Visualizing The Journey To $10,000 Bitcoin
Content adapted from this Zerohedge.com article : Source
It has been a breakthrough year for the world's original cryptocurrency. At time of publication, the bitcoin price is at $9,650 – about 10X higher than how the cryptocurrency started the year. Further, as Visual Capitalist's Jeff Desjardins notes, bitcoins are now on the brink of passing the important psychological barrier of $10,000, and it could do so at any moment based on current momentum.
Today's infographic from Blockchain Intelligence Group helps to visualize the ups and downs of the cryptocurrency on its journey to $10,000.
Courtesy of: Visual Capitalist
Note: once the price hits the $10,000 barrier, we'll do a final update on this graphic to make sure that's represented.
THE JOURNEY TO $10,000 BITCOIN
Here are some of the key events that transpired over the last 11 months:
And here is how long it took bitcoins to hit each $1,000 barrier:
Note: These time periods are calculated based on closing prices for the Bitcoin Price Index on Coindesk.
THE YEAR OF THE ICO
While the journey to $10,000 bitcoin is an incredible one, it is part of a wider story as well.
Initial Coin Offerings (ICOs) for other cryptocurrencies have also boomed, and more than 92% of all funds raised through ICOs happened in this year alone. With this mechanism hitting the mainstream, about $3.8 billion have been raised through ICOs in total.
Further, they've been profitable as well for speculators. A report from Mangrove Capital last month noted that the average return across 204 ICOs it was tracking was 1,320%.
Despite being temporarily banned in China and South Korea, ICOs have not been slowing down. So far in this month (up to Nov 26, 2017), ICOs have already hit new highs with $743.2 million raised, surpassing the earlier record-holding month of September 2017 ($662.9 million).
Not much original content, calm down the vote bots!
Hi @transisto! You have received 0.1 SBD tip from @cardboard!
@tipU - send tips by writing tip! in the comment, get share of the service profit :)
tip!
@transisto yet it is informative and it is the reality
What are vote bots?
https://steemit.com/family/@hashamqureshi/outlander-the-top-6-most-memorable-moments
I have got to support you on this.
I truly don't know wtf is going on here anymore. The trending of the Bitcoin tag is all referral link pushers, plagiarism, and stuff like this:
https://steemit.com/bitcoin/@bharathcrypto/a-letter-to-bitcoin-20171130t134919558z
This is a critical time in the markets with many worthwhile things to discuss, and technical/fundamental analyses to be made. Instead, we have reposts from a site that reposts things from another site by an account not owned by any of the said previous reposters.
Repost-ception?
$1 per Steem, you say?
Just awesome :)
would you upvote me pls ill do it too
@rymlen it really awesome
Nice graphics. Thanks.
I knew this 10K is comin'. Knew long ago. Many years ago.
All our present comments will be very funny to read at Christmas- 2018 time. Mark my words. :)
Every new technology takes time to mature, and adoption is always running by the same "S" type curve. Always.
And many exciting things and times are waiting for us along that curve
This is very exciting to see what is happening in the world. Currencies and trading are changing with a fierce style and sonic boom at a speed of exponential growth like the computer industry from the mid 80’s to now.
So much money to be made in crypto, what a time to be alive.
Good prediction but the 10K mark was inevitable. Now we should wait and see when investors with large amounts will dump and cause a major fluctuation. Considering the increasing demand in India and other countries, it is highly unlikely that there will be massive fall atleast until it hits 20K. Let's wait and see! Cheers.
yeah.. I heard that it could actually hit 50K within this year! that would be insane. Im not investing myself since I am kinda new to this crypto thing, but I am really considering investing since it seems so exiting.
It is indeed exciting but I figured you'd need to be glued to the ticker if you're looking to make short-term gains out of the price rally. If you believe that blockchain is going to play a major role in the future, I guess any sort of well-thought investment in cryptocurrency will pay off in the future. It's a good guess but as with all guesses, there's still a possibility that if stringent regulations are brought in by governments, it may dampen this free run quite a bit.
thats true.. I believe that crypto is the future, but its hard to tell which crypto currency is gonna be reliable long term. It seems like bitcoin could crash tomorrow and then another crypto currency could rise insane amounts instead
Unless the UN or the world bank stepped in and raised alarm about the misuse of Bitcoin and got multiple countries to regulate or ban bitcoin, such a crash is unlikely at the moment. Of course that being said the volatile nature of bitcoin prices will remain until it attains a mass adoption of at least a billion users. It is likely to become more stable once and if it reaches that stage. But we can expect many countries to establish regulatory boards to curb the usage and trading of crytocurrencies even if they don't take a hard stance on banning it in its entirety. They will need to provide a very strong argument to the public and create an atmosphere of fear to stop people from thinking about using it.
Well maybe I was a bit wrong about the UN but France has already called for a regulation of crypto by the G20. This is just the beginning. Repealing net neutrality was quick thinking on the part of US when suddenly there was a slightly more powerful currency that was gaining golbal adoption- taking lessons from China I suppose. It's interesting since India shot down the idea of repealing net neutrality just a year ago. Crypto regulation in Asia will be interesting to note as there are currently mixed feelings about it.
Awesome article and very easy to digest. We all know how tricky that first alt coin buy is. You get your BTC on Coinbase, transfer the BTC to Bittrex or whatever, then buy your Alt. It's complicated for the newbie.
We need more info and charts like this that cut through that complexity and get the regular people excited about what's happening
More people come, more simpler all the process will be
We just need time and trust
LMFAO
@csp01 it an interesting article @zer0hedge keep it up
" At time of publication, the bitcoin price is at $9,650 – about 10X higher than how the cryptocurrency started the year. Further, as Visual Capitalist's Jeff Desjardins notes, bitcoins are now on the brink of passing the important psychological barrier of $10,000, and it could do so at any moment based on current momentum."
Finally it appears apparent to all that bitcoin is still an asset
Yeah man, I´m one of those newbs but so far I really enjoy the travel in this cryptoworld and beyond.
what a Journey guys! Cryptos are the future!
yes you are right ! time will come when steem dollars grows like bitcoin
hopefully :)
this is making history!
wow...its is already crossed $11000 mark in india...its current value in india $11028.52..and its increasing since morning...thanks for post keep posting
Nice post! What will happening, if someone resteem your post?
good question.. im new to steemit and its quite confusing i think XD
thats a good question im wondering ta actually but rigth now ... would you please upvote me ? i think im about to lose my account because i didnt know... well upvote me and ill do the same please!
at which exchange people are trading in INDIA.
Current price in India is $11643. (750000 INR)
Zebpay, pocketBits.com are few platforms where you can buy and sell Bitcoins in India.
However to purchase other coins we still have to buy Bitcoins first.
you can use koinex in India to buy other coins like etherum, ripple, bitcoin cash etc along with bitcoin and it is profitable than Zebpay.
zepay and unocoin are the best
True history, Thank God I'm looking forward to its growth because I invested in time.
Wow, I never knew @zer0hedge had a STEEM until now... Sweet! You should publish an article about how STEEM will be the future of content creation...
Never mind... I just saw that it’s unaffilliated...
Basically plagiarism