Cryptocurrency

Bitcoin exchange rate of 0.05 dollars?

A Bitcoin exchange rate of 0.05 dollars sounds from today’s perspective incredibly. But almost exactly 10 years ago, on 17.07.2010, were such prices of BTC are the norm. In this article, we are a bit nostalgic and look back to Mt on the first Trade on the Bitcoin exchange. Gox. This was held on the above date and transferred 20 BTC to a Bitcoin price of 0.04951 US Dollar.

Bitcoin exchange rate: From a few cents up to ten thousand

Our article is based on the recent Blog Post by Clark Moody with the title “Ten Years of Bitcoin Market Data”. Clark Moody is the Person who is the first Person a website with real-time data for the BTC market is programmed.

In the recent Blog Post Moody now writes about the history of the Bitcoin exchange rate and its development. He also refers to the first official Bitcoin transaction on the well-known exchange, Mt. Gox.

Moody stresses that this buyer up to the present day, a Return on Investment of 18.4 million percent (!) achieved, would have. The first transaction on the Bitcoin Exchange took place almost exactly 10 years. 17. July 2020 bought an unknown Person 20 BTC for a total price of 0.99$.

Trade on the worlds leading Social Trading platform!

Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!

20 Bitcoin for a price of under US $ 1

Thus, the buyer was able to strike at a Bitcoin price of 0.04951$. The exact dates for the first Trade on Mt. Gox are as follows:

Time: 2010-07-17 23:09:17 UTCMenge: 20.00000000 BTCPreis: $0.04951 Total Value: $0.9902

It is already clear, as unknown and small Bitcoin was at this time. In July 2017, there were just 3.4 million BTC that were in circulation. Also, the market capitalisation was just $ 170,000.

The fascination with such a history is the development in the last 10 years. Because if we, the present-day dimensions with the original to compare, it is not clear how relevant BTC is at this time become: So only the today’s Bitcoin rate of 9,100$, but also, the market capitalisation increased from formerly 170.000$ to around $ 170 billion.

Bitcoin exchange rate and 10 years of growth

17. July 2030 will be celebrated the 20 year anniversary of this transaction. From today’s perspective there are a number of scenarios and parameters that influence the Bitcoin rate. It is absolutely unpredictable as we are looking back to judge today’s rates. In view of the development in the past, however, we are bullish that the year 2020 will have been in 10 years, a year by the prices in comparison to the year 2030 downright cheap.

If you still have no BTC, but Bitcoin want to buy, make sure it is the correct selection of the stock exchange. Your money and your Coins are only as safe as the Partner you trust in. According to our own Tests, we can put you and others because of the possibility of rising and falling courses, eToro as a point of contact recommend.

62 % of private CFD accounts lose money. No EU investor protection.

(Image Source: Shutterstock)

The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

Do NOT follow this link or you will be banned from the site!