Given the headlines Bitcoin has made in the recent time, it is not strange to see it TWICE in the Google’s most-searched list for 2017.
The crypto currency has come out as the second most Googled news in the five biggest global news stories of 2017, only behind Hurricane Irma. Bitcoin is followed by the Las Vegas Shooting, North Korea and Solar Eclipse in the five most searched global news events of the year.
The popularity of Bitcoin skyrocketed this year. “How to buy Bitcoin” was the third most searched in the “How To…” category of Google searches, only after “How to make slime and “How to make solar eclipse glasses.”
The digit currency has taken the world by storm, appreciating 1800% in a single calendar year.
Bitcoin was trading around $1,000 at the start of the year. As the year draws close, it has grown manifolds, registering an all-time high of $18,353 on December 8, 2017. Can you believe it? That’s an 18-fold gain in the value of a Bitcoin!
The speculation around Bitcoin has increased with its price. A lot of industry experts have been calling it “a bubble about to burst”. The mainstream finance continues to maintain a distance from the crypto world.
However, a U.S. based exchange starting Bitcoin futures contract recently has given some credibility to the digital currency trade.
In Japan, Bitcoin became a method of payment in April 2017. Presently, there are over 260,000 food establishments and retail stores across the country that accept crypto currency. Venezuela is another country to have announced oil-backed cryptocurrency recently. A precedent for other countries?
There were reports of Amazon to beginning to accept Bitcoin. If that happens, there is only one way road for the crypto world.
The crypto currency with a market cap of $277,245,306,525 has performed better compared to every central bank-issued currency in every year since 2011, except 2014. The impressive gains this year have garnered a lot of attention.
Not just Bitcoin, the entire crypto currency market seems to have the momentum with it. On December 13, the crypto market’s cumulative market cap went past the $500 billion mark for the first time. The Wednesday’s rally was driven by the surge in the price of Bitcoin rivals – Ethereum, Ripple and Litecoin.
Ethereum, the second largest digital currency by market cap, has broken the $700 barrier for the first time on Wednesday, surging as high as $786. According to CoinDesk website, the price of Ethereum has risen more than 5000 percent since the start of the year.
Where do we go from here? There are speculations of gains as huge as $50,000 or even $500,000 per coin.
Has cash seen its days? Will all currencies soon be digitized? Is smart money the next big thing? Only time has the answer.
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