Bitcoin rate chart throughout history from 2008 to 2022

Bitcoin exchange rate
For ten years now, opponents of cryptocurrencies have been tirelessly insisting that Bitcoin is a bubble. But despite this, the value of Bitcoin continues to reach new heights. Yes, during this time there really were many ups and downs of various sizes. But in each seemingly hopeless case, the price of Bitcoin recovered and rushed to new horizons.

To understand why the bubble refuses to deflate completely and continues to tirelessly delight its fans, you need to carefully consider the history of the Bitcoin rate, paying special attention to the events that accompany all these dizzying fluctuations.

• Bitcoin exchange rate history 2008 – 2009. The emergence of Bitcoin
• 2010. Pizza for 10 thousand bitcoins, launch of Mt.Gox
• 2011–2012. Hack of Mt.Gox and the first correction of the Bitcoin rate
• 2013. Two bullruns in one year
• 2014. Mt.Gox hack and protracted downtrend
• 2015–2016. Slow Bitcoin price recovery
• 2017. The same bull run
• 2018. Cryptowinter
• 2019. The end of the downtrend
• 2020. Another “bull run”
• 2021. Bitcoin native

Bitcoin price history

History of the Bitcoin exchange rate
The history of Bitcoin begins with the presentation of the article “Bitcoin: A Peer-to-Peer Electronic Cash System” by Satoshi Nakamoto, who launched the blockchain of the first cryptocurrency in early 2009.

At that time, there was no Bitcoin exchange rate yet, since the value of cryptocurrencies is determined by the demand for it.

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Read the full article: When Bitcoin came into being: telling the story of BTC

2008 – 2009. The emergence of Bitcoin

When Bitcoin appeared
The first block in the Bitcoin network was generated on January 3, 2009 by its creator Satoshi Nakamoto. The 50 BTC mined at that moment still had no value.

The first transaction to exchange bitcoins for real money, which marked the beginning of the history of the Bitcoin exchange rate, took place in September 2009 - then developer Martti Malmi, who worked together with Nakamoto, received $5.02 to his PayPal account for transferring 5050 BTC to a user , hiding under the nickname NewLibertyStandard. The latter proposed in the future to use the cost of electricity spent on generating blocks of electricity to evaluate Bitcoin.

A month later, on October 5, the first platform for BTC trading was launched, the name of which coincided with the pseudonym of the mentioned user - New Liberty Standard

. At the start of trading, $1 could buy 1,309.03 BTC.

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Thus, the first rate in the history of Bitcoin to the dollar was $0.000769 per 1 BTC.

2010. Pizza for 10 thousand bitcoins, launch of Mt.Gox

Bitcoin exchange rate on the Bitcoin Market (2010) // Source: Bitcoincharts.com
The events that filled 2010 gave impetus to the first serious increase in the bitcoin exchange rate. It all started with the launch of the cryptocurrency exchange BitcoinMarket.com (now defunct) on February 6th.

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On the first Bitcoin exchange, 1 BTC in 2009 cost $0.003.

Pizza for Bitcoins

Then came the first online purchase of a physical product with payment in bitcoins - on May 22, 2010, the same legendary story happened with the purchase of pizza for 10,000 BTC. Jacksonville (Florida) resident Laszlo Hanyecz ordered two pizzas from Papa John's through the Bitcointalk forum, transferring these coins to the user who took over the delivery. According to various estimates, at that time Hanecz paid only $25–40 for his order.

But a truly significant event took place on July 11 - Bitcoin was mentioned on the popular news resource Slashdot, which provoked a 10-fold increase in its price over the next 5 days - from $0.008 to $0.08 per 1 BTC.

On these same days (07/17/10), the Mt.Gox exchange was launched, which was subsequently destined to repeatedly have a fatal impact on the cryptocurrency market.

After several months of fluctuating between $0.06 and $0.07, the value of Bitcoin began to rise rapidly in early October. A month later (November 6), the bitcoin rate reached $0.35 on the Bitcoin Market and $0.5 on Mt.Gox. At this moment, Bitcoin was 16.67 times more expensive than at the beginning of the year, and its capitalization reached $1 million.

Bitcoin rate on Mt.Gox (2010)
// Source: Bitcoincharts.com

2011–2012. Hack of Mt.Gox and the first correction of the Bitcoin rate

Bitcoin rate on Mt.Gox (2011-12) // Source: Bitcoincharts.com
After a rapid rise to $0.5 and an equally rapid descent to $0.15, Bitcoin continued to consolidate in the price range of $0.2–0.3 until until the beginning of January 2011. Then the Bitcoin rate continues to move upward, and already on February 9, 1 BTC in value is equal to $1.

