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Visualizing the Journey to $10,000 Bitcoin

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Visualizing the Journey to $10,000 Bitcoin

Visualizing the Journey to $10,000 Bitcoin

View the high resolution version of today’s graphic by clicking here.

It has been a breakthrough year for the world’s original cryptocurrency – and on November 28th, 2017, the bitcoin price blew past the psychological barrier of $10,000 with unprecedented pace. After all, it was only two days prior that the cryptocurrency was trading at $9,000.

Today’s infographic from Blockchain Intelligence Group helps to visualize the ups and downs of this incredible journey to $10,000.

The Journey to $10,000 Bitcoin

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

TimeframeDescription
January 2, 2017Bitcoin closes above the $1k mark for first time in 1,124 days
Mid-January 2017China cracks down on crypto, partly to help control capital outflows
March 2017The number of GitHub projects related to Bitcoin passes 10,000
May 4, 2017Bitcoin surpasses $25B in market capitalization
August 1, 2017Bitcoin forks into two digital currencies, Bitcoin (BTC) and Bitcoin Cash (BCH)
August 5, 2017Bitcoin surpasses $50B in market capitalization
September 4, 2017People’s Bank of China announces that it’s implementing a freeze on ICO funding.
September 8, 2017It’s leaked that China is shutting down all Bitcoin exchanges in the country
September 12, 2017JP Morgan’s Jamie Dimon calls Bitcoin a “fraud”
September 28, 2017South Korea bans raising money through ICOs
October 20, 2017Bitcoin passes $100B in market capitalization
October 24, 2017Bitcoin again forks into two digital currencies, Bitcoin (BTC) and Bitcoin Gold (BTG)
October 30, 2017Vietnam bans Bitcoin and other crypto payments
November 26, 2017Bitcoin passes $150B in market capitalization
November 28, 2017Bitcoin trades at $10k for the first time.

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

TimeExact PeriodDescription
138 daysJan 2, 2017 -> May 20, 2017$1,000 to $2,000
23 daysMay 20, 2017 -> June 11, 2017$2,000 to $3,000
63 daysJune 11, 2017 -> Aug 13, 2017$3,000 to $4,000
61 daysAug 13, 2017 -> Oct 12, 2017$4,000 to $5,000
10 daysOct 12, 2017 -> Oct 21, 2017$5,000 to $6,000
13 daysOct 21, 2017 -> Nov 2, 2017$6,000 to $7,000
17 daysNov 2, 2017 -> Nov 19, 2017$7,000 to $8,000
7 daysNov 19, 2017 -> Nov 26, 2017$8,000 to $9,000
2 daysNov 26, 2017 -> Nov 28, 2017$9,000 to $10,000

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).

Note: this article was originally published on Nov. 27th as Bitcoin was trading at ~$9,600. The article and graphic have since been updated to reflect hitting the $10k total.

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