Should we mine in 2020? A review of the explosive growth of Bitcoin prices over the past 10 years, based on history

I recently watched a super exciting video that recorded the major events and trends of Bitcoin in the past decade. From the video, we can see that starting from 2010, the K-shaped line began to move forward bravely, going up all the way, then suddenly dropped, and then went upstream again, fluctuating up and down, which was very exciting.

Since its official birth on January 3, 2009, Bitcoin has reached its highest price ever at $19,850 on December 7, 2017, which is more than 7.8 million times in ten years. Yes, more than 7.8 million times! In 2020, Bitcoin will usher in a new wave of halving nodes, and every miner investor will be strangled by the throat of fate. Before this exciting and inexplicably exciting moment comes, let's take a look at the major events and trends of Bitcoin in the past ten years to calm our minds.

May 2010: 10,000 BTC for pizza

In July 2010, Bitcoin experienced its first sharp price fluctuation, increasing 10 times in 5 days.

In October 2010, the first public mining machine Open CL was created

In November 2010, the market value of Bitcoin exceeded 1 million US dollars

In December 2010, Satoshi Nakamoto called on WikiLeaks not to use Bitcoin. In the same month, Satoshi Nakamoto withdrew from Bitcoin.

In February 2011, the price of Bitcoin reached $1 for the first time

In March 2011, major Bitcoin exchanges began to open transactions with legal currencies.

In June 2011, hackers stole the administrator privileges of Mt.Gox, resulting in the theft of Bitcoin. In the same month, Mt.Gox CEO Mark Kaepeles sent a transaction for 442,000 BTC.

In July 2011, the Bitcoin exchange MyBticoin was attacked, and 78,000 Bitcoins were missing.

In November 2011, Bitcoin POS was successfully developed

In February 2012, Bitcoin traders gradually liquidated and exited

In March 2012, hackers broke into Linode servers and stole Bitcoins

The Bitcoin Foundation was established in September 2012

In November 2012, Bitcoin experienced its first “halving”

In March 2013, the domain name registration website Namecheap began to accept Bitcoin payments. In the same month, the market value of Bitcoin exceeded $1 billion and Bitcoin exceeded $100.

In August 2013, Bitcoin exchange TradeHill announced its closure

Silk Road founder convicted in September 2013

In November 2013, the U.S. Senate held a hearing to discuss Bitcoin. In the same month, the price of Bitcoin exceeded that of gold for the first time.

In December 2013, five Chinese ministries issued an announcement that two major Chinese Bitcoin platforms would suspend RMB deposits.

In February 2014, the world's largest Bitcoin trading platform Mt.Gox suddenly closed down

In March 2014, the United States recognized Bitcoin as property, not currency.

July 2014 Dell, PayPal and others announced to accept Bitcoin, Google added Bitcoin price query

BTC-e serial liquidation in August 2014

In September 2014, the US authorities approved the first Bitcoin financial product

In November 2014, the U.S. Marshals Service publicly auctioned 50,000 Bitcoins.

In December 2014, the Washington Post published an article saying that Bitcoin's financial network is doomed to fail. In the same month, Buffett said that Bitcoin is a mirage.

In January 2015, Coinbase became the first licensed U.S. Bitcoin exchange.

Bitcoin Investment Trust Fund approved in March 2015

In May 2015, the founder of Silk Road was sentenced to life imprisonment

In June 2015, New York State issued the BitLicense regulatory framework

In September 2015, Circle obtained the first digital currency license, BitLicense

In October 2015, the Bitcoin exchange Gemini was approved by the New York regulatory department and will be officially launched soon.

In November 2015, Satoshi Nakamoto was nominated for the Nobel Prize in Economics

In January 2016, the People’s Bank of China held a digital currency seminar in Beijing.

In February 2016, the Hong Kong Bitcoin Roundtable reached a consensus on capacity expansion

In March 2016, the Japanese parliament approved a new bill to regulate Bitcoin. In the same month, Microsoft apologized: We still accept Bitcoin.

In May 2016, Japan recognized Bitcoin as property.

