Mar 14, 2019 16:09 UTC
Mar 14, 2019 at 16:22 UTC
What Was The Lowest Price of Bitcoin In History?
The price of Bitcoin is a source of great interest for crypto enthusiasts all around the world. Even when it is experiencing a bearish slump, one Bitcoin is worth almost 4000 US dollars. When something is capable of commanding that kind of a price, one cannot help but take notice of it. But even Bitcoin has had much darker days, when its low price went far beyond falling under the 3000 US dollar price point. What was the lowest price of Bitcoin in history? Let us find out.
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We have already discussed with you the highest Bitcoin price in history and now it is time to take a look at the price that seems quite unbelievably low compared to the massive high of December 2017.
Bitcoin Price History in its Early Days
At the very beginning, Bitcoin naturally started out quite slow. After the mining of the first Genesis block of Bitcoin in January 2010, it started taking baby steps. On 5th January, 2010, its first course towards exchange dollar was published at 1 USD being equal to 1309.03.
Around this time, 1000 Bitcoins were trading at about 0.3S which pegs the price of each Bitcoin at 0.00003. In the same year, Bitcoin was used to purchase Papa John’s pizza. 10,000 BTC were used to purchase something worth 25 US dollars, which pegs the value of each Bitcoin at 0.0025 cents.
As we see,at this point, the price of Bitcoin was not too clear to anyone. People were arbitrarily valuing it at a rather low level based on their understanding of its inherent value. Therefore, the proper pricing of Bitcoin could only start a little later. As we will see, it will happen around the year 2013.
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From the year 2010 to 2013, the price of Bitcoin kept rising but still remained quite negligible. I’m 2013, Coinbase exchange claimed to have sold 1 million dollar worth of Bitcoins at over 22 dollars per coin. Coinmarketcap also places the oldest price of Bitcoin at 2013, so we will calculate the lowest price of Bitcoin accordingly.
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Lowest Recorded Price of Bitcoin
According to Coinmarketcap, the oldest price information for Bitcoin is available till April 2013, when it started trading in good earnest. On 4th July, 2013, the recorded price was 72 dollars per Bitcoin. As per available data, this is the lowest recorded price of Bitcoin.
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