This is facilitated by the growing popularity of Bitcoin due to its mention in the news resource Hacker News and Twitter, an increase in the number of miners, as well as the launch of the darknet site Silk Road, where BTC has become the main payment system.

Press about Bitcoin

In mid-April, when an article about Bitcoin was published in TIME magazine, its rate finally breaks through the $1 mark and rushes up, never to return to it again.

On June 2, 2011, 1 BTC already cost $10. Over the next 6 days, a breakthrough was made to ~$32 (June 8). After another 4 days, the rate dropped again to $10 and then jumped sharply to $25.

As expected, the increased volatility of Bitcoin in the summer of 2011 was accompanied by a negative news background: on June 19, the Mt.Gox crypto exchange was hacked, as a result of which hackers stole and made publicly available the data of more than 61,000 clients of the exchange.

Mt.Gox owner Mark Karpeles

Also, with the help of a compromised administrator account, hundreds of thousands of users’ bitcoins were put up for sale, which led to a decrease in the exchange rate from $17 to $0.01. At this price, the attackers managed to buy and withdraw about 2,000 BTC. Due to the incident, trading on Mt.Gox was suspended for a week.

Despite the relatively small losses, news of this hack had an effect, causing the Bitcoin rate to fluctuate seriously on other exchanges.

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Then, in the first week of August 2011, the value of BTC dropped from $15 to $6. After a quick recovery of the rate to $12, the correction of the summer bull run continued until November, ending at $2.5.

For the next year and a half, the price of Bitcoin was in the accumulation stage with a gradual increase to $14. The only serious depreciation during this period (from $16 to $7) occurred in August 2012.

2013. Two bullruns in one year

History of the Bitcoin rate on Mt.Gox (from January to August 2013) // Source: Bitcoincharts.com
In mid-January 2013, a new cycle of rapid growth in the value of Bitcoin begins, which reaches its apogee on April 11 - for 1 BTC they give $266. Within a week, the rate is adjusted to $60 and over the same period rises to $160. Then, until the beginning of July, there follows a corrective decline in the value of Bitcoin, which ends at $70.

Bitcoin exchange rate is unstable

The subsequent systematic rise in the Bitcoin rate is observed until October 2, when a sharp decline occurs from $140 to $100 against the backdrop of an FBI special operation to close the Silk Road online drug market. Within 10 days, the BTC price returns to previous values ​​and reaches $220 by October 22.

A new bull run starts from the same point in early November and by the end of the month the price of Bitcoin reaches $1,240. This is happening against the backdrop of positive news about accepting payment for tuition at one of the universities in Cyprus in bitcoins. Also positive is the announced support for Bitcoin payments by Zynga, a giant in the field of online game development.

Unlike previous cases of the Bitcoin rate forming new ATHs (All Time High - absolute maximum), this time a sharp price decline does not occur immediately - having adjusted within a few days to $850, in early December it once again returns to the level of $1240.

And only after this, against the backdrop of news about the ban on cryptocurrencies in China and the closure of the BTC China exchange, the usual large-scale drains begin, first to $600, then to $450.

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2013 ends at $800 per 1 BTC.

Bitcoin rate on Mt.Gox (from August 2013 to February 2014)
// Source: Bitcoincharts.com

2014. Mt.Gox hack and protracted downtrend

Bitcoin rate on Bitstamp (2014) // Source: Bitcoincharts.com
The corrective downward movement of the rate that began at the end of 2013 became the longest (at that time) in the history of Bitcoin. The cryptocurrency winter lasted 411 days until mid-January 2015. During this time, BTC fell in price by 86% - from $1240 to $160.

2014 started off well - throughout January, Bitcoin confidently remained above the $800 mark. This was facilitated by the news about the opening of the world’s first secure BTC storage, Elliptic Vault, the growing popularity of cryptocurrencies in Ireland and the resumption of the BTC China exchange.

Bitcoin price drop

But then a series of events began that negatively affected the Bitcoin rate.

First, on January 28, it became known about the arrest of the vice president of the Bitcoin Foundation for money laundering. Then, on February 7, withdrawal operations from the Mt.Gox crypto exchange, which accounted for 70% of all BTC transactions at the end of 2013, were suspended. The reason for these measures was the suspicion of a hacker attack through a vulnerability in the operation of BTC transactions.

Between February 10 and February 12, similar transaction problems were discovered on other exchanges, causing Bitcoin to drop to $600. Squees up to $100 were recorded on some sites.

Until the end of the month, the price of Bitcoin continues to decline. On February 28, Mt.Gox owner Mark Karpeles announced at a press conference the bankruptcy of the exchange and the loss of 744.4 thousand customer bitcoins “due to system shortcomings.” By this time, on the exchange itself, the price of BTC had dropped to $100. On other crypto platforms there was a drop to $400.

