PakGazette – Fifteen years ago today, the cryptocurrency market was a different landscape. According to historian Pete Rizzo, on this date 15 years ago, you could buy 1 Bitcoin (BTC) for just $0.50. This extremely low price of 50 cents is in stark contrast to Bitcoin’s current value, currently in 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 Satoshi Nakamoto, Bitcoin at the time was a niche innovation discussed exclusively among crypto enthusiasts and some early adopters.
The first known Bitcoin transaction occurred in May 2010, when programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas. Bitcoin, the world’s largest cryptocurrency by market cap, has come a long way from its humble beginnings.
Fast forward to the present, and Bitcoin’s value 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 reaches new all-time high; what the indicators say
Bitcoin rose to a new record high in the early hours of the session on Monday, reaching all-time highs of $109,358. Bitcoin had risen from lows of $99,416, recording a major green daily candle.
At the time of writing, BTC was up 2.21% to $106,960, according to data from CoinMarketCap.
On-chain analytics firm Glassnode indicated that as Bitcoin approached a new all-time high above $109,000, long-term holder NUPL crossed the 0.75 threshold, associated with the euphoria/greed phase of the price cycle. market.
A recovery of short-term holder profitability momentum was observed, as expressed by BTC’s STH MVRV, currently at 1.16, above the one-year trend line of 1.1. A notable spike was also seen in the Bitcoin futures perpetual funding rate, reaching around 0.035%, the highest level since December 5.
