The Wild Ride of Bitcoin

[iamTom123]

Over the last 3 months, the price of Bitcoin has more than doubled - from $2,300 to $5,300. Accordingly, the market cap has grown from circa $40 billion to around $93 billion. Bitcoin is up more than 400% this year.

Another important metric to take a look at is the 24h trading volume. Back in July it was around $1 billion, and since then it has quadrupled, and now it is at $4 billion. Hence, with the growing Bitcoin popularity, speculation grows as well (you can obviously see that on the graph below, which represents year-to-date data).

Digital currencies now are stronger than ever. Yet, what it is clear now is that digital currencies are as strong as ever. And their popularity as well as global demand will only likely to grow in the nearest future.

Material is taken from here.

Bitcoin will never be Bitcoin without this amazing and superb growth. In fact, it would just be another cryptocurrency or maybe just another investment tool if not for the wild ride that it got into. Maybe the media would not be talking about, celebrities would not be investing on it and even many governments would not decide to ban Bitcoin-related activities had it been just another passing story.

One thing for sure is that Bitcoin is here to stay. The road to massive adoption is not an easy one as there would always be big and small challenges. The year 2017 can be recorded as the most intense year for Bitcoin and there are so many lessons we can all learn. Next year we are hoping for an easier ride and hopefully there would be new markets that can open for cryptocurrency as a whole.

Long live, Bitcoin!

[iram1011]

Over the last 3 months, the price of Bitcoin has more than doubled - from $2,300 to $5,300. Accordingly, the market cap has grown from circa $40 billion to around $93 billion. Bitcoin is up more than 400% this year.

Another important metric to take a look at is the 24h trading volume. Back in July it was around $1 billion, and since then it has quadrupled, and now it is at $4 billion. Hence, with the growing Bitcoin popularity, speculation grows as well (you can obviously see that on the graph below, which represents year-to-date data).

Digital currencies now are stronger than ever. Yet, what it is clear now is that digital currencies are as strong as ever. And their popularity as well as global demand will only likely to grow in the nearest future.

Material is taken from here.

Bitcoin will never be Bitcoin without this amazing and superb growth. In fact, it would just be another cryptocurrency or maybe just another investment tool if not for the wild ride that it got into. Maybe the media would not be talking about, celebrities would not be investing on it and even many governments would not decide to ban Bitcoin-related activities had it been just another passing story.

One thing for sure is that Bitcoin is here to stay. The road to massive adoption is not an easy one as there would always be big and small challenges. The year 2017 can be recorded as the most intense year for Bitcoin and there are so many lessons we can all learn. Next year we are hoping for an easier ride and hopefully there would be new markets that can open for cryptocurrency as a whole.

Long live, Bitcoin!

These coming 3-4 years starting from 2017 would be transformation of Bitcoin from being infamous to getting mainstream. I expect this high growth with higher the fluctuation to continue for more years. Investors have only started to coming in. I doubt that we have even touched the number of 100 million investors or even a 1% of global population. The potential market is of Billions and thus the demand is expected to increase exponentially in coming years. There are many good signs that we have seen this year that guarantees the future demand like banks which were vary earlier of cryptos are considering them now to setup a financial system for cryptos, countries are increasingly adopting cryptos which will lead as an example for many more, investors are getting interested in Bitcoins etc. Trend has only started.

[AtheistAKASaneBrain]

It's great to see how bitcoin recovers from previous crashes. This is key to regain confidence. Progress is made by overcoming struggles, and these dips an crashes are just bruises along the way to become a great warrior.

When someone new looks at the graph he will see these crashes and dips and realize how they just were opportunities to buy with perspective. This is what will keep the price going up. The more times this happens, the more solidified this behavior comes. Buying the dip will basically be second nature to the market. It's a self fulfilling prophecy.

[richardsNY]

Crypto in its entirety thrives on volatility in the eyes of the general public, not only Bitcoin -- that's one of the main reasons people love to dive into crypto. If you look at the growth that traditional assets and investment options yield, and compare that to Bitcoin or basically any other crypto currency, it by a huge-massive-mega-magnitude surpasses everything. People start to notice this and for that reason decide to allocate a certain percentage of their savings to this market in order to try their luck.

[warrior333]

These graphics look nice only in pictures. Who can say why so suddenly bitcoin has gone up? All say that the demand pushes the prices are on the rise. Who knows? Maybe it's whales playing the stock market to assemble the people free dollars. When stocks people over they would dump their coins and bitcoin will cost the same amount as it cost in 2010. The future is not yet determined.

