Haunterblade

Other Entries

Popular Blogs

Blogs

ONE YEAR FROM THE MAXIMUM PRICE BITCOIN HAS REACHED: $ 20,000 PER BTC

on December 18 at 10:33 AM

On December 17, 2017 the price of Bitcoin reached its highest point in its more than 10 years of history, reaching more than USD 20,000 in some global exchange houses. However, a year later, the picture is completely different, and the price is just over USD 3,400.

At that time,  bitcoin  completed an important investment cycle, with an increase that began in April of that year , when the price was $ 1,700 per unit. However, 2018 was a year of decline, and although the price remained in several valleys during the year (from August to November the price ranged between USD 6,000 and USD 7,200), after 365 exact days, the fall in the price it represents 84%.

 

Coinmarketcap registered maximums below $ 20,000, but many exchange houses in Asia exceeded these prices. Source: Coinmarketcap

 

In addition to bitcoin, the cryptocurrency market experienced a generalized rise in price. Projects financed with  Initial Currency Offers  ICO) of diverse nature benefited from this speculative spiral, reporting high levels of investment. The upward trend of the year also influenced the price of the altcoins. However, today they present losses even  greater than those reported by BTC , which in many cases exceeds 90% .

In the particular case of Bitcoin, although technology has evolved significantly during this year, these technical advances have not affected the price. Neither the success of the adoption of  SegWi t, an update in the code that allows transactions with less cost and greater security, nor the strength of the protocol, which has been proven for ten years, helped the price to rise.

However, both  the delay of the approval of a Listed Investment Fund (ETF)  by the Securities and Exchange Commission (SEC) of the United States, as well as the psychological barrier for new institutional investors to enter the ecosystem, generated more expectations and have had a negative influence on the appreciation of bitcoin. For example, the launch of the derivatives market and custody platform called Bakkt, sponsored by the New York Stock Exchange, which was postponeduntil  2019 , which has been read as a wait for the more traditional sector of finance to begin use bitcoin and the market has a new injection of capital .

In addition, adoption as a means of payment in the case of Bitcoin, or as a solution for recording and handling information, in the case of the altcoins, has not been as expected. On the other hand, the "short" strategies against the BTC market have strengthened the downtrend experienced during the year.

Currently, every bitcoin has a  price of $ 3,450 , with a positive variation of 5% compared to yesterday. The cryptocurrency has an exchange volume of $ 4,182,339,272 in the last 24 hours.

Comments (4)