Chart of the day: Bitcoin history from zero to $2,700 and why it could hit $6000
Nairametrics
May 25, 2017
Bitcoin chart history between July 2010 and May 2017
The chart above reveals the growth trajectory of bitcoin since it came into existence in 2010. Bitcoins has now returned a massive 2700% in just over 7 years. Say what you like of it but this is what the chart says. You can get the interactive chart here.
Bitcoin prices have surged since March 2017 peaking at about $2742 as at Thursday, May 25 2017. Several analysts have tried to explain why Bitcoin is surging and these are some of the reasons proffered;
- Legalization of the currency in Japan for payments
- Interest from Korea and potential adoption from more countries around the world
- The conclusion of a debate about the future of the cryptocurrency where Fifty-six companies around the world and 83 percent of bitcoin miners supported the “Bitcoin Scaling Agreement.” The document lays out an upgrade that should increase bitcoin’s transaction capacity.
- Fresh liquidity flowing into the currency from new converts as well as currency speculators
These reasons suggest Bitcoins could well hit $6000 by the end of the year according to analysts.
