Bitcoin 2017: The Year In Review. Is $100,000 possible for 2018?
The first 5 months of 2017 saw Bitcoin slowly make its way up from $800 per coin to around $1500 per coin. It almost doubled in value.. thats very exciting! But the fun was just getting started. In June, Bitcoin doubled again reaching $3000! In mid July we saw a correction with the price falling to around $1800, but it would never be that low again.
By July 20th, it was at an all time high of $2800, less than a month later on August 16th it was $4300. It dropped down to $4000 for a few days but then jumped up to $4800 on September 1st. This new all time high scared a few players and we saw another correction with the price dropping down to $3200 which was still 3x higher than the beginning of the year.
It didnt take long for it to rebound from its drop, if anything you should remember that. A huge correction for Bitcoin is historically followed by big gains. A little over a month after dropping down to $3200 it had doubled in value hitting $6000 in October.
By this point, word is starting to get out to the masses. News organizations are reporting on the Gigantic gains being made by Bitcoin and this exposure brought more investors into it and things would never be the same.
By early November it had grown to $7500, but panic set in among some investors. Had it grown too much, too fast? Is it a bubble? Can it keep going up or will it collapse? It didnt crash but did have a huge correction falling to around $5800 on November 12th. If you were relatively new to Bitcoin and got in that point, your money would have quadrupled because it shot off like a rocket at this point.
Remember $5800 on the 12th?, just 4 days later it was $7800 and 2 weeks after that it hit $10,000. A special milestone and yet another All Time High. This figure was very significant. Will it hover around $10,000 or will it keep increasing? Perhaps it will collapse back down to $5,000??
By December 1st it was $11,000, then it reached $11,700 on December 5th. But here comes the most extraordinary gain in its history. It went from $11,700 to almost $17,000 in just 2 days. December 7th was insane. This just made even more people want to invest in it. The FOMO was smothering everybody but we had another drop coming our way. It lost $2500 on December 9th and alot of people started to panic but Bitcoin had other plans. One week later it exploded and reached as high as $20,000. Another new All Time high and another significant milestone.
But it was not to last, we saw it plunge down almost $6,000 and is currently hovering around $13,500 - $14,500 these past few days. Many say the reason is that people have taken money out to use for the Holidays.
So what does the year of Bitcoin in review teach us? Well, you have to expect these huge drops. Many people call them a crash while they are happening but its merely a correction and immediately following that correction we always see a new All Time High. Will that happen again? Will 2018 see bitcoin go to $25,000 in April, then $38,000 in June, $47,500 in August, $65,000 in October and make a huge leap to $100,000 in December? Many have said that number is possible and its not as outlandish as it sounds.
Remember how it grew over 1200% in 2017. If it grows just 600% next year, that will put it over $100,000. There are more and more people learning about and using Bitcoin, the userbase is constantly growing and certainly the price should grow along with it. As always do not invest more than you can afford to lose!
Or... perhaps 2018 is the year that Bitcoin is replaced at the top of the list by another Crypto Currency!! Huge transaction fee's, crazy mining costs, slow confirmations and other issues have soured many people on Bitcoin and if you ask 10 different people who the king of coins will be in the next few years you will end up with 10 different answers. 2018 should be very interesting indeed! Please Like The Chart if you enjoyed this article!
By July 20th, it was at an all time high of $2800, less than a month later on August 16th it was $4300. It dropped down to $4000 for a few days but then jumped up to $4800 on September 1st. This new all time high scared a few players and we saw another correction with the price dropping down to $3200 which was still 3x higher than the beginning of the year.
It didnt take long for it to rebound from its drop, if anything you should remember that. A huge correction for Bitcoin is historically followed by big gains. A little over a month after dropping down to $3200 it had doubled in value hitting $6000 in October.
By this point, word is starting to get out to the masses. News organizations are reporting on the Gigantic gains being made by Bitcoin and this exposure brought more investors into it and things would never be the same.
By early November it had grown to $7500, but panic set in among some investors. Had it grown too much, too fast? Is it a bubble? Can it keep going up or will it collapse? It didnt crash but did have a huge correction falling to around $5800 on November 12th. If you were relatively new to Bitcoin and got in that point, your money would have quadrupled because it shot off like a rocket at this point.
Remember $5800 on the 12th?, just 4 days later it was $7800 and 2 weeks after that it hit $10,000. A special milestone and yet another All Time High. This figure was very significant. Will it hover around $10,000 or will it keep increasing? Perhaps it will collapse back down to $5,000??
By December 1st it was $11,000, then it reached $11,700 on December 5th. But here comes the most extraordinary gain in its history. It went from $11,700 to almost $17,000 in just 2 days. December 7th was insane. This just made even more people want to invest in it. The FOMO was smothering everybody but we had another drop coming our way. It lost $2500 on December 9th and alot of people started to panic but Bitcoin had other plans. One week later it exploded and reached as high as $20,000. Another new All Time high and another significant milestone.
But it was not to last, we saw it plunge down almost $6,000 and is currently hovering around $13,500 - $14,500 these past few days. Many say the reason is that people have taken money out to use for the Holidays.
So what does the year of Bitcoin in review teach us? Well, you have to expect these huge drops. Many people call them a crash while they are happening but its merely a correction and immediately following that correction we always see a new All Time High. Will that happen again? Will 2018 see bitcoin go to $25,000 in April, then $38,000 in June, $47,500 in August, $65,000 in October and make a huge leap to $100,000 in December? Many have said that number is possible and its not as outlandish as it sounds.
Remember how it grew over 1200% in 2017. If it grows just 600% next year, that will put it over $100,000. There are more and more people learning about and using Bitcoin, the userbase is constantly growing and certainly the price should grow along with it. As always do not invest more than you can afford to lose!
Or... perhaps 2018 is the year that Bitcoin is replaced at the top of the list by another Crypto Currency!! Huge transaction fee's, crazy mining costs, slow confirmations and other issues have soured many people on Bitcoin and if you ask 10 different people who the king of coins will be in the next few years you will end up with 10 different answers. 2018 should be very interesting indeed! Please Like The Chart if you enjoyed this article!
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