Bitcoin rose last week by more than $ 5,000

The cryptocurrency community is already tired to count each thousand dollars of bitcoin prices as they are added one after another. But last week stood out even in the crazy growth in the second half of 2017. And if as a percentage there is nothing mind blowing — «only» 55% — the absolute numbers are really staggering.

In just the first seven days of December, bitcoin had come all the way up to more than $ 5,000, you have gained more than 50% of its value at the end of November. But less than two months ago, on 12 October, the price of bitcoin for the first time broke the $5 000!

If on the evening of November 30 the lower boundary of bitcoin was price about $9 000 (the difference in exchange is a few hundred dollars, and a single reliable index still is not), then the current price is already approaching $14 500 on dollar-denominated exchanges. At the same time, stock exchanges in South Korea and was demolished all barriers — in terms of the dollar bitcoin there is already more than $18 000!! therefore, on the testimony of indices that are tailored to Asian markets, and should not be relied upon — they now show inflated prices, and the difference continues to grow. Slightly higher price and the ruble-denominated exchanges. So, on Wex and Exmo bitcoin has already crossed $14 500, and in the Russian currency 1 BTC is already worth more than 850 000 rubles. A day or two of such growth, and we can see a million rubles for bitcoin!

Let us follow the chronology of events over the last week, the average prices on major USD exchanges:

November 30 – a bitcoin is worth $9 000

Although at this point the price has already been higher than $11 000, the bears managed to briefly drop the price to 9000. The event alarmed the traders, but was to be expected. The correction was long-awaited.

December 1 – price of bitcoin is $10 800

December started with the fact that the exchange CME has announced the exact date of launch of futures on bitcoin on 18 December. The price reacted to this rapid growth and by the end of the day almost regained the lost positions before.

December 2 – the price of bitcoin is $11 100

The day didn’t stand out with anything special, trade flowed rather sluggishly. But in this day, bitcoin has grown to $ 300

3 Dec – the Price of bitcoin is $11 700

For Sunday, the price has managed to rise to 11 800, to update the maximum
and to correct to $10 500.

December 4 – the price of bitcoin is $11 600

The week began with a drop to $10 500, but by the end of the day the price went back to $11 600 – $700 11. In this day of major events the following happened: Japan controller approved
the work of four other cryptocurrency exchanges as the Chicago CBOE announced the launch of bitcoin futures on December 10, a week earlier CME.

December 5 – the price of bitcoin is $11 800

This day was relatively calm. Price almost did not move, despite the statement of one of the leading stock exchanges of Japan, Tokyo Financial Exchange, which announced
the intention to launch futures on bitcoin in 2018.

December 6 – the price of bitcoin is $13 500

One day the price came all the way to $ 1500. This update is a historic high due, including a statement of the General Director of Intercontinental exchange and Chairman of the Board of the new York stock exchange (NYSE), Jeff Sprecher:

«Maybe we did something stupid without being here [in the launch of futures on bitcoin first. I don’t know what to do with cryptocurrencies».

December 7 – the price of bitcoin exceeded $14 000 and is approaching $14 500

It is obvious that the price is pushing up not only the expectation of an imminent launch of the futures, which can give the opposite effect. Cryptocurrency really «went to mass» — people are investing in them as a few hundred dollars or euros for a «rainy day» and tens and hundreds of thousands in the hope of a quick profit. It is impossible not to recognize that it is increasingly beginning to resemble a bubble. After all, the main stage of its inflation — that massive hype. But the saturation and the collapse may not happen today, but at prices much higher than the current.

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