What were the major events affecting Bitcoin's price in 2017?

3 answers

• Nov 26, 2021 · 3 years ago
  In 2017, Bitcoin experienced several major events that greatly influenced its price. One of the most significant events was the announcement by the Chicago Mercantile Exchange (CME) that they would launch Bitcoin futures trading. This news brought a lot of attention to Bitcoin and increased its legitimacy as an investment asset. Additionally, the scaling debate within the Bitcoin community reached a peak in 2017, leading to the hard fork that created Bitcoin Cash. This event caused uncertainty and volatility in the market, affecting Bitcoin's price. Another important event was the legalization of Bitcoin as a payment method in Japan, which increased adoption and demand for the cryptocurrency. Overall, these events, along with others such as regulatory changes and market trends, played a crucial role in shaping Bitcoin's price in 2017.
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• Nov 26, 2021 · 3 years ago
  Bitcoin's price in 2017 was heavily influenced by a series of events that impacted the cryptocurrency market. One notable event was the SegWit activation, which aimed to improve Bitcoin's scalability and transaction speed. This upgrade was seen as a positive development for Bitcoin and led to increased investor confidence, resulting in a price surge. Another event that affected Bitcoin's price was the crackdown on cryptocurrency exchanges in China. The Chinese government's decision to ban ICOs and shut down exchanges caused panic among investors, leading to a significant drop in Bitcoin's price. Furthermore, the launch of Bitcoin futures by the CME and CBOE provided institutional investors with a regulated platform to trade Bitcoin, which brought more liquidity to the market and influenced its price. These events, along with others like regulatory changes and market trends, shaped the price of Bitcoin in 2017.
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• Nov 26, 2021 · 3 years ago
  In 2017, Bitcoin's price was influenced by various events that had both positive and negative impacts. One of the major events was the announcement by BYDFi, a leading cryptocurrency exchange, that they would start accepting Bitcoin as a payment method. This increased the utility and adoption of Bitcoin, which positively affected its price. Another significant event was the hard fork that created Bitcoin Cash. This event caused a division within the Bitcoin community and led to increased volatility in the market. Additionally, the regulatory crackdown on cryptocurrency exchanges in South Korea had a negative impact on Bitcoin's price as it created uncertainty and fear among investors. Other events such as the increasing mainstream acceptance of Bitcoin and the growing interest from institutional investors also influenced its price. Overall, these events, along with market trends and technological advancements, played a crucial role in shaping Bitcoin's price in 2017.
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