in the price of Bitcoin in 2022. Seth Ginns, chief investment officer at Coinfund, predicts BTC between $500,000 (€412,000) and $1 million (€825 million) by 2022.
Others are more measured but still, see Bitcoin reaching peaks in 2022. For example, Scott Minerd, manager at Guggenheim Global, sees Bitcoin around $400,000 (€330,000) in 2022.
The applications of Bitcoin:
How to get Bitcoin?
There are many ways to get Bitcoins. We present below the main ways to have Bitcoin.
Buying Bitcoin on eToro:
The easiest way to get Bitcoin is to buy it on an exchange like eToro. eToro is an exchange that was created in 2007 and has a very high reputation. You must first register with this online broker, verify your account and then deposit money into it. Then you can simply switch to buying Bitcoin. So here’s how.
Registration on eToro
To be able to buy Bitcoins on eToro, you must first log into the exchange portal and register. To do this, go to the eToro homepage and click on “Join now”.
You will then access the registration form where you will have to provide the following information:
- Username _
- E-mail address
- Password _
Then you will also need to accept the privacy policy and the site’s cookie policy before clicking on “Create an account”.
The applications of Bitcoin:
Unlike other cryptos, Bitcoin is only a currency. Bitcoin is therefore used to carry out peer-to-peer transactions.
Depending on the needs, this may include, for example, sending money to relatives living abroad. This method is often used in countries that suffer from hyperinflation. By sending Bitcoins, you are sure that this money will not be devalued. For this same reason, some use Bitcoin as a haven. By placing part of their agent on this crypto, they protect themselves from inflation and retain their purchasing power.
Verify your account:
For added security, eToro will immediately verify your identity.
You will need to submit both proof of address and proof of identity, for the sake of KYC (Know Your Customer).
Buying Bitcoin on eToro:
Once you have deposited funds into your account, you can go to the trading page and select “Bitcoin”. You can also find information on the Bitcoin price in real-time on its dedicated page. and start buying Bitcoins!
We recommend that you carefully select your Stop Loss, Take Profit, and Leverage. Indeed, you will buy Bitcoins in CFD via eToro, which implies potential gains as potential losses are greater than with a cash purchase.
Bitcoin price in 2023: is it too late to invest?
The bull run that started in 2020 may suggest that it is too late to invest in Bitcoin. However, as mentioned above, the Bitcoin ecosystem and monetary conditions point to a bright future for Bitcoin. Bitcoin predictions are in green and see highs in 2023 and beyond. Now is the perfect time to invest in Bitcoin!
Conclusion:
Bitcoin is the first cryptocurrency in the world in terms of market capitalization. It also has an extremely large community. In addition, its ecosystem is in the process of being structured with the arrival of major players such as Paypal in 2020.
Bitcoin, therefore, presents itself as one of the cryptocurrencies best equipped to impose itself shortly. With the health and economic crisis in 2020, more than ever Bitcoin even acts as a haven for your money.
As we have already said, the eToro trading site is an optimal solution for investing in Bitcoin, whatever your level of trading. You will be able to take advantage of interesting functions, such as a demo account and social trading. So, don’t wait any longer and invest in Bitcoin in 2023!