In March, the rate returned to the range of $600–700, from where, by inertia, a protracted downtrend continued, leading many to believe that “the bubble had finally deflated.”

2015–2016. Slow Bitcoin price recovery

Bitcoin exchange rate on Bitstamp (2015-16) // Source: Bitcoincharts.com
At the beginning of January 2015, the Bitstamp crypto exchange announced the hacking and theft of 19 thousand BTC. At this moment, the Bitcoin rate dropped to $170, but after the exchange resumed operations, it began to recover, reaching $300 at the end of January. Then a long period of consolidation begins in the $200–300 range.

At the end of October, Bitcoin breaks through the $300 mark and within a week reaches the $500 level. Over the next six months, the rate consolidates in a narrowing range, exiting which at the end of May 2016 brings the price of Bitcoin to $790 in mid-July.

The natural correction that began after this mini-bullrun worsened when, in early August, hackers hacked the Bitfinex exchange and stole 120,000 BTC. The price briefly drops below $500 and then until the end of October the rate floats around $600.

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Until the end of 2016, there was a steady increase in the price of Bitcoin to $1000.

2017. The same bull run

Bitcoin rate on Bitstamp (2017) // Source: Bitcoincharts.com
At the beginning of January, the cost of Bitcoin reaches $1,150 for the first time since the end of 2013, but then within a week it collapses to $750. By mid-March, the rate reaches new heights, briefly reaching $1300–1350.

By the end of March, the price of BTC drops to $900, but a month later it finally breaks through the $1,350 level. In the last weeks of May, Bitcoin trades at $2500–2600, then corrects to $1800 to come close to $3000 in the first ten days of June.

Having failed to overcome this level, the bulls again lose the initiative, and by mid-July the price again drops to $1,800. At the beginning of August, the $3,000 mark was overcome and by September 1, the cost of BTC reaches $5,000.

Bitcoin as a means of payment

The growth of the Bitcoin rate is facilitated by the rapid increase in the number of network users and the recognition of Bitcoin as a legal means of payment by many companies and financial institutions around the world. An important role was also played by the opportunity provided to BTC holders to receive Bitcoin Cash (BCH) coins for free as a result of the hardfork that took place on August 1.

In mid-September, against the backdrop of news from China about the ban on ICOs and cryptocurrency trading, a retest of the $3,000 level occurs. From this mark, the next stage of the bull market begins. The popularity of Bitcoin is growing rapidly, it is talked about not only on the Internet, but also on television. This factor, as well as the community's anticipation of the SegWit2x Bitcoin protocol update, pushes its price to $8,000 by the end of the first week of November. Over the next 5 days there is a correction to $5,700.

Bitcoin price rise

Then, on the news of the launch of BTC futures by large American exchanges, an almost recoilless rapid growth began and already on December 7, Bitcoin was trading at $16,500.

In 2 days, having adjusted to $13,000, the BTC rate sets off to conquer a new peak - the latest ATH at the moment was reached on December 17, 2022 and was equal to $19,600 (on Bitstamp). On Bitfinex and some other crypto exchanges, the price was very close to $20,000 and even briefly crossed this level.

Over the next 5 days, the Bitcoin rate corrects below $12,000 and by December 27 rises to $16,000. Over the next three days, the BTC price drops again to $12,000 amid news from South Korea about the authorities taking measures to reduce speculation in the crypto market and closing exchanges.

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On New Year's Eve 2022, Bitcoin is trading in the range of $13,000–$14,000.

2018. Cryptowinter

Bitcoin rate on Bitstamp (2018) // Source: Bitcoincharts.com
Throughout 2022, there has been a correction of the rapid BTC bullrun of 2017. The maximum BTC rate in 2018 was $17,000 - at this price BTC was last traded on January 7. The subsequent fall is again accompanied by negative news from Korea, where the authorities have advocated banning anonymous trading in cryptocurrencies. In addition to this, Facebook is banning cryptocurrency advertising on January 30th.

The fall in the Bitcoin rate continues until the beginning of February and reaches a minimum on the 6th ($6,000), after which a local reversal is observed, which many perceive as the end of the correction and hope for a quick continuation of the bull run.

But after several attempts (at the end of February and the beginning of March) to overcome the $11,800 mark, the Bitcoin rate again goes into a correction, which is aggravated by the news about the ban on advertising of cryptocurrencies on Google and Twitter.

This time, the price of BTC drops to a minimum of $6,500 and after a 2-week consolidation at this level on Cosmonautics Day (April 12), it suddenly rises to $8,000 within a few hours. A new local uptrend begins and by May 5 the Bitcoin rate reaches $10,000.

