Current price of 1 bitcoin


Bitcoin (BTC)

$ 20,161.40

Do you know you can buy bitcoin in fractions easily, quickly and safely from Bit2Me? In just a few minutes, and with a € 5 gift on your first purchase.

Millions of people all over the planet access the digital currency that is transforming the world into its fractions, the satoshis. Invest in bitcoin it is as simple as acquiring satoshis for the desired amount. It doesn't matter if it's twenty euros or a million.

Making money with bitcoin means buying them at a price, and selling them when their price is higher. With Bit2Me you can buy and sell bitcoin, plus many others cryptocurrencies, .

We also explain in detail how bitcoin works

How is the price of a BTC determined?

If in January 2010 you had bought € 100 of bitcoins and sold in November 2013, the value would have been € 120.000.000. Not bad at all, right? Go from € 100 to € 120 million, in just 3 years. And all this with an investment of laughter, it seems like a dream. But the truth is that with bitcoin and its price increases it has been possible. In fact, in 2021 bitcoin has managed to break the barrier of US $ 60.000.

Now surely you will ask yourself: How is the price of BTC determined? Not only has it happened and can be explained, but many think that the situation may repeat itself in the future.


As we have explained, Bitcoin is a distributed financial system, released in 2009 by a programmer under the pseudonym of Satoshi Nakamoto. It is not issued by any government or company (although it is increasingly supported by them) and is considered legal tender in almost no country to date (although it is already beginning to fit into existing legal frameworks, such as the recent ruling that determines the Bitcoin exempt from VAT throughout Europe).

Bitcoin is powerful and a masterpiece of engineering (or as Bill Gates says of him: "a technological feat"). But, how much is a bitcoin worth? Why does its price go up and down so many times a day? Who determines its price? How safe is that price? Is it a scam, ponzi or strange mechanism to steal my money? money?

Bitcoin as money

As we all know, money is what is accepted as a means of payment for a good or a service. Money is often served as a unit of account and store of value among other characteristics.

But ... wait! If a currency is not accepted as a means of payment, no matter how great it is as a unit of account, and whatever you want… is it worth anything? That is why the value of money is not linked to its acceptance, but is directly related.

El fiat money (denomination of the official fiat currency issued by a government, such as euros or dollars) as we know it today, they are nothing more than bills and coins without their own value, since 1971 they are not backed by the value in gold. They are endorsed and certified only by their issuing entities.

Currently it is the governments, through imposed laws, who determine what is the type of legal tender. But it is other entities, such as central banks and mints (CECA), that take care of everything. First, to regulate and control the monetary policy of an economy. Second, to create the coins and bills according to the demand and the need to have physical and electronic money. They can print and mint as much as they want and when they want.

No matter what time frame of history you choose, this model has proven to fail time and time again. Just look back at what has happened only during the XNUMXst century: financial crises, corralitos, uncontrolled inflation, etc.

The currencies issued by central banks are necessary so that they can apply, in an opaque way, specific economic policies. This leaves the fate of millions of people to the whim of a few. A click, literally, can generate new millions of euros in a computer that devalues ​​people's purchasing power.

Paradoxically, most of us see fiat money as a solution. But the reality is that it is something like a yoke that subjects us to the wishes of a few. At the same time that they make us participate in wars and excessive barbarities over and over again.

And it is that, as we already explained, Bitcoin has better properties which fiat money. This with bitcoin and other virtual currencies or cryptocurrencies is impossible. It is because emission control is decentralized and nobody controls it.

summary table with a comparison of Bitcoin with two types of traditional money

Offer and demand

But Who determines the price of a bitcoin (BTC)? It is determined by everyone who wants to participate in the buying and selling process, in essence its users. Although multiple factors play a role, ultimately it always determines your price. Trading bitcoins allows you to distribute it and profit from it. As in other scenarios, producers (in the case of Bitcoin: miners) can propose a price when selling their bitcoins to interested parties by reaching agreements. Imagine the typical deals between two people, one proposes a price and if the other, between haggling, is willing to accept it then the transaction is made.

