The price of bitcoin rose more than twenty-fold in 2017, generating huge amounts of interest in the cryptocurrency.After peaking at close to $20,000 in December, bitcoin’s value fell to below $10,000 within a matter of weeks. This precipitated a market-wide crash that saw the price of ethereum, ripple and other leading cryptocurrencies tumble.
As the price of bitcoin continues to rise, some analysts are saying the market is primed for another “price explosion.”
The positive price forecast is in part informed by market activity that has seen a large increase in buy orders for the world’s most valuable cryptocurrency.
- Bitcoin: $9,232
- Ethereum: $679
- Ripple: $0.91
- Bitcoin cash: $1,537
- EOS: $13