Bitcoin price change

Unfortunately, the breakout of the bearish trend does not occur, and from this point the rate rushes down again and by the end of June drops to $5,800.

Over the next 4.5 months, the Bitcoin chart continues to draw a triangle, which has already become obvious to many, with the lower edge around $6,000. Where the upper edge of the figure touches, the rate reaches $8,500, $7,400 and $6,600, each time giving the crypto community hope that the bearish market will end, and here taking her back.

As a result, on October 15, a breakdown of the upper edge of the triangle occurs. But it turns out to be false, and after a month of consolidation in the corridor of $6,200–6,500, the Bitcoin rate breaks through the previously seemingly reinforced concrete level of $6,000, briefly lingers at $5,500, and a week later reaches $3,500.

After a slight rebound, the price continues to move down and on December 15 reaches a yearly minimum of $3,200. Then, within 3 days, the price of Bitcoin returns to the area of ​​$4,200. In the last days of the year, consolidation occurs at $3,800.

In addition to the negative news mentioned above for all cryptocurrencies, the Bitcoin exchange rate has been under pressure all year by the epic with constant postponements of the SEC decision on the launch of Bitcoin-ETF VanEck/SolidX on Cboe. Rumors also regularly appeared that the trustee of the bankrupt Mt.Gox exchange, Nobuaki Kobayashi, was draining tens of thousands of bitcoins, thereby pushing the bitcoin rate down.

We also recommend watching our video about the history of the Bitcoin exchange rate:

Bitcoin price history

2019. The end of the downtrend

Bitcoin rate on Bitstamp (2019) // Source: Bitcoincharts.com
At the beginning of January 2022, the Bitcoin rate once again rose above $4,000, but after three days it dropped to $3,500. From that moment until the beginning of February, the price continued move in a downward corridor, the resistance for which becomes the level of $3,300. From this level on February 8, a rebound occurs, marking the beginning of a local uptrend, which has not yet been broken.

Throughout the rest of February and March, the BTC rate shows stable growth with minor pullbacks. According to various estimates, in the period from March 5 to March 25, there was finally an exit from the downtrend that lasted throughout last year.

On April 2, the level of $4,200 was broken and within a few hours the price of Bitcoin reached $5,100. Subsequently, news appeared that the reason for this was the purchase of 20,000 bitcoins by one buyer on several exchanges at once. Many consider this a signal of the return of major players to the market.

Bitcoin rate growth

Until the beginning of May, a smooth growth continues to $5,700. Then, in just a week, Bitcoin reaches the level of $8,400 and continues to grow to $9,100. After a slight correction in early June, the growth continues with renewed vigor and on the 26th of the same month the $14,000 mark was reached. Thus, in just 3 months, the price of Bitcoin increased 3.5 times, once again proving to skeptics that the bubble is not about to burst.

Until the end of September, the Bitcoin rate moved within a triangle, which was seen by many as part of a bullish flag, hinting at a continuation of the trend.

However, after several rebounds from the level of $9,200 - $9,300 and movements to the area of ​​$13,000, $12,000 and $11,000, the lower edge of the figure was broken (09.24.19), as a result of which BTC fell in price to $7,700 in a few days.

It is noteworthy that the day before this, Bakkt, a platform for trading BTC futures, was launched, which, according to everyone’s expectations, was supposed to attract institutional money to the market and thereby provoke the growth of the main cryptocurrency. But, as usually happens in such cases, everything happened exactly the opposite.

Bitcoin blockchain

Until the 20th of October, the rate moved in the range of $7,700 – $8,700, drawing something like a bearish wedge, which, as expected, was broken down. True, the movement was not very massive and after reaching the level of $7,300 there was a sharp jump, as a result of which in two days Bitcoin rose in price by $3,000 to $10,300.

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This pump became the fourth largest in the history of the main cryptocurrency, and its possible reason was said to be the statement of the head of the People's Republic of China about the need to introduce and develop blockchain technologies in the country.

This was the last time in 2019 when Bitcoin traded above $10,000. This was followed by a 2-week flat above the $9,000 level, after which until the end of November the price of BTC steadily decreased down to $6,500. Until the end of the year, the rate moved in the corridor between this level and $7,700.

2020. Another “bull run”

Bitcoin rate on Bitstamp (2020) // Source: Bitcoincharts.com
The accumulation, which lasted the entire last month of 2019, was followed by an increase in the value of Bitcoin almost from the first days of the new year. This trend lasted a little over two weeks (until January 19), ended at $9,200 and coincided with events such as the assassination of an important Iranian general by the US military and the retaliatory missile attack on a US base in Iraq (politics, incl. international, not for the first time they are tied to the BTC rate).

