The year 2017 is proving to be magnificent for the bitcoin and its users. Just as we were heading close to the year 2017, the BTC price started to show a vigorous incline and finally on the first day itself of this year, it touched the $1000 mark. As a matter of fact, the bitcoin price hasn’t been this high in the last two years. And so it can be conceived as another milestone bagged by the world’s most beloved cryptocurrency. But seeing the ongoing trends, it seems obvious that the bitcoin price could very well attain an all time high at some point of time.

If we have a look at the statistics, the bitcoin price hasn’t been even close to $1000 in the last three years. The last time it reached $1000 mark was back in January 2014 when it surged up to $1,023. But shortly after that, it kept on depreciating and remained relatively low in the months that followed. In 2015, the BTC price couldn’t go beyond $700 throughout the year but the bitcoin users were of course multiplied. The year 2016 however, has proved to be a golden period for bitcoin. Let’s now have a look at some of the best bitcoin moments of 2016.

Also read Bitcoin Processing Units For Mining Cryptocurrency.

The Best Bitcoin Moments of 2016

No doubt, 2016 has been the year of bitcoin since it brought so many surprises and a windfall for the bitcoin community. When the year began, the BTC price was staggering around $450 and by August and September, it went past $700. By the end of 2016, the BTC price was looming as high as $938 which is marvelous seeing the statistics of the past two years.

Well, this was about the bitcoin price. Besides that, the year had much to offer and it completely re-energized the bitcoin community. In the initial months of 2016, the gross market cap of bitcoin was 7 billion USD and in december 2016, it reached as high as 15 billion dollars. The trading volume of bitcoin reached $6.2 billion and there was a whopping three times incline in the number of bitcoin users in 2016. There was also a radical incline in the number of Bitcoin ATMs. In 2014 while there were only 5 bitcoin ATMs, we now have close to 900 bitcoin ATMs located in different regions and different cities of the world.

Bitcoin Price Predictions For 2017

In 2016, the bitcoin price has appreciated by more than 100% which is a positive sign for the following year. In 2017, we might see major elevations in the bitcoin price. The analysts are already predicting a staggering rise of more than 165% in the bitcoin price which means it might go beyond the $2000 mark in the near future. The impending “Spending Binge” might prove to be a major catalyst in appreciating the price of bitcoin in coming months.

In addition to that, the augmenting value of dollar against yuan might be yet another factor to drive the BTC price to unimaginable heights. During the last 3-4 months, the value of dollar has risen by 4% against Yuan and during the exact same period, there was a 21% incline in the BTC price. Seeing these trends, it seems quite obvious that the two might have a close relation with one another and if the dollar tends to rise against Yuan, then the bitcoin price as well, is likely to rise further.