This can be done on the street, and it is done. But, in a computerized world like ours, it is more common to see this type of deal on specialized online platforms optimized for it. The known "Bitcoin trading platforms".

Unlike a buy-sell website, which has its prices stipulated as in Bit2Me, in a trading platform anyone can publish a purchase proposal at the desired price.

In the trading markets you also have no obligation to buy a whole bitcoin, you can buy pieces. Remember that 1 bitcoin is made up of 100 million “cents” (satoshis). If a Bitcoin is worth € 1000, you can buy 1 euro if you want.

When another offer to sell matches yours, the transaction is automatically made. This purchase - sale operation makes, only on that platform, the price of bitcoin is set at the price of the exchange made.

This that we have just described is the same process in which all the commodities that exist are traded. And it happens tens, hundreds or thousands of times per day, sometimes with great variations.

This type of operation requires a minimum of study and previous tasks, which, although at no cost, not all users are willing to do.

For many users this part of Bitcoin is not attractive and even repels them, since it seems that it does not contribute anything and most of the time it is just speculation. Buy low and sell high. But the truth is that this model is causing Bitcoin to spread and reach more sites.

The value of bitcoin has been changing over time and is based, roughly, on the trust of its users, on its usefulness and popularity.

It means that, in 2010, the value of a bitcoin was less than a cent of a euro, as many still doubted its safety, efficiency and, ultimately, its acceptance.

This operation of determining the price through the purchase - sale is not different from what happens in other sectors: legal tender currencies (Forex), raw materials, bonds, ... But in Bitcoin it has a double objective, since this at the At the same time, as it is something digital, it has been key to its capillarization, with bitcoins reaching more people.

The value of a bitcoin, just like anything you can imagine, fluctuates in value every second. And I repeat, like anything. Do you think the value of the euro is stable or any currency? Enter a Forex market and see for yourself, every moment its price changes, and the same happens with everything: stocks, metals, ... even tomatoes! We live in a dynamic world, everything goes up and down every second, even if you don't realize it or it's not so high-profile.

There is a lot of travel. What would happen to the price of Bitcoin if tomorrow Amazon decides to accept it as a means of payment? Nobody knows what will happen, not even if it will happen, but it is possible that it will happen the same as with thousands of large companies, countries, ...

There is no official or unique price for bitcoin

Once the above has been explained, you will understand that since there is not a single platform in the world where to trade (there are many and each one can have its operations) there is no world or unique price of bitcoin.

However, they tend to equate. When there are very large differences in the prices of two exchange houses, there are those who take advantage of this price difference to buy in the exchange house with a cheap price and sell in the expensive one. This, which is something that is done on a daily basis, is known as arbitrage, resulting in price homogeneity on the different exchange platforms in just minutes.

However, not in all sites it occurs, especially in places with great access complexity. For example in Africa, where it is more difficult to access bitcoins, local users can exchange them at a very different price than in Europe and be equally attractive because the local community is useful at that price.

Bitcoin as a means of payment

Something curious about Bitcoin, despite not having changed its source code excessively since its inception, is that it went unnoticed for a long time. Furthermore, the few who did pay attention to it did not take it seriously enough to be a firm alternative to the traditional financial system.

For more than a year a bitcoin was worth absolutely nothing. It was a currency that very few users, curious or visionaries as a whole, sent each other as a reward for useful or funny answers in forums.

The first bitcoin price in history occurred on May 22 of the 2010. This was on the forum BitcoinTalk, where the user jerks decided to buy the user two pizzas with his credit card Laszlo in exchange for 10,000 bitcoins, possibly with an exchange rate of 1BTC = $ 0.003.

