The Booster

Bitcoin Boom

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<> on October 23, 2017 in London, England.

<> on October 23, 2017 in London, England.

Dan Kitwood

Dan Kitwood

<> on October 23, 2017 in London, England.

Wyatt Davis, Junior Staff Writer

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A virtual currency called Bitcoin surfaced in January 2009.  Little did Satoshi Nakamoto, the first bitcoin owner, know he just started something huge.  Bitcoin has came a long way since it first appeared.  In 2009 the year it came out bitcoin was virtually worth nothing.  Just a year later the price of an it was merely a dollar but never broke the line.  In 2012 it really began to see a change in the prices.  Just in that year it was just under ten dollars a coin.  About 2014 the bitcoin price has raised to a little under a thousand dollars a coin.  The price of the coin declined to a low price until the present day where it is at a booming price of $120,000 per coin.  What had caused the up and down prices over the years would be the same factor of any product, the supply and demand.  Another factor that has increased the price has been the general interest of the public.  Why choose bitcoin over a regular bank account?  Bitcoin wallet is more secure than a money in the bank.  Many consumers also choose bitcoin over banks when some banks closed down and all the money in their accounts were lost.  Just like any other asset to invest in Bitcoin is risky in its own ways, but when looking to invest in something Bitcoin is a great idea.

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