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Bitcoin (BTC) rose from $0.09 to more than $68,000 in 10 years; what if you invested $10 back then?

By Rain İçerik Ekibi - Apr 07, 7:00 PM

Bitcoin (BTC), the first decentralized cryptocurrency has had one of the most exciting trading histories of any digital assets so far, with many unparalleled opportunities along the way—a $10 Bitcoin investment made in 2010 was worth over $7.5M at BTC’s most recent all-time high price of $68,789 on the 10th of November, 2021.

Below is a summary of all the influencing factors that contributed to this unmatched performance over the past ten years, and what could play a vital role in deciding the future of this iconic cryptocurrency.

Bitcoin’s beginning (2010-2015)

Contrary to popular belief, Bitcoin did not start trading right after its whitepaper in 2008. BTC began trading in 2009, when BTC’s price was practically zero. Holders had to wait until 2010 for the first major jump in valuation, when 1 BTC reached $0.09, its first reliably recorded price. However, what came after was the rise that truly showed Bitcoin’s potential. After hitting the $1 mark around April 2011, BTC continued to climb all the way to $29 within two months. This is around a 3,000% gain, most likely related to the aftermath of the 2008 housing crisis.

Unfortunately for holders, this remained high for a while. BTC’s volatility showed its ugly side for the first time, when the price declined to $2 by November. 2012 was an uneventful year for Bitcoin’s price action but 2013 was a landmark year. Bitcoin had its greatest gain to date - going from $13 to $230 in the space of only four months. This jump was likely caused by a couple of factors - the ‘Cyprus banking bubble’, a mysterious Reddit giveway of around $13,000 in BTC coming from a user named “BitcoinBillionaire”. However, what came next was anything but expected - BTC topped its all-time high by a heft margin, climbing to $1230 in December 2013. This meant that during that year alone, BTC recorded a close to 10,000% gain, which was truly unmatched atby that time.

When the world noticed Bitcoin (2015-2020)

After a relatively steady 2014 and 2015, Bitcoin introduced itself to the masses for the first time during its historical bull run, which saw its price rise from around $1,000 to almost $20,000 between April and December 2017. The reasons behind this incredible performance are unclear, but some argue that the inception and new availability of Tether (USDT) played a key role in the increase, others say it was the interest in BTC demonstrated by large cap tech companies that propelled the valuation upward. In any case, Bitcoin failed to hold this level, and in a year’s time, it was only worth a fourth of its all-time high. Despite a rebound in the first half of 2019, BTC’s price seemed to have settled around the $7,000 level by mid 2020. And then came the storm. Defying all odds, Bitcoin closed 2020 with an all-time high of almost $30,000, which smashed through the resistance at $20,000 instated by its first bull-run in 2017.

The golden era of Bitcoin (2021-present)

2021 began with major price action, as BTC rose to around $63,000 by April, which was unimaginable only a year prior. This was actually an almost 1,000% year-over-year gain, which is impressive at such high market capitalization. The bull run's underlying reasons were clearer than ever this time, as institutional investors not only showed interest in investing in Bitcoin but also took action, which gave a feeling of safety to retail investors, and pushed prices in a positive direction.

After a correction in mid 2021, BTC’s price was revitalized once again, and this time, the upturn resulted in the current highest value of $68,789.63, recorded in early November 2021.

Rain is a Crypto-Asset Services Provider headquartered in İstanbul. Rain provides services to its users at financial institution standards.

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