A Brief History of Bitcoin: 10 Years of Highs and Lows

Cointelegraph takes a look at some of the most memorable and infamous moments over the 10 years since Bitcoin was brought to life.

The average time between the creation of new blocks is 10 minutes, but it took a full six days before the next block was added to the Bitcoin blockchain, according to the timestamps of those specific blocks.

Four days later, on June 12, 2011, Bitcoin plummeted in value to $10.25, in the first major correction experienced by the Bitcoin community.

After a relatively quiet six months, the price of Bitcoin dropped again, following news that e-wallet company Paxum had stopped accepting BTC. This period of time marks the first real instance where Bitcoin experienced high volatility and humbling corrections.

On Dec. 11, 2014, Microsoft began accepting Bitcoin payments, marking a big milestone for Bitcoin approval by global corporations.

Six years after Satoshi released the Bitcoin whitepaper, the cryptocurrency appeared on the front page of The Economist on Oct. 31, 2015.

Having breached the $1,000 mark three years previously, Bitcoin hit the mark once again on Jan. 2, 2017.

On June 11, Bitcoin crossed the $3,000 mark for the first time ever, amid an ongoing debate around the possible measures to address scaling issues affecting Bitcoin.

The likes of Roger Ver, advocated for an increase in the blocksize, which ended in a hard fork from the original Bitcoin blockchain - giving birth to Bitcoin Cash.

Sadly for the community, the price of Bitcoin slumped back down to the $13,000 mark by Dec. 31, 2017.2018 - Bitcoin volatility reaches record lows.