Trading is risky, and most day traders lose money. Ross's results are not typical. All information provided is for educational purposes and is not investment advice or buy/sell recommendations. Read our full disclaimer.

Warrior Trading Blog

Bitcoin Price Smashes Through $10,000 Level

Bitcoin Price

Bitcoin Price Smashes Through $10,000 Level

Bitcoin prices may have been on a tear for the majority of 2017, but the end of the year has seen an unprecedented increase in value, just recently breaching the $10k threshold.

Some people are convinced that Bitcoin prices are just getting started, and that we are at the start of a revolution in how people use currencies and conduct transactions. Other people have suggested that the sudden widespread popularity of Bitcoin represents a bubble that will end in tears for many investors.

Let’s take a quick look at what happened to Bitcoin prices in 2017 and what the future might hold.

2017 Bitcoin Prices: A Volatile Year

While Bitcoin has so far surged 900% in 2017, the direction of Bitcoin prices has been far from a straight line. Bitcoin prices have undergone a number of ups and downs in 2017, as they faced potentially catastrophic splits among Bitcoin supporters, the introduction of securities and investment vehicles tied to Bitcoin, the bad press from a number of major figures in the world of finance, among a number of other positive and negative factors.

The most recent surge in prices has been tied to a growing awareness and acceptance of Bitcoin and other crytpocurrencies in mainstream culture. Whether this is the start of a new era marked by mass acceptance or the end of a period of mania marked by mass hysteria remains to be seen.

The Future of Bitcoin Prices

The future of Bitcoin prices now depends on how widely accepted Bitcoin becomes as a means of storing value and undertaking transactions. If the ability of average people to buy, sell and spend Bitcoins continues to grow, then there is no telling how high Bitcoin will go.

However, if Bitcoin remains little used by actual people as a store of value and means of transacting, then the current mania will likely pass and the stratospheric increase in Bitcoin prices will either slow or reverse.

Regardless of what happens Bitcoin has earned its place in history, and people cannot wait to find out what Bitcoin’s future holds.

Recent Posts

The Similarities Between Crypto and Stock Trading

  There’s endless media stories about how many new and young millionaires the crypto market has created. While crypto isn’t new (it’s been around in some form since 2009 with the advent of Bitcoin), it’s only reached the high level of mainstream appeal since 2020.  As such, you can hardly go to a bar and […]

Read more
Iris Energy IPO

Bitcoin Miner Iris Energy Goes Public

  Iris Energy Limited (NASDAQ: IREN), an Australian company that has been mining bitcoin since 2019, is the latest of its kind to go public. The company made its Wall Street debut on Wednesday, Nov. 17. Iris priced its initial public offering at $28 a share Tuesday evening, raising at least $231.5 billion at a […]

Read more

What Will Happen To Bitcoin Once All 21 Million Are Mined

  There are thousands of cryptocurrencies that you can publicly trade today, as others continue to get into the market. Most of these cryptocurrencies don’t have much trading volume and aren’t well known. Bitcoin (BTC) is the original cryptocurrency. As the first digital coin, bitcoin is also the world’s most popular and valued cryptocurrency in terms of market cap. Other widely […]

Read more
Coinbase

Coinbase Goes Public: Is It A Buy?

  Coinbase (COIN), the leading cryptocurrency exchange, has finally made its market debut after confidentially submitting its IPO paperwork in December 2020. If you don’t know what Coinbase is, it’s the most popular place for retail traders and investors to buy and sell various cryptocurrencies, including Bitcoin, the most popular, and Ethereum. The San Francisco-based […]

Read more