In addition to the aggravation of the situation in the Middle East, one of the reasons for the rise in price of Bitcoin during this period is considered to be the 500 million USDT printed on January 6 (the relationship between changes in Tether capitalization and the Bitcoin rate has been known for a long time).

In the following week, a natural correction took place to the level of $8,200. And in the last days of January, the price of Bitcoin began to slowly rise again, giving hope for the continuation of the upward trend and the renewal of highs, which many expected in connection with the Bitcoin halving, which took place on May 11 and subsequently positively affected the price.

Bitcoin price drop

March 12 went down in Bitcoin history as “Black Thursday”

— the price fell from almost $8,000 to an average of $5,000. At that moment, the cost of the first cryptocurrency dropped to $3,853, and the drop was more than 50% in just one day. Bitcoin returned to the levels it had before March 12 only at the end of April.

This was followed by a flat for three months, and by the end of July, quotes began to rise. The price before the correction that occurred at the end of August was almost $12,000. In August, the price sank by 20% and went flat at a level of $10,000 to $11,000.

Since the beginning of October, Bitcoin has begun a long upward trend that has lasted at least five months at the time of publication. The Bitcoin price has not returned to $11,000 since October.

In December, the first cryptocurrency broke the psychological mark of $20,000 and set a new all-time high, which was last recorded in 2022. After this, ATX updates followed almost every couple of days.

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Bitcoin celebrated the New Year 2022 at $33,000.

2021. Bitcoin native

Bitcoin rate on Bitstamp (2021) // Source: Bitcoincharts.com
In 2022, the situation is reminiscent of the 2022 bull rally, when the Bitcoin rate rose from $1,000 to $20,000 in just a few months. Since that moment, the price of the first cryptocurrency has never returned to $1,000, so this time it may happen that we will never see Bitcoin at $11,000 again.

At the time of publication (mid-February 2022), Bitcoin costs $47,800.

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Since the start of growth in October 2022, the growth of the first cryptocurrency has been 360%.

On February 8, Bitcoin crossed $45,000 and continued to rise, following the news that Elon Musk's company Tesla invested $1.5 billion in Bitcoin and announced that it would accept the first cryptocurrency as a means of payment.

How does Bitcoin cryptocurrency work?

The principle of how Bitcoin works was first published by Satoshi Nakamoto in 2008 in an article that would later be called the Bitcoin White Paper (here is a link to the Russian translation of the document). It describes all the technical solutions that made it possible to create a system of electronic transfers without intermediaries and the need for trust between the recipient and the sender. The presence of such a document has become the standard for all new cryptocurrencies.

In simple words, Bitcoin is a list of users with the amount of cryptocurrency in their wallets. Special software stores a transaction log for the entire history of the cryptocurrency. This information is publicly available; through Bitcoin Explorer you can find any transaction starting from the creation of the cryptocurrency. For example, you can look at transactions in the very first block, which was recorded back in 2009:

First reward for mining Bitcoin - 50 BTC

Suddenly a lot of new terms appeared, now we’ll deal with them. Let's start with what exactly happens when bitcoins are sent:

1. A message about changes in the balance of the sender and recipient is sent to the network.
2. The system decrypts the digital signature and verifies the owners.
3. If everything matches, the transaction is confirmed.
4. All translations that are correct from the system’s point of view are recorded in information blocks.

In the example, we looked at the transaction in the very first block, there are several hundred thousand in total, and the blocks with information about confirmed transfers are in chronological order. The technology (without exaggeration, revolutionary) is called blockchain - translated as a chain of blocks. Schematically it looks like this:

What are the advantages of blockchain? In an almost perfect system of protection against attackers, there are only a few very difficult to implement ways to hack the blockchain, for example a 51% attack. Every transfer on the Bitcoin network is recorded in blocks on node computers that keep a history of transactions. For this reason, the blocks of information on each device will be similar, but for some users there will be differences - due to network errors or attempts to “complete” extra bitcoins.

The correct block is selected automatically using a consensus algorithm - a mechanism for verifying the authenticity of balances, transactions and signatures. This is a democratic process, essentially an automatic election - a block of information without errors always wins by majority vote. Bitcoin uses the Proof-of-Work , which allows you to protect the cryptocurrency network from abuse by solving a complex mathematical problem (specifically, calculating the SHA-256 function) to obtain the right to add a new block of information. For this reason, an attacker will not be able to spam the blockchain with false information, only people who actually support the operation of the network - miners - have access to adding blocks, and the process of “work” itself is called mining. And even if you become a miner and try to add the wrong transaction to the blockchain, other miners simply will not confirm it.

