Bitcoin has been a hot topic since its inception in 2009, and its price has been fluctuating ever since. In 2017, the price of bitcoin reached an all-time high of almost $20,000, which brought it into the mainstream media. However, four years ago, in 2017, the price of bitcoin was significantly lower than it is today.
On August 1st, 2017, the price of bitcoin was around $2,700. This was a significant increase from the beginning of the year when the price was around $1,000. The increase in the price of bitcoin in 2017 was mainly due to the increasing demand for cryptocurrencies, and more investors were entering the market.
In 2017, many countries, including Japan and South Korea, were starting to accept bitcoin as a legal payment method, which made it more accessible to the general public. This increased adoption led to an increase in demand, which in turn led to an increase in the price of bitcoin.
At the time, bitcoin was also becoming more mainstream, and more companies were starting to accept it as a payment method. For example, in 2017, Microsoft announced that it would accept bitcoin for purchases made in the Windows and Xbox stores.
The price of bitcoin continued to rise throughout 2017, reaching its all-time high of almost $20,000 in December of that year. However, the rise in the price of bitcoin was not sustainable, and it soon began to drop. By January 2018, the price of bitcoin had dropped to around $10,000, which was still significant compared to the price four years earlier.
There were several reasons for the drop in the price of bitcoin in 2018. One of the main reasons was the increasing regulatory pressure on the cryptocurrency market. Many governments around the world were starting to regulate cryptocurrencies, which made it more difficult for investors to trade bitcoin.
Another reason for the drop in the price of bitcoin was the increasing number of hacks and scams in the cryptocurrency market. Many investors lost their money due to these scams, which led to a decrease in demand for bitcoin.
Since 2017, the price of bitcoin has continued to fluctuate. In 2021, the price of bitcoin reached a new all-time high of over $60,000, which is significantly higher than the price four years ago. The increase in the price of bitcoin in 2021 was mainly due to the increasing institutional adoption of cryptocurrencies.
In conclusion, the price of bitcoin four years ago was around $2,700. Since then, the price of bitcoin has fluctuated, reaching an all-time high of almost $20,000 in 2017 and a new all-time high of over $60,000 in 2021. The price of bitcoin is highly volatile and is affected by various factors, including government regulations, adoption by institutions, and market demand.