Visualizing The Journey To $10,000 Bitcoin
bitcoin·@zer0hedge·
0.000 HBDVisualizing The Journey To $10,000 Bitcoin
Content adapted from this Zerohedge.com article : [Source](http://www.zerohedge.com/news/2017-11-27/visualizing-journey-10000-bitcoin "Permalink to Visualizing The Journey To $10,000 Bitcoin") --- It has been a breakthrough year for the world's original cryptocurrency. **At time of publication, the bitcoin price is at $9,650 – about 10X higher than how the cryptocurrency started the year.** Further, [as Visual Capitalist's Jeff Desjardins notes][1], bitcoins are **now on the brink of passing the important psychological barrier of $10,000**, and it could do so at any moment based on current momentum. Today's infographic from [Blockchain Intelligence Group][2] helps to visualize the ups and downs of the cryptocurrency on its journey to $10,000. ![][3] [CLICK FOR LARGER VERSION](https://steemitimages.com/DQmPMLQAmykpFbSDMUmQ9nqryZHAYth4BwsSZYeK6PdX68W/image.png) _Courtesy of: [Visual Capitalist][4]_ _Note: once the price hits the $10,000 barrier, we'll do a final update on this graphic to make sure that's represented._ ## THE JOURNEY TO $10,000 BITCOIN Here are some of the key events that transpired over the last 11 months: ![][5] And here is how long it took bitcoins to hit each $1,000 barrier: ![][6] _Note: These time periods are calculated based on closing prices for the Bitcoin Price Index on [Coindesk][7]._ ## THE YEAR OF THE ICO **While the journey to $10,000 bitcoin is an incredible one, it is part of a wider story as well.** Initial Coin Offerings (ICOs) for other cryptocurrencies have also boomed, and more than 92% of all funds raised through ICOs happened in this year alone. With this mechanism hitting the mainstream, about $3.8 billion have been raised through ICOs in total. Further, they've been profitable as well for speculators. A report from Mangrove Capital [last month][8] noted that the average return across 204 ICOs it was tracking was 1,320%. **Despite being temporarily banned in China and South Korea, ICOs have not been slowing down.** So far in this month (up to Nov 26, 2017), ICOs have already hit new highs with $743.2 million raised, surpassing the earlier record-holding month of September 2017 ($662.9 million). [1]: http://www.visualcapitalist.com/visualizing-journey-10000-bitcoin/ [2]: https://blockchaingroup.io/ [3]: http://2oqz471sa19h3vbwa53m33yj.wpengine.netdna-cdn.com/wp-content/uploads/2017/11/10000-bitcoin.jpg [4]: http://www.visualcapitalist.com [5]: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/28/20171127_100001_0.jpg [6]: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/11/28/20171127_100002_0.jpg [7]: https://www.coindesk.com/price/ [8]: http://www.businessinsider.com/ico-mangrove-capital-average-returns-crypto-icos-2017-10 --- <center>**Disclaimer : Account @zer0hedge is not affiliated with ZeroHedge.com.**</center> ###### I read ZeroHedge multiple times a day to find the best articles and reformat them for Steemit. I appreciate the upvotes but consider following the account and resteeming the articles that you think deserve attention instead. Thank you! #### <center> Head over to [ZeroHedge.com](ZeroHedge.com) for a more complete news coverage about what affect the economy, geopolitics & cryptocurrencies.</center>
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