Bitcoin Price Today in US Dollars – Price of BTC Live Chart

About Bitcoin

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What is Bitcoin?

Bitcoin is a decentralized cryptocurrency one can buy, sell, or exchange directly without the need for intermediaries like traditional banks. It has the unrivaled reputation of being the world’s first cryptocurrency and the most popular of the lot. 

So how much is bitcoin worth? Well, in April 2021, Bitcoin price reached an all-time high of $65,000, a massive figure from its $0 price in 2009. The price of bitcoin as of September 8th, 2021, is $46,105 after a series of fluctuations. Those numbers may not be up to date by the time you read this. Make sure to check today’s Bitcoin price at the chart at the top of this page.

The true identity of the founder(s) of Bitcoin has, for years, been a source of mystery in the cryptocurrency world. However, there are long-standing facts like the fact that the founder and creator of Bitcoin are Satoshi Nakamoto.

This person or group created the world’s most popular cryptocurrency and launched it publicly in 2009. However, as of September 2021, Satoshi Nakamoto, whether a person or group, remains unknown.

What Drives the Price Of Bitcoin?

While the price of Bitcoin might be a lot more valuable than it was in 2009, you don’t need to buy a whole Bitcoin. You can buy a fraction of the digital currency and keep it stored up in a digital Bitcoin wallet.

One thing that gives bitcoin value is that there will only ever be 21 million bitcoin units in stock. This figure can’t be manipulated or inflated. Several factors affect and drive the price of Bitcoin in the cryptocurrency market at any time. 

One of those factors is the supply of bitcoin and how the market demands that supply. The supply of Bitcoin increases when miners create new bitcoin at a fixed rate and are introduced to the market. 

The price has steadily increased over the years, despite market fluctuations and corrections. More so, the cost of mining itself drives the price of Bitcoin. The more miners that join in creating a bitcoin block, the more difficult and expensive the process becomes.

Competition from other cryptocurrencies like Ethereum and Cardano also drive the price of bitcoin high or low. Government regulations cause high volatility in the price of Bitcoin. Government restrictions on bitcoin can cause a fall in bitcoin price, while relaxation of such restrictions or policies will remove fears of investing and cause a surge in Bitcoin’s price.

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