In June 2016, the General Provisions of Civil Law defined the scope of protection of virtual assets

In July 2016, Bitfinex was hacked again and trading was suspended

Bitcoin Core software version 0.13.0 was officially released in August 2016

In August 2016, the total amount of Bitcoin transactions exceeded $100 billion for the first time

In November 2016, the IRS requested to investigate Coinbase customer information and filed a petition with the court.

In December 2016, Bitcoin broke through $1,000, and Microsoft announced support for Bitcoin payments

In January 2017, the three major exchanges ended the "zero transaction fee" era

In January 2017, the People’s Bank of China officially established the Digital Currency Research Institute

In February 2017, the central bank interviewed bitcoin trading platforms in Beijing

In March 2017, the US Securities and Exchange Commission rejected the Bitcoin ETF application for the first time.

Bitcoin was officially legalized in Japan in March 2017

In June 2017, the market value of cryptocurrency exceeded $100 billion

In July 2017, Bitcoin options trading was first approved by the CFTC. In the same month, Bitcoin hard forked and BCH was born.

In September 2017, Chinese regulators banned ICOs and ordered the closure of domestic digital currency exchanges. In the same month, the Japanese Financial Services Agency approved the first compliant Bitcoin exchange.

October 2017: Governor of the Bank of Korea: Bitcoin is a commodity, not a currency

In November 2017, the organizers of segwit2x announced the suspension of the planned hard fork. In the same month, Bitcoin exceeded $10,000.

In December 2017, Bitcoin broke through $19,000. In the same month, South Korea announced the real-name system for exchanges and the Lightning Network to log in to the Bitcoin mainnet.

February 2018: Caixin.com: China takes measures against overseas virtual currency exchanges. In the same month, Circle acquires crypto asset exchange Poloniex

Zhou Xiaochuan answers reporters’ questions on central digital currency, Bitcoin and ICO in March 2018

April 2018 SEC Chairman: Bitcoin is not regulated by the SEC

In May 2018, foreign media reported that Facebook was considering issuing cryptocurrency. In the same month, the U.S. Department of Justice launched a criminal investigation into currency price manipulation.

In June 2018, South Korean exchanges CoinRail and Bithumb were stolen one after another

In August 2018, the parent company of the New York Stock Exchange announced that it would launch a digital asset platform and Bitcoin futures.

November 2018: 10th anniversary of the release of Bitcoin white paper

In December 2018, the Beijing Internet Finance Industry Association announced that STO was suspected of illegal financial activities. In the same month, Facebook planned to launch a stable currency.

January 2019 marks the 10th anniversary of the creation of the Bitcoin blockchain. In the same month, Alipay and WeChat Pay sent letters to remove OTC payment channels.

In February 2019, JPMorgan Chase will launch the cryptocurrency "JPM Coin". In the same month, Samsung Galaxy S10 will support BTC and ETH by default.

March 2019 Beijing Internet Finance Association: Guard against illegal public financing activities such as "STO" and "IEO"

In April 2019, Bitfinex and Tether were accused of using USDT reserves to cover up a loss of $850 million

7,000 BTC stolen from Binance wallet in May 2019

In June 2019, Facebook released the Libra white paper. In the same month, LedgerX was approved to launch a physically delivered Bitcoin futures contract.

Bitcoin is born with a fixed total amount, which is easy to store. Since its birth in 2009, it has continued to heat up in the financial circle under the fermentation of various events. In 2010, a programmer used 10,000 bitcoins to buy two pizzas, which is the earliest transaction record of Bitcoin. Now think about it, that person must be regretting it now. In 2017, the value of Bitcoin hit a peak of nearly 20,000 US dollars. It was the year of the explosion of the currency circle, with an annual increase of 1,700%. However, in 2018, Bitcoin fell sharply. In this long bear market, altcoins have frequently run away, and companies of all sizes have closed down one after another. Therefore, many people are wondering whether they should invest in the Bitcoin market?

Looking at the development of Bitcoin over the past decade, the recovery in 2019 can be said to be a good hint. Since April, the price of the currency has continued to rise, with an increase of more than 200%. The Antminer sold out as soon as it was launched is a good proof. 2020 is about to usher in a new round of Bitcoin halving. Let us wait and see what happens in the coming year.