News Bitcoin's journey to $10,000 - Business Insider

Bitcoin’s journey to $10,000 – Business Insider

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bitcoinAndrew Burton/Getty Images

  • 2017 has been a breakthrough year for bitcoin.
  • The digital currency is on the cusp of hitting $10,000
    for the first time.
  • The broader world of cryptocurrencies and ICOs has also
    had a very strong year.

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, 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.

Note: once the price hits the $10,000 barrier, we’ll do a
final update on this graphic to make sure that’s
represented.

Bitcoin's journey to $10,000 - Business Insider

The journey to $10,000 bitcoin

Here are some of the key events that transpired over the last 11
months:


Bitcoin
Visual
Capitalist


And here is how long it took bitcoins to hit each $1,000
barrier:


Bitcoin
Visual
Capitalist


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).

Get the latest Bitcoin price here.>>

Read the original article on Visual Capitalist. Get rich, visual content on business and investing for free at the Visual Capitalist website, or follow Visual Capitalist on Twitter, Facebook, or LinkedIn for the latest. Copyright 2017. Follow Visual Capitalist on Twitter.



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