This simple fact was the spark that ignited an accelerated process of appreciation. The then holders of bitcoins realized that they could access goods or services with their current cryptocurrencies, to date without economic value, making it clear that Bitcoin definitely had the capacity to become what its ideologue and creator, Satoshi Nakamoto, had proposed: an alternative and improved global financial system.

This caused many people to sell bitcoins that previously had no value for a few euros. Go figure! You have 10.000 bitcoins that you have obtained for free or for one euro, and suddenly you can get 100 € for everyone. You, without being a fortune teller, what would you do?

Only some visionaries (or, surely, mostly confused) could find themselves in situations like those of 2013, with millions of euros in their hands or trying to find a computer with thousands of bitcoins that had been thrown away by mistake. Despite that, 2013 was a year of many new millionaires thanks to Bitcoin.

Bitcoin price history

After 10 years of its creation, Bitcoin is also characterized by its high volatility. Throughout its short, but intense existence, a single bitcoin has gone from literally nothing to almost $ 66000. Exchanges or cryptocurrency markets can show us a very detailed history of how the BTC / USD pair has evolved throughout this time. All this information can help us choose the best time to invest in bitcoin.


As we have already explained in the article: What is mining bitcoins?, in Bitcoin, bitcoin appears as a reward to miners. The reward, stipulated in the open source of Bitcoin, is divided in half every 210.000 blocks, approximately 4 years if one takes into account that each block is mined every 10 minutes on average.

This event of dividing the reward in half every 4 years or so is known as Halving. Every bitcoin that exists was owned, first of all, by a miner and it is the way in which the 21 million bitcoins that will exist.

There are those who believe that after a halving the price of bitcoin in the markets rises due to the cause - effect it generates in the ecosystem.

Bitcoin issuance

External events

In a supply and demand system, every internal and external event has an effect on price. There are many positive and negative events that have occurred in Bitcoin, for example one of the most dramatic was the case of MT. gox, which to this day is still unsolved: The largest and most famous Bitcoin exchange MT. Gox shows a blank page on its website on February 24, 2014, leaving a debt of more than 850.000 bitcoin to its users, valued at more than 450 million US dollars at the time.

These events of fraud and theft of cryptocurrencies in specialized markets they leave their mark on traders, and consequently on the price of bitcoin, usually in proportion to the echo that the media makes of the event.

These events, which have little to do with Bitcoin and its technology, affect its reputation, especially when the media consciously or unconsciously link it to failures in Bitcoin without explaining in detail what happened.

The miners

What influence do miners have on the price of bitcoin? The miners are an essential piece in the ecosystem and also their generalized position can produce rises or falls in the price in some way. But more than setting prices, they usually show the consequences. Just look at the active node map, and see how they disappear nodes. when the price of bitcoin is low. Many of them simply log out because the reward is not enough to cover expenses and make a profit.

The miners are related to the price by pure logic. The price of each bitcoin is represented by its mining value. But its mining value is not always the same. Due to the dynamic complexity of mining Bitcoin, it can cost more or less depending on the competition. Mining has high electrical consumptions and these consumptions have a cost. In this way, if demand suddenly skyrockets, mining will be so profitable that many other miners will want to make money, and when they start mining they increase the complexity of mining, with which the cost will once again approximate what people are willing to to give for each bitcoin, since if not, it would not be profitable.

This model generates a tug of war that makes the price of bitcoin always supported by its cost of being mined, so that bitcoin has an intrinsic value, and is not fiat.

Bitcoin is characterized by having, and is one of its best assets, the most powerful computer network on the planet. What would happen if a large part of the mining nodes disappear overnight? Would this affect its price?

Technically, the network would readjust instantly and follow its normal course, but possibly a similar event would affect the price, due at least to the media echo generated.

Halving are curious events, because in theory they eliminate many miners at a stroke because the cost of mining does not compensate, unless the price of bitcoin doubles.

But the reality is not that simple. Of course the miners want high prices, their rewards and commissions are received in bitcoins, but on the other hand, without miners, the Bitcoin network loses strength, which in turn, and after a "butterfly effect", causes the price of bitcoin to fall. devalue.

