Since the birth of Bitcoin eleven years ago, the price of cryptomoney has been one of the most common topics of debate within the cryptoscape community. The virtual currency has the title of the financial asset with the best performance so far in the 21st century. This has not prevented some analysts and crypto-sceptics from predicting the death of BTC on several occasions. However, today, in the midst of a new bullish rally, we can say that the price of Bitcoin does not disappoint.
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The Bitcoin Price Story
Although today Bitcoin is clearly one of the best investments we can make in the financial market, the truth is that this has not always been so obvious. On the contrary, there was a time during the early years after BTC’s birth, when even members of the crypto community wondered if virtual currency would ever have any value.
Until 2012, the price of Bitcoin was almost zero. Events as absurd to us today as buying two pizzas for 10,000 Bitcoins in 2010 have occurred. BTC remained a worthless curiosity until 2012, when after the first Halving in its Blockchain, the price of cryptomoney shot up from $2 to $1,100.
The next big increase in the price of Bitcoin would wait until the second Halving in its Blockchain in 2016. This marked the beginning of the biggest rally in the BTC, with the cryptomoney price hovering around $20,000 by the end of 2017.
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Changpeng Zhao was right
This is how we arrived to this day, when after several ups and downs in its price since the great bullish rally of 2017, Bitcoin is currently experiencing a new increase in its price. In what many already consider could lead BTC to reach a new record, thanks to the boost that the third Halving of the cryptomone would provide some months ago.
Among those who defend this position is Binance’s CEO and Founder, Changpeng Zhao. Through his Twitter account, he remembered today a message sent a year ago, in which he warned the crypto community that it was a bad idea to sell Bitcoins below $10,000. He indicated that the price of the crypto currency would rise above that figure as it is indeed doing today.
„I may need to increase the number now. I published this a year ago, as a half-assed joke. I got a lot of feedback when BTC was under 10,000. Guess who’ll be the last to laugh? Think long term.
In this way Changpeng Zhao not only remembers that his prediction was correct, despite Bitcoin’s supposed death predicted by the crypto-skeptics a year ago. But now he renews the challenge, saying that he will need to increase the figure, showing his certainty that at the price of BTC he still has plenty of room to grow. Making this our Tip of the Day here at CryptoTrend.