Bitcoin price index from January 2015 to May 2017 (in U.S.dollars) Loading statistic... Bitcoin price index in U.S.dollarsJan 15216.91Feb 15253.53Mar 15243.39Apr 15236.57May 15230Jun 15262.48Jul 15283.94Aug 15230.02Sep 15236.25Oct 15312.43Nov 15376.91Dec 15430.05Jan 16367.13Feb 16436.61Mar 16415.16Apr 16449.33May 16531.8Jun 16672.48Jul 16625.88Aug 16572.33Sep 16608.44Oct 16697.37Nov 16742.01Dec 16968.23Jan 17967.67Feb 171,190.89Mar 171,079.75Apr 171,349.19May 172,328.91 Show further information Complete Source Details About This Statistic The graph presents the evolution of bitcoin price index from January 2015 to May 2017.The bitcoin price index is an average of bitcoin prices across leading global exchanges.The bitcoin index value for end of April 2017 was 2,328.91 U.S.Bitcoin – additional information Since the Bitcoin creation in 2009, the price of this virtual currency remained quite stable until January 2013, reaching a maximum value of approximately 20 U.S.

Afterwards a monthly price growth was observed until October 2013 when the price reached 198 U.S.This nearly tenfold increase in Bitcoin value proved to be insignificant in comparison to the price rally in November 2013, when the threshold of 1,100 U.S.dollars per coin was broken.After a period of downtrend which followed, Bitcoin price reached 1349.19 U.S.dollars in April 2017.The number of Bitcoins in circulation has grown month on month and reached approximately 16 million in March 2017.The global value of Bitcoin amounted to approximately 10.1 trillion U.S.dollars as of January 2014 and was much higher than the value of other internet currencies such as Ripple, Litecoin or Peercoin.As of March 2017, there were 1,045 Bitcoin ATMs worldwide.In the same time period, the countries with highest number of Bitcoin ATMs were United States (628), Canada (146), United Kingdom (58), Spain (31) and Finland (21).There are still many concerns about using Bitcoin for online transactions and the security of this virtual currency is seen as one of the most important factors influencing the decision about the Bitcoin purchase.

Special Functions Download startedThe price of Bitcoin is measured in a currency like US Dollar (USD) or South African rand (ZAR) .first bitcoin atm canadaHere’s a quick Bitcoin to rand price calculator and graph.ethereum chain dataThis price is set on Bitcoin exchanges all over the world by consumers buying and selling it.d?ng ti?n ?o bitcoin la giSince each Bitcoin exchange operates independently, the market force of buyers and sellers will set the price independently on that exchange.bbc news bitcoin chinaImagine we live in a world with only one type of apple and that they for this demo, all of the same quality.bitcoin dash exchange

In this world, we have a farmer, Sally, who takes her ripe apples to a marketplace to exchange them for money.bitcoin pc kaufenNow, if there is only one farmer and there is a big demand for apples, she can keep charging a higher price and higher price.She’ll say “Hey, I’m selling apples” and a buyer comes over and he says “Hey, I’d like to buy an apple!”and they will start trading.If Sally charges less than what the buyer is willing to pay, she’ll make an instant sale.She can in theory keep increasing the price until the point at which the buyer says, “Hey, this is too expensive, I’m not interested in buying anymore”.The other thing you’re likely to witness is competition.Since we’re living in a place where lots of people like apples, there are now hundreds of apple farmers, all eager to make some money.These new farmers will come to market with their apples and set up shop next to Sally.

They will soon see that by pricing their apples a little cheaper, they can get more trades.Through healthy competition and the forces of supply and demand, the price of apples from all the different farmers should soon stabilise.This is how you get the price of apples (in rand).Getting the price of Bitcoin in South African rand, works exactly the same way.In the real world, we simply have many traders with Bitcoin, which they either mined or (more likely) purchased at a stage in the past.These traders go to a Bitcoin exchange and they say “Hey, I’d like to sell my Bitcoin” and buyers at the same exchange will say, “Hey, I’d like to buy some Bitcoin”.Since Bitcoin markets are open to thousands of buyers and sellers,  this means that there is healthy competition and a fair market-derived exchange rate.You may see that the price of Bitcoin on one exchange may be different than the price on another (and the enterprising reader may want to gain from this price difference).This is the equivalent of when you have two or more apple markets in the same city: maybe the price of apples will be slightly lower at the one and a little higher at the other.

Over time, people will only buy the cheaper apples and the prices should adjust again.If we have a market is in the south of the country and they actually only farmed apples in the north, there should theoretically be cheaper apples available in the north.And farmers like making money more than they like apples.Our enterprising farmers will make a plan to buy as many cheap apples in the north and sell them down in the south.This will go on until the apples sold by other farmers in the south become cheaper, in line with their prices or more and more farmers also go and buy those cheap northern apples.If enough farmers go from the south to the north to buy the cheap apples, the merchants in the north will soon start increasing their price, until some sort of equilibrium has been found.This process of buying on one market and selling on another is called arbitrage.I often get asked why Bitcoin is more “expensive” in South Africa (or in South African rand) than it is on US dollar exchanges.

Let’s say Bitcoin is trading at $100 USD on a foreign exchange and the South African bank says that you need R10 to get $1 USD, it means that, with all other things being equal, the price of one Bitcoin should be R1000 in South Africa (since R1000 ZAR = $100 USD = 1 BTC).But, why then does it trade at R1090 per Bitcoin?The answer is actually that it’s not more expensive, it’s simply the point where the market agrees on the price.Like our farmers who traveled north, Bitcoin traders from South Africa can try to get access to the “cheap” Bitcoin on other exchanges, and sell it for a quick profit.Before you get too excited, remember that the farmers who traveled north had other costs involved in bringing the cheap apples to the south.They had to hire trucks, pay for petrol, pay for tolls and storage to get the apples to the south.If a trader wanted to buy one Bitcoin on an international exchange (listed at $100) and sell it on a South African exchange, the following would happen.