Bitcoin Price: How the Halvening Could Influence This Shift

In February 2017, after the coin passed its previous 2013 all-time high, Litecoin jumped by 700 percent, Ethereum by over 1,000 percent, and Ripple by 5,300 percent. The total cryptocurrency market cap reached an all-time high in early January, weeks after bitcoin had slumped from its all-time high.Ĭould “altcoins” see another rise? One analyst, who goes by “ Livercoin” on Twitter, notes that “altcoins” have followed a similar pattern before. In the aftermath of bitcoin’s December 2017 surge, alternatives like Ripple suddenly jumped in price. Bitcoin Price: What About the Altcoins?Īlternatives like Libra, Ethereum and Litecoin tout improvements over the original bitcoin design.

The renewed publicity in cryptocurrency as a technology may be encouraging investors to buy into the world’s largest coin. “Whether people see this as legitimizing cryptocurrencies - being tied to Facebook - or the size of the rally has attracted people seeking quick profits, like back in 2017, isn’t important but it’s clearly helped it find its groove again.” “The latest rally appears to be tied to the launch of Facebook’s Libra coin and the publicity it has received,” Craig Erlam, senior market analyst at Oanda, told Inverse on Tuesday. The coin is set to launch in the first half of 2020, and uses a basket of assets to maintain a more stable price to make international transfers simpler. One theory put forward is that Facebook’s Libra launch earlier this month has renewed interest. As recently as February, the price of one bitcoin fell to just $3,400. Coinbase Bitcoin Price: Why the Cryptocurrency is Surgingīitcoin’s sudden rise is relatively surprising, considering the state of the market earlier this year. Eastern on Jon Coinbase, a cyrpto trading hub, shows a 43 percent increase in bitcoin value in the last month.

Bitcoin price december 2017