Buy Bitcoin at the Best Bitcoin Price

Buy Bitcoin

So, you want to buy bitcoin at the best bitcoin price? This is a tricky and relative situation. Below, I will explain a lot of things to help you better understand the bitcoin price history. What is happening since the highest bitcoin price ever and more.

By the end of this article, you should be able to answer the question, what is the best bitcoin price and when should you buy…

Bitcoin came to exist in 2009, created by an anonymous developer by the name of Satoshi Nakamoto. Before considering investing into Bitcoin, you should spend a little time and read the Bitcoin Whitepaper. Reading the whitepaper will help you understand why it has become so popular.

Bitcoin Price History

Since 2009, Bitcoin has seen an entirely new era of technology take shape. Originally, the price of Bitcoin was pennies. Bitcoin has grown in value due to several factors. First, lets look at the historical Bitcoin Price trend.

Bitcoin Price 2009: Less than 1 cent

2011: $32

2013: $1,200

2017: $20,000

Bitcoin’s price pattern has been a steady incline over time. With crashes of around 86% in between the newest high and newest low. A system of ebbs and flows that are dictated by supply, demand and sentiment.

Bitcoin Halving Events

Looking at the image below from https://ihodl.com, you will see the Bitcoin Halving history. The halving is a deflationary algorithm coded into Bitcoin that cuts the mining yield in half. The lowers the supply moving forward as demand rises.

You will see in the chart above that while the Bitcoin price has consistently risen, there is a great deal of volatility as well. The price appears to rise up after a halving event into new all time highs and then come down about 86% and repeat itself.

Buy Bitcoin Price

Bitcoin Stock To Flow Chart

You can see on this live Bitcoin Stock To Flow Chart that as Bitcoin’s supply is cut in half, the price rises to catch up. This is based on a calculation of how much Bitcoin exists currently against the production yield and total supply ever to exist.

At the time of this writing, the 18,000,000th Bitcoin has been mined out of a total of 21 million. The final Bitcoin to ever be mined is expected in 2140.

Bitcoin Price Today

The Bitcoin price today has been hovering around $8,000 from a low of $3,100. We are 6 months away from the next halving event which analysts expect will be cause for a steady increase in price from here to new All Time Highs in 2020 through 2022. Nothing in Bitcoin or cryptocurrencies are certain regardless of history, however, the question is, what should you buy Bitcoin?

Many analysts try daily to predict the price of Bitcoin. The price of BTC can rise or fall 25% in a single day, or more. Investment into BTC isn’t just about trying to scalp profit short term. Many that buy Bitcoin consider it digital gold, or a store of value and tend to look at Bitcoin as a deflationary commodity because there will only ever be no more than 21 million to exist, ever.

What is Blockchain Technology?

Blockchain technology replaces the middle men, or banks, in financial transactions and more. If you send me a check or use your credit to make a purchase, you are creating a transaction that your bank must note on a ledger system. Funds from one place went to another. The bank will charge you a fee for keeping track of this and could make an error, or a variety of mistakes that could cost you.

Bitcoin is sent from one wallet address to another and these transactions are entered into the blockchain to be confirmed by miners. There is no middle man and the transactions are transparent with a clear record that is broadcasted to the network.

There is a great deal more to this impressive technology and I encourage you to learn as much about it as possible.

2nd Generation Blockchain Technology

Bitcoin is first generation blockchain and has proven itself secure and is a trusted store of value. Today, we have seen the introduction of the 2nd generation of blockchain which involves smart contracts. A smart contract, also known as a cryptocontract , is a computer program that directly controls the transfer of digital currencies or assets between parties under certain conditions. Smart Contracts have opened the space for a wide variety of applications on the blockchain (Dapps), or Decentralized Applications.

3rd Generation Blockchain Technology

After the 2nd generation of blockchain technology introducing smart contracts and Dapps, we are now entering the 3rd generation. The 2nd gen of cryptocurrencies while innovative can become slow and pricey. They may lack the ability to scale easily which is a must for enterprise level use.

Projects currently in development today are looking to address all of these 2nd generation issues. One of the more standout 3rd generation projects is Cardano (ADA). The Cardano project is being lead by Ethereum co-Founder Charles Hoskinson and is slated to launch it’s staking and smart contract protocols in the first quarter of 2020.

The overall point of this article isn’t to dictate the best price for purchasing Bitcoin or any other cryptocurrency. Rather, to educate you enough to inspire you to further your research into the space.

Is Blockchain technology here to stay? Bitcoin price predictions based on the Stock To Flow chart say we will see a $100,000+ Bitcoin price in 2020. Over a million dollars by 2025. If this were to become fact, what would you say is the best bitcoin price?

When you think you’re ready to Buy Bitcoin, setup your account at CrowsNestEx.com and get started.