2017 is, indeed, a year of bitcoin. In the passing year the cryptocurrency has not only increased taking along its “younger brothers” – Ethereum and Litecoin. It has also become a hot issue all over the world. Bitcoin has been making people learn more and more about cryptocurrencies even if they have never dealt with this digital economy trend before. An incredible increase and a sharp slump, a “bubble”-label, a widespread use among companies and a total ban in several countries – this is what bitcoin has made many people talk about during this impressive year.
Back to the Future
In January, 2009 the world saw bitcoin for the first time. The founder of this cryptocurrency – somebody called Satoshi Nakamoto – introduced the first version of bitcoin wallet. It’s been eight years already, however, the public still does not know who stands behind this assumed name. Back then when a thematic forum (today Bitcointalk is its analogue) was created the rate of that cryptocurrency started increasing. The initial small sum of $0,06 turned to $0,5. In the beginning of 2011 the rate reached $1, and it seemed that it was the highest possible peak. Less than in six months bitcoin cost already $10 and in another week – $31,91.
2013 was a crucial year in the history of the cryptocurrency. A “bubble” was now almost ten times bigger – $300 for a coin. However, yet in October its price “dived” to $109.71. In November, 2013 bitcoin reached its first $1000 mark. Just in one month the cryptocurrency showed what’s what. One year later – in the beginning of December the price was around $310.
2015 appeared to be a rather stable year for bitcoin. However, it is difficult to put the words “stability” and “bitcoin” together. The price went up and down reaching at least two times higher mark comparing to the initial cost and finally since December the rate was approximately $350.
Traders noticed first positive tendencies in 2016 – the price became stable reaching $1000. Back then they could hardly expect that bitcoin would incredibly increase by almost 20 times!
Everything for bitcoin
Who could imagine that bitcoin would become so popular and it would be possible to purchase real estate or pay for services with this cryptocurrency? There were also some people ready to sell all their property in order to by a brand new gold.
During the second half of 2017 the digital currency rate experienced an active increase. Having reached $2000, bitcoin then increased up to $4000 and thus became the hottest topic of discussions and really valuable asset for its holders. However, something really unbelievable happened this autumn. The “bubble” kept growing day by day reaching $ 8000. The public had opposite opinions: many people stated that bitcoin was something like a roller coaster so its rate would definitely go down; others expected another increase up to $10000. And they were right.
Today experts are ready to make many controversial predictions about bitcoin. Some expect it to cost $100 000, and there are even those who dream about 1 million.
Bitcoin disappointed the crypto community having decreased by almost 30% in December. It reached a record breaking $20 000, and then collapsed to $13 000. Still the cryptocurrency is rather unstable. It is not so easy to predict how bitcoin will close this year and how much it will cost in December, 2018. However, the fact is that this “bubble” has not burst yet.