PK Press Club – Fifteen years ago today, the cryptocurrency market was a different landscape. According to historian Pete Rizzo, 15 years ago on this date, you could buy 1 Bitcoin (BTC) for just $0.50. This extremely low price of 50 cents stands in stark contrast to the current value of Bitcoin, currently at six figures.
In January 2010, Bitcoin was still in its infancy, with little awareness and a low price. Launched a year earlier, in January 2009, by its pseudonymous creator(s) Satoshi Nakamoto, Bitcoin was at the time a niche innovation discussed exclusively among crypto enthusiasts and a few early adopters.
The first known Bitcoin transaction took place in May 2010, when programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas. Bitcoin, the world’s largest cryptocurrency by market capitalization, has come a long way since its humble beginnings.
Fast forward to today, and the value of Bitcoin has skyrocketed. From a price of $0.50 15 years ago, Bitcoin has reached all-time highs, with prices reaching six figures. At the time of writing, BTC was trading above $106,000.
Bitcoin hits new record; what the indicators say
Bitcoin hit a new record high early in Monday’s session, reaching an all-time high of $109,358. Bitcoin rose from a low of $99,416, showing a major green daily candlestick.
At the time of writing, BTC was up 2.21% at $106,960, according to CoinMarketCap data.
On-chain analytics firm Glassnode reported that as Bitcoin approached a new all-time high above $109,000, long-term holder NUPL crossed the 0.75 threshold, associated with the phase market cycle euphoria/greed.
A resumption of short-term holder profitability momentum has been observed, as expressed by BTC’s STH MVRV, currently at 1.16 – above the one-year trendline of 1.1. A notable rise in the perpetual funding rate of Bitcoin futures was also observed, reaching around 0.035%, the highest level since December 5.
