Why did Bitcoin continue to rise in 2017 (Bitcoin surged in 2017)
Editor’s note: This article is from Xiaozha Chatting (ID: xiaonazha88), reprinted by the Daily Planet Daily with authorization Bitcoin prices have been rising in 2017, why did Bitcoin continue to rise in 2017. On December 16, 2017, after the global stock market fell by over 40%, the market began to recover again. By the end of 2016, over 300 billion assets had been sold off, but this situation has also changed as more and more institutions have entered. At the end of 2017, Bitcoin skyrocketed to a historic high of $17400. Since then, it has entered a crazy period, but due to various reasons, there has been no decent rebound, and it was not until March this year that BTC ushered in a bull market. From the end of December to the beginning of April 2017, Bitcoin experienced a round of severe fluctuations and sharp declines, then quickly fell back and returned to the level of early 2018. Since mid to late 2017, Bitcoin has continued to fluctuate and rise. Since mid January 2017, Bitcoin has rapidly risen from $10800 to around $20000 within 5 minutes, and has once again reached the integer level of $20000 a few days later. This time, the market has also experienced a three fold trend, even approaching resistance levels in the $30000 to $40000 range; Subsequently, Bitcoin broke through all the way up and continuously set new highs, followed by a further downward trend in coin prices. However, during this week, Bitcoin did not follow in the footsteps of any events. Although Bitcoin has seen a significant decline recently, it has never seen such a strong performance since 2019. The news of breaking the $35000 barrier again in late November 2017 has shown investors in the entire cryptocurrency market a huge opportunity for returns. Since 2018, many mainstream and counterfeit currencies have been on the rise. In the second half of 2017, the prices of Ethereum and other projects continued to rise, while Bitcoin performed well. Why can Bitcoin maintain such high growth rates? Today, let’s talk about why Bitcoin can still maintain such an increase
1. Since its launch in 2009, Ethereum has always been the digital currency with the highest market value. It is not only one of the most famous applications in the market, but also has legal and compliance support in many countries As a decentralized and stable token, Ripple coin has value just like gold, but also has its own advantages. Its anonymity and security allow people to freely trade without the need for central entities or third-party intervention. The core technology behind it – a distributed accounting system – can ensure the security and effectiveness of data
In 2017, Bitcoin surged by nearly 80%, soaring from $13 to over $16.
. In the past 17 years, this technology has quietly changed our lives According to statistics, Bitcoin increased by over 30% at the end of 2017. At that time, the global economy slowed down, governments around the world began to raise interest rates, and stimulus measures led to a sharp drop in gold prices; Subsequently, Bitcoin surged again, reaching a historic high (ATH) When Bitcoin reached $20000 in early 2017, people lost confidence in it, but it was quickly cashed out and did not return to normal until February 12 of this year. From the end of 2017 to the beginning of 2018, the price of Bitcoin also experienced a round of adjustment: from $10000 to a high of nearly $4000. And in November last year, it was the same: diving directly from over $5000 to over $3500 However, as the market continues to heat up and investors continue to increase investment capital inflows, this trend has not been reversed Since 2009, the price of Bitcoin has doubled by up to 15 times. The market in 2019 seems more like 2013- Bitcoin has only been around for 7 days since its inception, while other assets have remained relatively quiet. Therefore, the market’s expectations for this currency are increasing.
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