I think you’ve definitely heard about Bitcoin mining, and yes, you can make good money on it: for adding a block, the Bitcoin network pays miners 6.25 BTC every 10 minutes . Only one miner out of thousands around the world receives the reward randomly, but you can increase your chances by building a mining rig with high productivity:

Mining is the only source of new bitcoins in the system, but it has limitations: the total number of bitcoins will never exceed 21,000,000. For this purpose, a halving is done every 4 years - reducing the reward for mining by 2 times. According to forecasts, the next one will occur in 2024 and instead of 6.25 BTC, the reward will decrease to 3.125 BTC.

Bitcoin rate today

Current bitcoin rate
For the last two years, the bitcoin rate has made members of the crypto community quite nervous - during this time there have been both dizzying ups, instilling faith in the eternal “native moon,” and protracted drops, hinting that the “bubble has burst.”

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At the time of publication (mid-February 2022), Bitcoin is trading at $48,000.

This Bitcoin rate is quite comfortable for most market participants who are tired of the downtrend, since it strengthens the hope for continued growth with further conquest of new peaks.

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You can find the current Bitcoin rate on CoinMarketCap

Bitcoin to dollar exchange rate

Bitcoin to dollar rate
On most major cryptocurrency exchanges focused on the US and Europe, the main rate is Bitcoin to the dollar or to its virtual analogues - stablecoins.

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Moreover, the difference in the cost of Bitcoin on such sites rarely exceeds 0.5%, except in cases of obvious manipulation.

Smaller exchanges focus on market leaders, preventing the Bitcoin exchange rate from falling too far behind the dollar, using trading bots to adjust. This is also helped by a community of traders who react to emerging arbitrage opportunities and quickly eliminate them with their orders.

Thanks to this balancing, you can consider the Bitcoin to dollar exchange rate without being tied to any specific exchange, since it is approximately the same everywhere.

Bitcoin to dollar exchange rate

At the time of writing, the average price for 1 BTC is $48,000.

Bitcoin to ruble exchange rate

The Bitcoin to ruble exchange rate chart generally follows the movements of the BTC/USD pair. However, due to the fact that the value of the Russian currency is also constantly changing in relation to the American currency, some differences are still observed in the charts.

Bitcoin to ruble exchange rate

Now (mid-February 2022) the Bitcoin to ruble exchange rate is 3,515,027 rubles.

The BTC/RUB pair is not very popular among traders. The main reason is that the opportunity to buy and sell bitcoin against the ruble is available only on exchanges aimed at residents of the CIS (CEX.io, YoBit, Kuna, Exmo, Binance).

How to make money on Bitcoin: with and without investments

The cryptocurrency market offers a wide variety of ways to earn money, and most of them are associated with Bitcoin. Some require some investment, and some are free to use - so each of you can find the right option. In this article, I will briefly talk about the five most promising ways to earn income from bitcoins, and you will find the full list in the article Review of 22 options for making money on cryptocurrencies.

Method No. 1: Trading on crypto exchanges

Spectacular ups and downs Bitcoin is a paradise for traders who can increase their investments several times over a short period of time. To successfully trade BTC, it is best to work through a cryptocurrency exchange - they have the highest liquidity and the best purchase/sale prices. Thanks to partnerships with some exchanges, I can offer blog readers discounts on commissions on exchange transactions:

If you are interested in cashback, that is, discounts on crypto exchange commissions, register using the links above. In this case, be sure to make sure that the Referral ID field looks like this (using Binance as an example):

If the referral ID is correct, you will see a message about receiving a discount on commissions. At the same time as receiving bonuses, you will also financially support the Webinvestor Blog, which will allow me to continue working on new publications.

To successfully trade on crypto exchanges, you need a certain theoretical training and a large amount of experience - therefore, this method of earning money is not suitable for everyone.

Method No. 2: Copying transactions of crypto traders

For those who do not have the time and patience to train as a trader, there is cryptocurrency copy trading - for a fee, a professional market participant will send you their trades in real time. Here are the sites where you can find such traders:

Based on my experience of investing in various trading strategies, I recommend selecting them according to the following criteria:

• history of public trading - more than 3 years;
• maximum drawdown - up to 50%;
• smooth growth of the profitability graph;
• Martingale and similar strategies are not used.

The skills and qualifications of traders can only be tested by time, so don’t be fooled by beautiful charts, but try to evaluate a person’s professionalism and the predictive effectiveness of a trading strategy.

Method No. 3: Long-term investing (HODL)

The simplest and historically more than effective way to make money on Bitcoin. People who bought cryptocurrency several years ago and still haven’t sold it today have hundreds and even thousands of percent profit. Of course, history does not always repeat itself, but even in the not very successful year of 2022, the price of BTC almost doubled.

