BITCOIN
Bitcoin Year-End Review

2017-12-29 18:51:01
by Dominic Brown
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2017 has been a bit of a mad year, ending on a wild roller-coaster of soaring and plunging prices, as Bitcoin was launched onto the Chicago futures markets in December.

  2017 has been a bit of a mad year, ending on a wild roller-coaster of soaring and plunging prices, as Bitcoin was launched onto the Chicago futures markets in December. A price rise had been predicted by many financial analysts as a result of this step, which indicated that mainstream financial institutions were dipping a toe for the first time into the cryptocurrency stream.

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Expecting an increased flow of money into Bitcoin to result, the subsequent bull market activity was, to an extent, anticipated. To see it surpass the astronomical $20,000 mark, a growth of almost 2,000% in 2017 alone, was to set the sceptics muttering phrases like \"bitcom bubble\" and \"tulip mania\"

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And, indeed, their pessimism was justified, as the market subsequently sank back to a pre-Christmas level of just under $11,000. Other cryptocurrencies saw similar activity, with Etherium values creeping up, but the end of the bonanza pre-Christmas week saw a drop in the whole market cap of $200bn in 24 hours.

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All is not lost, however, and those who advocate HODL-ing (Holding on for Dear Life) will be watching prices as 2018 ushers in some further mainstream activity. Hedge fund managers, Nasdaq and Wall Street\'s Goldman Sachs, have all announced plans to step into the cryptocurrency river in the forthcoming year, and many people see 2018 as the year digital currencies turn the corner towards universal acceptance.

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