Bitcoin Price Comparison. What Was for 2017 and What Could Be at the End of 2018?
To say bitcoin went on a wild ride in 2017 would be an understatement. The cryptocurrency, which entered the year with a dollar value of $1,000, skyrocketed to highs of almost $20,000 in by December 18th. What does this mean for 2018? This is our 2 cents when discussing the bitcoin price comparison and volatility.
A Bitcoin Price Comparison for 2017 & 2018
Understanding a bitcoin price comparison is like understanding the difference of buying fruit from a supermarket versus a local plaas-winkel. Before placing investment trades you should also do a bitcoin price comparison using tools you can find online such as the bitcoin to rand calculator on iCE3X.
Bitcoin started the year at a price of $998 and saw no real jumps in price until May. After Мay, the bitcoin price began to surge hitting a high of $2,397. The price began to steadily increase up until November where bitcoin reached a high of $7,438. On the 12th of November bitcoin took a dive to $ 5,716, then the price skyrocketed to a whopping peak of $19,499 on December 18th.
While the price of bitcoin was the main highlight of 2017, far more happened that year for the blockchain technology that is often overshadowed by the valuation of bitcoin during this market environment.
Highlights of 2017
- In September; bitcoin took a dive as China made the decision to ban ICOs (Initial Coin Offering). ICOs are a fundraising method with a twist on initial public offerings. They have helped companies raise over $4 billion by offering their own tokens. Following this, bitcoin took a dive to $3,226. But due to the hiccup when JPMorgan CEO Jamie Dimon claimed bitcoin is a fraud, bitcoin began picking up steam. By October 13th, bitcoin hit $5,000 before hitting close to $7,500 on November 8th.
- In December, the two largest futures exchanges CME group and Cboe Global Markets launched Bitcoin futures. This product opened doors for better investment access to cryptocurrency for corporations all over the world. As a result, it allowed investors to bet on the price of bitcoin without touching the cryptocurrency.
This drew a number of traditional players in financial services such as TD Ameritrade and E*Trade to the cryptocurrency industry. When this news surfaced, the price of bitcoin shot from $10,000 a coin to a high of $19,499 on December 18th. And then tumbling to $14,166 on December 31st.
In 2013 #bitcoin went -82%, followed by +1700%
In 2014 bitcoin went down 87%
From 2015-2017 bitcoin went up 12,000%
In 2018 bitcoin went gone down 75% followed by…..
— CryptoZerp (@CryptoZerp) September 23, 2018
Many traders use bitcoin price comparison software to assist in their trading analysis. By seeing all the trends bitcoin’s value has gone through, you think of. You can better make an estimate on whether buying or selling at a certain time is a good idea or not.
While bitcoins valuation in 2017 was a rollercoaster of both uncertainty and excitement. 2018 paints a different picture for the future of cryptocurrency. The head of growth at SFOX, Danny Kim stated in an interview with Business Insider that the blockchain and cryptocurrency industry progressed on multiple dimensions. In light of this, the price of digital assets is far more stable across a multitude of trading platforms, seeing differences of only 0.1% or less. Consequently, more trading firms, asset management funds and even banking institutions have joined the cryptocurrency market.
Some HFT firms have been trading since crypto 2014, but have limited themselves because the infrastructure wasn’t there – Danny Kim
This year, cryptocurrency exchanges have been employing new strategies in order to control price inconsistencies (e.g. fixing colocation and connections of matching engines and trading computers). This has drawn major names such as Goldman Sachs and ICE to the cryptocurrency industry, pulling Starbucks into the mix also.
If you saw a bitcoin price comparison for the first 3 quarters of 2018 you would think it’s a really bad investment right? To understand where bitcoin is headed, you need to see where it came from. You can’t expect to know how a movie ends if you’ve only seen 5 minutes of it.
New Regulations in 2018
Even though the global interest in cryptocurrency peaked, this year has seen numerous attempts to regulate cryptocurrencies by national governments. Granted, the new legislation shook the market a bit, but note this regulation is synonymous with legitimization.
While it may seem as though the endless checks, bans and general turmoil unsettled the market, they are necessary evils. They confer to cryptocurrency’s dependability in the long term. A look at Japan provides proof of this. Japan’s most important bank Mitsubishi UFJ Financial Group recently launched the MUFG coin. This coin will be used for daily purchases, coming about following the implementation of the cryptocurrency legislation earlier this year.
As it stands, it seems as though the next step for cryptocurrency is a more reliable ecosystem. Price fluctuations over short periods of time need to be handled better – which, according to Danny Kim is in the works. He stated;
As this trend continues, the stabilizing effects of institutional investments will extend beyond price spreads, and on to price fluctuations
So far, bitcoin is trading sideways this year, no real big changes in the market value. But big developments in blockchain have been going on in the background and could pose a promising future for bitcoin and cryptocurrency as a whole.
Share with us what do you think about bitcoin price comparison. Did you think that there could be such a peak? Did you hodl your bitcoins?