Why does the price of Bitcoin fall and rise?

The fall and rise of the price of Bitcoin
If you carefully read the above review of changes in the value of Bitcoin throughout its history, you should have noticed that each serious jump in the price was followed by an equally serious correction, after which a new stage of growth began. That is, everything happened cyclically - the “bubble” periodically inflated, then collapsed, and eventually grew even stronger.

Oddly enough, such movements are characteristic not only of Bitcoin. If you look at the charts of some long-lived assets of stock exchanges, for example gold, you will immediately be struck by the paradoxical similarity of periodically repeating stages of growth and decline. The only difference is the time intervals.

Gold chart

It is generally accepted that the value of any asset is formed from the existing supply and demand ratio in the market. However, the real reason for the rise and fall of prices lies in the theory of market cycles. In short, it is based on the execution of standard scenarios by market makers - accumulating an asset, attracting the attention of the crowd, taking profits and sending the price to the zone where they can make repeated purchases, shaking out assets from “weak hands.” And so on in a circle.

Bitcoin has already had at least five such cycles.

Bitcoin rate manipulation
How do they do it? Manipulation schemes that have been developed over decades in stock markets come to the rescue, in which national governments, large financial institutions and, of course, the media play a significant role.

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We recommend: review of the CoinMarketCap website

Pay attention to the news background that accompanied all the described stages of Bitcoin’s growth and fall in each repeating cycle. Almost always, at first there was a build-up of euphoria with a positive picture, which forced the crowd to buy, and then, when the drain began, the belief that everything was lost and needed to be sold was instilled, that is, FUD was launched.

News background

The last bullrun and the subsequent correction were no exceptions to the rule. Remember what the atmosphere was like in the market in the last months of 2017 - people all over the world took out loans to buy Bitcoin, the rate of which almost without fail “flew to the moon”, and this was trumpeted absolutely everywhere - on the Internet, on TV, on the radio . The same thing is happening now in 2022.

Then, throughout 2022, an atmosphere of desperation and disappointment reigned on the market, fueled by regularly appearing news about exchange hacks, the ban of cryptocurrency, if not in China, then in India or Korea, the SEC’s constant postponement of consideration of applications to launch Bitcoin-ETFs, and price collapses by the villain Nobuaki Kobayashi.

When the correction ended and a new stage of growth began, every now and then we heard about testing Bitcoin futures on the Bakkt platform, the creation of Facebook’s own cryptocurrency and other news that fueled the “bullish” sentiment in the market.

Convenient, isn't it?

In addition to direct manipulation, it is also worth mentioning insiderism in circles close to market makers. Large purchases or plums of whales who learned about upcoming plans for the movement of the market often became the very impetus that set its direction.

FOMO in the Bitcoin market

Although the influence of crowd psychology should also not be forgotten. After each upward trend reversal, investors, exhausted by a long crypto winter and impoverished due to a feeling of lost profits (FOMO), rush to hastily buy Bitcoin, the rate of which suddenly began to soar, thereby continuing to push it in the direction the market maker needs.

Such crowd behavior is an equally important component of market cycles, in which, by the way, you should not see any malicious intent. After all, the market was created to speculate, and all these movements are simply necessary for its organic existence. Each correction gives the market time to rest and gain fresh strength before the next upward surge.

Bitcoin exchange rate analysis

In general, having analyzed the main reasons for the rise and fall in the value of Bitcoin, most of them can be classified into the following categories:

• Alternation of market cycles;
• Unexpected large market purchases/sales, setting the local direction of the Bitcoin rate, and other manipulations by market makers;
• Significant events in the world of cryptocurrencies (exchange hacks, bans in certain countries, transfers of decisions on ETFs, etc.);
• “Waves” of negativity/positivity spread in the media;
• Correlation between the stock and cryptocurrency markets (flow of “smart money”);
• The level of popularization of Bitcoin in the world and individual countries (against the backdrop of economic problems, devaluation of local currencies, etc.);
• The emergence of new players (institutions, government agencies, regulators) and financial instruments (futures, ETFs, ETNs) in the market;
• Technological events in the main Bitcoin network that affect the number and profitability of miners (hard forks with the release of new independent cryptocurrencies, halvings, critical protocol updates, etc.).

Putting knowledge into practice

Have you decided that theory is enough and it’s time to start practicing? In this short section we will give two of the most common examples of “involvement” in the world of cryptocurrencies.

Have you decided to become a cryptocurrency investor?