[Karpeles]

The ride is wild indeed. Now the price is falling again to sub $5500 while the backlog is increasing quickly, now at 80k unconfirmed transactions. I wonder why when bitcoin goes bananas, the backlog explodes too

[barota]

this rise of bitcoin not good ... 1000 usd in 1day

bitcoincan crash

[bitcoindusts]

Well this is the trademark of Bitcoin >>  Wild fluctuation and crazy spike.  This show how premature the market of Bitcoin is.  And traders love this!.  Many knowledgeable traders have profited in this wild ride while those who pretend to be one fall off  the ride.  I think we can still see this kind of wild fluctuation for another 5 years  .

[jjacob]

It truly has been a wild ride for Bitcoin so far. 2017 has been a year which has actually shown us the potential of Bitcoin. The daily barbs by Jamie Dimon and others make me more comfortable about my Bitcoin investment.

[justdimin]

I totally agree with the massive adoption which has been as a result of the huge massive growth in value of bitcoin.

Most people who are even getting in now have no clue the idea behind bitcoin and how the blockchain technology has come to disrupt a lot which is why we also see panic sellers on every slight dip. This is just a start for bitcoin and it is apparent in few years, the growth will be massive.

[LFC_Bitcoin]

It truly has been a wild ride for Bitcoin so far. 2017 has been a year which has actually shown us the potential of Bitcoin. The daily barbs by Jamie Dimon and others make me more comfortable about my Bitcoin investment.

People like Dimon haven’t got a clue about bitcoin or what the future holds, it’s like a mechanic having an opinion on how to be an accountant, totally different fields.

The man is an idiot, the long term trend of bitcoin price is up, up & up. This will continue.

[btc_angela]

It truly has been a wild ride for Bitcoin so far. 2017 has been a year which has actually shown us the potential of Bitcoin. The daily barbs by Jamie Dimon and others make me more comfortable about my Bitcoin investment.

People like Dimon haven’t got a clue about bitcoin or what the future holds, it’s like a mechanic having an opinion on how to be an accountant, totally different fields.

The man is an idiot, the long term trend of bitcoin price is up, up & up. This will continue.

Actually I believed Dimon knows the real capability of bitcoin that's why as bankers he keeps on attacking it because they are really feel threaten by it. Even he admits that he got a daughter who is into bitcoin.  He just can't keep ignoring the power that bitcoin can bring to the economics of a country.

Although he is still bashing bitcoin, no one is really taking him that serious anymore because he can't really stop the massive bullrun and the number of people looking what bitcoin is all bout. Whether he opens his mouth or not, bitcoin will go and continue to soar.

[YuginKadoya]

It truly has been a wild ride for Bitcoin so far. 2017 has been a year which has actually shown us the potential of Bitcoin. The daily barbs by Jamie Dimon and others make me more comfortable about my Bitcoin investment.

People like Dimon haven’t got a clue about bitcoin or what the future holds, it’s like a mechanic having an opinion on how to be an accountant, totally different fields.

The man is an idiot, the long term trend of bitcoin price is up, up & up. This will continue.

I Agree with you that bitcoin can not be stop by some corrupt Business executive and investor to be the only one to be successful and I think he would surely want to get rid of bitcoin so his success in the banks will continue, nothing can sure stop bitcoin not even an Altcoin that has an Networking scheme in it because bitcoin is a n upward trend and has a year of foundation on it's back.

[Kronos21]

I totally agree with the massive adoption which has been as a result of the huge massive growth in value of bitcoin.

Most people who are even getting in now have no clue the idea behind bitcoin and how the blockchain technology has come to disrupt a lot which is why we also see panic sellers on every slight dip. This is just a start for bitcoin and it is apparent in few years, the growth will be massive.

To be honest I'm not worried about the fate of those users who are trading on the stock exchange. It seems to me that they only bring harm to the bitcoin community. Constant speculation contribute to the high volatility of bitcoin and make it unsuitable for use in the economy. Without this, bitcoin can turn into the same dummy as the dollar.

[1Referee]

nothing can sure stop bitcoin not even an Altcoin that has an Networking scheme in it because bitcoin is a n upward trend and has a year of foundation on it's back.

Regardless of Bitcoin being in an upward trend, altcoins stand no chance by default. No altcoin in the world will ever come even close to what Bitcoin has achieved this far, combined with its network and eco system. Ethereum has often been labelled as Bitcoin killer, but yet it shows that even in this case, it's nothing more than a shitcoin gaining its value primaraly from the ICO hype. It goes even that far, where people around me rather invest their money into Bitcoin, even while knowing that Bitcoin's price has gone up significantly already, than choosing to go with whatever altcoin. Their words -> I want the real deal (which is Bitcoin of course).