What Is the Current Price of Bitcoin?
As of 8 a.m. ET, 1 BTC is trading at $76,146.34**. Bitcoin reached an intraday high of **$76,999.00 on November 7, 2024, marking its highest price in the past year.
Bitcoin Price Chart
The daily chart (updated at 8 a.m. ET) reflects Bitcoin’s price trajectory but excludes intraday fluctuations.
Key Bitcoin Price Metrics
- All-Time High: $76,999.00 (November 7, 2024)
- 1-Year Low: $34,948.50 (November 14, 2023)
- Year-over-Year Growth: 106%
- Market Capitalization: $1.50 trillion
Bitcoin’s rise from its 2009 launch has revolutionized global finance, offering an inflation-resistant alternative to fiat currencies like the U.S. dollar.
What Is Bitcoin?
Bitcoin is the first decentralized cryptocurrency, powered by a blockchain network. Key features:
- Decentralization: No banks or governments control transactions.
- Mining: Miners validate transactions and earn BTC.
- Fixed Supply: Capped at 21 million BTC, ensuring scarcity.
👉 Explore Bitcoin’s market dominance
Factors Influencing Bitcoin’s Price
- Supply and Demand: Fixed supply + rising demand = price surges.
- Investor Sentiment: Volatility stems from market speculation.
Historical Context:
- 2009 Starting Price: $0.00099 per BTC
- 2017 Peak: $20,000 (driven by CME futures launch).
Bitcoin Halving Events
- Purpose: Reduce mining rewards by 50% every 210,000 blocks.
- Impact: Limits supply; historically precedes price rallies.
Example: After the 2020 halving, BTC surged for over a year.
Historical Price Trends
| Period | Key Events | Price Range |
|---|---|---|
| 2010–2019 | First exchanges; 2017 CME futures | $1 → $20,000 |
| 2020–2024 | COVID-19 boom; 2022 rate hikes | $4,000 → $76,999 |
How to Buy Bitcoin
Exchanges
- Binance
- Coinbase
- Kraken
Storage
- Hot Wallets (online, convenient)
- Cold Wallets (offline, secure)
Bitcoin ETFs
SEC-approved spot ETFs (2024) allow indirect investment via traditional exchanges.
FAQs
What was Bitcoin’s lowest price ever?
$0.00099 in 2009; $0.04865 (July 14, 2010) per CoinMarketCap.
What drives Bitcoin’s price?
Supply/demand, investor sentiment, and macroeconomic trends.
Is Bitcoin a good hedge against inflation?
Yes, due to its capped supply and decentralized nature.
Disclaimer: This content is for educational purposes only. Consult a financial advisor for personalized advice.