Bitcoin has gained popularity over the last decade as an investment asset and a form of payment. When Bitcoin was introduced in 2009, it only cost a few cents, and few people noticed. Over the years, Bitcoin’s price slowly rose as more people became aware of its potential. Bitcoin price and value have steadily increased as its use and popularity expanded.

Bitcoin Price Surge: Luxury Holidays Affordable

By mid-2021, the price of Bitcoin peaked at $64,829, up from $10,837 in September 2020. According to ‘My Bitcoin Holiday,’ with 1 BTC at its all-time high in November 2021, you could afford 3 nights at the Four Seasons, 2 nights at Crosby Street Hotel, a table for 5 at Caviar Russe, a luxury car hire, and a NYC helicopter tour.

Before the pandemic, a 1 BTC holiday could cover a 5-night stay at a NYC hostel, budget car hire, and a meal for 5 at Rudy’s Bar & Grill. After the pandemic, the same 1 BTC could afford a luxurious stay at the Four Seasons, plus more. If you owned Bitcoin 5-10 years ago, the luxury holidays you could afford by the end of the pandemic are truly remarkable.

Bitcoin Price Drop: A Volatile Journey

However, the price of Bitcoin has since dropped significantly. By June 2022, Bitcoin’s price dropped to $20,109. It fell further to $16,441 in November 2022, its lowest value since November 2021.

However, you shouldn’t be too disappointed when you look at Bitcoin’s journey since its inception. If we were to take ourselves back to 2021 when Bitcoin sat at a value of just $4, you’d barely be able to afford a visit to one restaurant at any global destination.

While some market players predict another volatile year, many investors are giving up trying to predict the price of bitcoin. Bitcoin has seen multiple drastic swings over the last decade, and it’s likely that the story isn’t over just yet.