Since its creation in 2009, Bitcoin has been a hot topic of discussion in the world of finance and investment. The digital currency’s value has fluctuated wildly over the years, with some investors seeing it as a lucrative opportunity, while others are wary of its volatility. One of the most significant periods in Bitcoin’s history was in 2017 when the price of the cryptocurrency skyrocketed. So, how much has Bitcoin gone up since 2017?
In January 2017, Bitcoin was trading at around $1,000. By December of the same year, its value had surged to an all-time high of almost $20,000. This represents an increase of 1,900% in just 12 months. The sudden spike in value saw many investors flock to Bitcoin, hoping to cash in on the digital currency’s meteoric rise.
However, the price of Bitcoin was not to remain at its peak for long. In 2018, the cryptocurrency market experienced a huge downturn, with many digital currencies losing significant value. Bitcoin was no exception, and by the end of the year, its price had dropped to around $3,000, representing a decrease of over 80% from its 2017 high.
Since then, the price of Bitcoin has been on a rollercoaster ride, with frequent periods of volatility. However, the overall trend in recent years has been positive. In 2019, Bitcoin started the year trading at around $3,500, and by the end of the year, it had risen to almost $7,000, representing an increase of 100%.
The COVID-19 pandemic had a significant impact on the global economy and financial markets, and Bitcoin was no exception. In March 2020, the cryptocurrency experienced a sharp drop in value, falling to around $4,000. However, it quickly bounced back, and by December of the same year, it had reached a new all-time high of over $23,000, representing an increase of almost 500% from its March low.
The year 2021 has been a particularly exciting one for Bitcoin investors, with the cryptocurrency breaking new records. In February, Bitcoin surpassed $50,000 for the first time, and by April, it had reached an all-time high of over $64,000. As of August 2021, Bitcoin is trading at around $45,000, representing an increase of around 350% since the start of the year.
So, how much has Bitcoin gone up since 2017? As of August 2021, Bitcoin is trading at around $45,000, representing an increase of around 125% since its all-time high in 2017. While this may seem like a modest increase compared to the cryptocurrency’s previous highs, it is worth noting that Bitcoin has experienced significant volatility over the past few years.
Despite its volatility, Bitcoin remains a popular investment option for many people worldwide. Some investors see it as a store of value, similar to gold, while others see it as a way to make quick gains. While the future of Bitcoin remains uncertain, one thing is clear – it has come a long way since its humble beginnings in 2009, and its impact on the world of finance and investment is likely to continue for years to come.