Bitcoin is the pioneer of cryptocurrency. In 2011, when Bitcoin was released, the price of one Bitcoin was around a couple of dollars. The cryptocurrency market is volatile. And there is no possible way to predict the price. But how much is 16 Bitcoin worth?
Before getting into the answer, there was a time when people had no idea that after a couple of years, the price would rise upto 50k dollars. And the same people who bought some pizzas for anything with those Bitcoins that they won are the most unlucky people. The change in the price of Bitcoin makes it impossible to understand what the price will be in a couple of years.
How Much Is 16 Bitcoin Worth?
While I am writing this article, the price of one Bitcoin is around 16,993 United States Dollars. When I started to write, the price was about 16,992. So, I have to change the price after finishing this article. So 16 Bitcoin is worth (16993*16)= 271,888 United States Dollars. The market is this much volatile.
If a person wants to invest in Bitcoin, they could make around $16 without giving any transaction fee. Even though they have to pay a transaction fee, they would still make some money. So, investing in cryptocurrency is so competitive. If someone wants to make a profit from cryptocurrency, then they have a lot of opportunities here with proper skills, knowledge, and a little luck about cryptocurrency.
Bitcoin Journey: From 2009 to Present
The first time common people got to know about Bitcoin was in 2009. The first cryptocurrency was Bitcoin itself. This is a form of payment that people don’t need to regulate under any legal tender. After that, the usage and popularity increased a lot. And this made many competitors create other cryptocurrencies like Ethereum, LiteCoin, Tether, Doge, and many more.
I think an example will help you to understand the mechanism. Suppose you need to make an international transaction and don’t want any third-party organization to know about your transaction. There will be no name of the sender, receiver, and how much money you are sending. This was the aim of Bitcoin in the early stage.
2009, The Early Stage
When an unknown person or group called Satoshi Nakamoto created the unknown ledger technology, the price of a single Bitcoin was $0. Their aim is to create a blockchain technology where people can make payments without a third-party organization. They also published the Bitcoin white paper.
2010, The First Breakthrough
In the first year, the price was $0. But with time and popularity, the price increased to $0.40. At that time, people used to think that this was a type of currency. However, people had no idea about cryptocurrency, blockchain technology, and how the platform works.
This was when some people started taking Bitcoin seriously as they saw that the price had been increasing. So, if somebody asks you how much is 16 bitcoin worth from 2011? Then you can easily say that 16 Bitcoin was worth $16 in 2011.
2014, First Decrease
Do you know what was the price of a single Bitcoin in starting of 2014? In December 2013, the price was around $1,150. People were so curious and excited about the fact that there were so many people who sold their Bitcoins, and that caused the fall in prices in 2014. This was the price time when the price of Bitcoin decreased.
2017, Global Popularity
This was the year when almost everything was clear to the common people. The price increased by more than 200%. In January 2017, the price was around $900, and it went up to around $1,900 in December. This was the year when different centralized exchanges rose, and people started investing in Bitcoin.
After the pandemic, people were smart enough to understand everything about cryptocurrency that an investor should. Therefore, the rise in the price was maximum, and it increased to $69,000 in November 2021. And this made a story in the highlight. But, when the maximum number of people sold their assets to make a profit, the price of Bitcoin started to fall again.
2022, Present, and Future
As of now, the price of a single Bitcoin is around $16993. As the cryptocurrency market is so volatile, so there is no one who can predict the price of Bitcoin. However, there are experts who have a prediction about the price of Bitcoin. You can check the list out.
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Why Bitcoin Price Will Rise?
You may see that there is almost everyone says that the price of Bitcoin will rise. But do you know the reasons why they say that? Here are the main reasons for that.
- First of all, there is no unlimited supply of this cryptocurrency. And the price depends on supply and demand. So, the price will ultimately rise.
- Secondly, Bitcoin is a great solution for people who want to transact money internationally.
- One of the best things about Bitcoin is that there is no governing body to look over your transactions.
- Bitcoin investment, buying, selling, and trading are all safe and secure. There is no third party, and nothing can hack your money as long as you can remember the password of your crypto wallet.
- Lastly, there are problems occur with international transactions. Suppose you want to send money to a person who lives in an Asian Country, and the country is facing dangerous inflation. So, that person will have to face some serious loss while sending or receiving money.
First of all, Bitcoin investment is great. But there is no way to know when you will get the returns. Suppose, right now, you invest thousand of bucks and get around half of Bitcoin. The profit can be significant after one year, two years, or even ten years. So, I recommend investing a small amount, which will not cause any financial problems.
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