1. You have saved 10 thousand rubles from your salary and want to buy Bitcoin with it.
2. Install your wallet. Coinomi will do right on your mobile phone.
3. Install the application - iOS/Android.

Coinomi wallet

4. We select the necessary cryptocurrencies, for example Bitcoin.

Coins in Coinomi

5. Be sure to make a backup copy of your wallet. In Coinomi, to do this, you need to click on the inscription at the top “Wallet not backed up TAP TO START”, and then securely save the backup phrase. Remember that any unauthorized person using a backup phrase will have access to all your funds.


Recovery phrase for Bitcoin in Coinomi

6. Go to the Receive tab. Your wallet address is shown here.

Receiving coins in Coinomi

7. We buy Bitcoin for 10 thousand rubles through a Telegram bot and send it to our wallet address, which is shown on the Receive tab.

Hooray. You are now a crypto investor. All that remains is to wait until 1 Bitcoin costs one million dollars.

basic information

Resource capabilities:

Or fill out the following fields manually and then click “Register”.

At the next stage, you are asked to add a photo (this is not necessary) and change the automatically set username (taken from the email address).

Any new user can select the subscription he is interested in on the tariffs page and activate it absolutely free for 30 days.

To do this, you need to verify your account using your phone number.

Next you need to enter card information.

Be careful: after a month, money will be automatically debited from your card to renew your subscription, so if you subsequently do not need it, you must cancel it before the specified period.

When you sign up for a trial subscription, $1 will be charged from your card to verify it.

After filling out the data and clicking on the “30 days free” button, funds in the amount of $1 will be automatically debited from the card and will be returned in the account currency at the same second.

After this, you can begin to fully work with the TradingView website.

By the way, you can also pay for your subscription in bitcoins. But in this case no discounts are provided.

What else you need to know about purchasing a subscription

If you wish, you can cancel your trial subscription in one click - to do this, you need to go to your profile settings on the TradingView website, open the “Invoice and Payment” tab and click “Cancel automatic renewal”. If you forgot to do this, and after the trial month the money for the next month was debited from the card, then you will not be able to return it. This is considered the user's fault.

But if after the end of the trial subscription you were charged for 1 year, you can return it within 14 days by filing a request with technical support.

You can renew your subscription at any time, but only for a billing period of the same length or longer. All unused days are automatically converted at an equivalent cost to additional days in the new rate plan. You cannot downgrade your subscription level.

An important point: TradingView takes data not only from free sources, but also from exchanges to which access is limited. Access to such exchanges can be purchased separately in your profile settings; TradingView will not earn anything from this. By default, such services are not included in the paid subscription. Therefore, even in the paid tariff, data may be displayed with delays. Fortunately, this does not happen with cryptocurrencies; it applies more to traditional financial instruments.

Account Profile Settings

To go to your TradingView account settings, you need to click on the account name in the site header and select “Profile Settings.”

Here you can specify public and confidential information about yourself. Public includes a nickname, avatar, signature, a short story about yourself, place of residence, website address and/or Twitter account. Confidential – email, password, real name and surname, phone number, postal address, INN. The second category of information will not be available to anyone except site employees in situations where such a need arises.

In the “Invoice and Payment” settings section, you can specify your payment details, currently active subscription, and account purchase history.

On the “Notifications” tab, you can choose which notifications and where you want to receive them (on the website or by email), and also enable or disable sound notifications.

On the “Security” tab, you can enable additional measures when logging into your TradingView account. This includes two-factor authentication via app or SMS, as well as backup codes if you don't currently have access to your phone. This page also tracks your browsing history and information about devices and login IP addresses.

Social network TradingView

The social component is one of the main components of this TradingView platform. It includes ideas, videos, chats, graphs, reputation. All materials can be liked, reposted, commented on, and used for yourself (with the permission of the author). Some users are distinguished by distinctive signs:

• The MOD badge means moderator. You can contact him for help if you have any questions.
• The TOP badge is assigned to the best authors. To get it, you need to interact with the community - communicate, publish materials, react to other people’s materials, earn a reputation with honest and truthful forecasts.
• A colored badge means that the user has purchased a paid subscription. Green for PRO, blue for PRO+, orange for PREMIUM and gray for free trial.

Even if you have multiple badges, only one is displayed. TOP always has the highest priority.

To communicate, users can create public chats on suitable topics. Anyone can create their own chat, but it is recommended to first check if there is one so as not to repeat it. At least 5 users must enter the chat daily and write at least one message, otherwise it will be deleted.

Published ideas (your own and others) can be shared not only within the TradingView platform, but also reposted on external resources - social networks, websites. They are built into websites using code.

Live Streams are currently being beta tested. Those interested can try the feature now https://www.tradingview.com/streams/.