We must also remember that a Bitcoin transaction has a commission, and miners can always determine which transactions they accept based on the commission. In terms of decisions and policies, they can determine the price of bitcoin.

The volatility

You're probably wondering as if such a volatile coin can work. If something characterizes and scares Bitcoin is just that, volatility. This is what increases the price of Bitcoin, or lowers it. This means that today I can have € 100 and tomorrow I can have € 80 or € 120. Surely you ask yourself: How can such a system be reliable?

It is very important to understand that Bitcoin was born in 2009. Every new exchange of value suffers in its first years of volatility, and Bitcoin is not on the fringes of it. Volatility starts from speculation. Every day thousands of people try to buy low and sell high. When a person buys and later sells, it is making it reach other hands, which repeated millions of times together with media activity generates millions of new users reaching him. This is just what is happening.

Something that at first seems absurd and pure speculation generates the propagation of it, with the joys and sorrows of speculative decisions on exchange platforms. Would Bitcoin have become so famous if people didn't see it as a means of investment? It has many advantages, but for it to really make sense it has to be a global system. To achieve this, it has to go through a few years of expansion. One that will allow its users to enjoy their full potential. Let's remember that there is no multinational or government interested in forcing us to use it or put it through the eyes in constant advertising to gain users with whom they will later profit, which is why this constant rise and fall of Bitcoin for the moment seems to be working in its expansion.

Bitcoin price future

It is not a simple task. It is of little use to analyze the current and historical price if it is not to observe a trend throughout its history.

Despite the fact that Bitcoin uses technology superior to that used by governments and banks, nobody knows what may happen in the future. We do not know how technology will evolve, energy consumption, ...

3 out of 4 bitcoins that will exist are already on the market. Here you can see a real graph of how they have been issued and how many bitcoins are in circulation.

And of those 3, estimates indicate that 3 out of 4 bitcoins are being used as savings, as a store of value. If you also tell that many have been blocked forever by lost private keys. With this, the result of real bitcoins that can be used on a daily basis is even more limited.

While some foresee a Bitcoin failure, others just the opposite. Among them Rickard falkvinge, leader and founder of the Pirate Party, who maintains that between 2020 and 2025 its price could be between 100.000 and 1.000.000 euros or more optimistic scenarios that place it at a value of 47 million euros for each bitcoin in the following decades.

They also foresee a stability in their price after the growth stage.

Detractors of Bitcoin defend that it is something that could disappear at any moment. But how do you magically make something that millions of people have disappear and every month it reaches new users exponentially? An open, transparent system, with some of the best minds on the planet working on it, many for pleasure, how to stop that?

Bitcoin, when analyzed over time you see that it seems to be much stronger, fair and powerful for the user even than the fiat money of a country.

Let's remember that a bitcoin is divisible, and has 100 million satoshis (its smallest unit), and a future may come where 1 satoshi is equated with 1 euro cent and worth the million euros that we mentioned above, but be careful! Bitcoin works by consensus, and that number of decimal places could be increased if it becomes necessary and the majority of the nodes agree.

keep calm and relax

Either way, the price of BTC will be worth what people are willing to pay for it. This, as we have mentioned, bitcoin is determined by the trust of its users. But also by supply and demand in the exchange markets.

Currently hundreds of stores accept Bitcoin as a means of payment. You can see some of the most important ones here.

Where to use Bitcoin

Do you think that a system capable of managing world economic accounting in the most optimal, transparent, decentralized and cheap way than the traditional one, and that earns millions of users each year, will disappear? And if it does not disappear, how far do you think the price of a single BTC will go?

If you have not yet bought your first bitcoins learn how to buy bitcoin here.

And, as always, don't forget to share this chapter on social media. A new, fairer, cheaper and more equitable financial system has been born. Together we will make more people know about it.