Literally just one massive chart that says everything about bitcoin in 2017

Eight days.

That’s how long it took bitcoin BTCUSD, +0.48% back in April 2013, to rise from $100 for a single bitcoin to $200.

Fast forward four years and the cryptocurrency has shot up over the $5,000 mark and has been scaling $100 milestones in a matter of hours on a routine basis. On Wednesday evening, the price of a single bitcoin was around $4,800; by Thursday afternoon it had shot up to top $5,300 for the first time.

While these milestones have become lesser and lesser accomplishments as bitcoin has continued to blaze along its upward path — bitcoin would now only need to rise 1.9% to go from $5,300 to $5,400, compared with 100% when it doubled to $200 — it is also indicative of just how astonishingly fast the digital currency has been rising this year. So fast we are barely able to fit all the milestones onto this whopper of a chart (and have been updating it many, many times this year).

Read: ‘Fraud.’ ‘More than a fad.’ The words Wall Street CEOs are using to describe bitcoin

Also read: 22 internet memes that let you relive bitcoin’s historic rise

If that chart isn’t making bitcoin’s staggering ascent abundantly clear, here are some more stats that should do the job:

• One year ago, on Aug. 31, 2016, bitcoin was trading at $640.

• Which means bitcoin is up over 727% over the past 12 months.

• It closed 2016 trading at about $954.

• So, thus far in 2017, it is up over 450%.

• Bitcoin surged 66% over the month of August, during which it zoomed through 17 $100 milestones.

• The cybercurrency has risen by about 75% since hitting a low of $2,985.24 in mid-September.

• It had been vacillating in the $4,300-$4,500 range for much of October before suddenly zooming up to $5,300 today. Why? Well…

• There have been 10 days in 2017, five in August alone, in which bitcoin has scaled past several $100 milestones in a single day.

• At current levels, bitcoin has a market cap of $88.35 billion, larger than such companies as Starbucks Corp. SBUX, +0.59%   and American Express Co. AXP, -0.38%  

(Bitcoin prices according to CoinDesk.)

This is where we’ll remind you that as the elder sibling of the cryptocurrency gang, bitcoin’s numbers actually pale in comparison to some of its brethren:

• Ether has soared more than 3,500% this year. Its total market cap stands at $29.1 billion.

• Bitcoin Cash, an offspring created in response to bitcoin’s transaction-size issue, has a market cap of $5.3 billion. (Though it is significantly down from an all-time high above $860, hit on Aug. 19.)

• Ripple, at about $0.25, is up nearly 3,900% this year. Market cap at latest check: $9.8 billion.

• Litecoin, at about $56.5, is up over 1,200% since the beginning of this year, when it was trading at just over $4. Its market cap now stands at just over $3 billion.

• The combined market cap of all digital currencies is above $163 billion, according to CoinMarketCap.

Filed in: Top News Tags: 

You might like:

Market Extra: What you need to know about Turkey’s election this Sunday Market Extra: What you need to know about Turkey’s election this Sunday
Audiobooks found to elicit a greater emotional response than movies or television Audiobooks found to elicit a greater emotional response than movies or television
Videogame addiction is now an official disorder—but will health insurers pay for it? Videogame addiction is now an official disorder—but will health insurers pay for it?
Personal Finance Daily: Videogame addiction is now an official disorder and watch how these soccer players in the World Cup cash in Personal Finance Daily: Videogame addiction is now an official disorder and watch how these soccer players in the World Cup cash in
numberFire: 8 big questions surrounding the NBA Draft numberFire: 8 big questions surrounding the NBA Draft
MarketWatch First Take: After Krzanich exit, Intel must do something it has never done MarketWatch First Take: After Krzanich exit, Intel must do something it has never done
In One Chart: Small-cap stocks are crushing it, but here’s a reason to ‘pause’ before jumping in In One Chart: Small-cap stocks are crushing it, but here’s a reason to ‘pause’ before jumping in
CryptoWatch: There has been an ‘uptick in criminal and terrorist exploitation’ using virtual currencies, says House committee CryptoWatch: There has been an ‘uptick in criminal and terrorist exploitation’ using virtual currencies, says House committee

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.