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Bitcoin Hits $20k: Looking Back on 2017, Forward to 2018

One year ago today, the bitcoin price was $788 USD. And from there, it took bitcoin just under 12 months to eclipse the astonishing price milestone of $20,000.

No one thought such a surge could happen so quickly, but Bitcoin has outdone itself once again.

The first-mover cryptocurrency first flirted with the $20k price point on December 7th, when the BTC price surged up several thousands of dollars to upwards of $19,200 on Coinbase’s trading exchange GDAX before settling back down and going sideways for several days.

Bitcoin Price Almost Touches $20k In Acute Global Volume Surge

Then, the number one crypto by market cap was finally able to make it over the hump on December 17th as acclaimed tracking service Coin Market Cap had the bitcoin price briefly passing over $20k:

Bitcoin
$20k hit on Sunday, Dec. 17th.

That makes for just the most recent all-time price high milestone for bitcoin in what’s been a year brimming with constant new all-time highs.

For instance, back in March is when this current bull phase seemingly began. On March 3rd, the bitcoin price hit $1,280 in what investors at the time thought was an astonishing development.

The price milestones have continued rapidly since then:

  • $2,875 on June 11th
  • $4,674 on September 1st
  • $7,598 on November 5th
  • $11,427 on November 29th
  • +$19.5k on December 8th
  • $20k on December 17th

As you can see (and have surely felt), the growth is accelerating at an incredible rate. And perhaps it’s only time to buckle in tighter, as even higher prices are apparently just on the horizon.

That’s per critically-acclaimed technical analyst Ramiro Burgos, who correctly predicted the bitcoin price’s surges past $10,000 and $20,000 in recent weeks.

Now, Burgos’ charts have a jaw-dropping $45,000 bitcoin price in the “crosshairs” for the coming months. If true, 2018 is set to be an even bigger year for BTC than 2017 was.

TLDR: The bitcoin price hit $20,000 USD in December 2017 after a monstrous year. Now, the bitcoin price seems poised to eclipse $40,000 in 2018.

William M. Peaster is a cryptocurrency journalist and copy-editor based out of El Paso, Texas. He's an avid fan of Ethereum, ERC-20 tokens, and smart contracts in general.

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