Bitcoin’s End of Year Price Spike Boost for Mass Markets in 2017
The jump in the price of Bitcoin over the $900 mark in the last few days of 2016 has been considered a twist that would further push the digital currency, whose market cap is near the $15 bln mark, into the mass markets. DECENT CEO Matej Michalko notes regarding the spike: “This is a major advance in the understanding of Blockchain technologies by the early majority. Bitcoin is on its way to mass markets.” Breaking the record. Bitcoin’s current price of $903 is only a 25 percent increase shy of its all-time high record of $1,127, according to figures from CoinMarketCap. Recent developments....
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You can’t keep a good decentralized, peer-to-peer, global digital currency down. After a turbulent first month of 2017, Bitcoin closes January strong and gets back to a net gain for the month. Bitcoin Price Pares 2017 Losses. Bitcoin price always seems to struggle at the start of any calendar year, and January of 2017 was no different. Bitcoin had threatened the all-time price record during the first week of 2017, reaching a high of $1,153 USD on the 5th. However, over the next 48 hours, the price bubble bursts, and Bitcoin lost over 25% of its value. Just one week after its 2017 peak,....
Can the surge continue? A review of bitcoin’s 2016 performance indicates the cryptocurrency’s fundamentals are such that the party is far from over. With incoming U.S. President Donald Trump promising a fiscal spending binge that could push the $20 trillion U.S. debt even higher, the fundamentals that have served to more than double bitcoin’s price this year could deliver even greater gains in 2017. A combination of events, beginning with bitcoin’s popularity as a hedge against increasingly volatile markets, set the stage for a repeat performance in 2017, if not better. The cryptocurrency....
It’s been quite a rollercoaster in the cryptocurrency markets the past few days. Bitcoin had a significant bull run during the first two days of the year followed by a major downturn after nearly reaching its all-time high. During this turbulent price volatility all cryptocurrency market capitalizations have been affected. The Ups and Downs of 2017’s....
Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price? For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017.As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest, BTC dominance had been falling pretty steadily from around 70% in January to a low of under 40% by the time the crash....
The price of bitcoin inched upward over the course of trading today, passing $1,000 for the first time on CoinDesk Bitcoin Price Index since early January 2014. Though the price (at press time) was still shy of a three-year high of $1,023 set in January of that year, the milestone nonetheless marks a bright beginning to 2017 for the digital currency. (Bitcoin appreciated by more than 100% in 2016). The price had reached as high as $999 earlier in the day only to fall back to the $960s, a pattern that was similarly observed over the last week of trading as bitcoin failed to build momentum....