2017 is finally over. The value of Bitcoin has multiplied by 14, and this is the first year that Bitcoin and other cryptocurrencies made it into mainstream media. What’s next for Bitcoin in 2018?
Price Explosion: A Brief Overview
This year did not start out as a promising year for bitcoin. Right after returning to the $1000 mark on the first day of the year, China cracked down on multiple bitcoin exchanges; margin trading was banned, which caused the price to plummet back down to 70%. Unsurprisingly, nobody foresaw the growth that Bitcoin experienced over the following months. In the first half of the year, the price steadily rose to around $3000; but that was when the madness began.
Over the next few weeks, the price skyrocketed; Bitcoin became a hot topic and it was being featured at least once a week on mainstream media. This frenzy continued up until mid-December when prices topped $20,000 on several exchanges. Many people in the Bitcoin community thought that this price rise was unsustainable, and a correction was long overdue, and they were right. The price steadily dropped back down over the course of a couple of weeks and has stabilized at the $13000-15000 range.
2017 was also …
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