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Bitcoin Price Tops $1,000 in First Day of 2017 Trading

The price of bitcoin passed $1,000 during the first day of trading in 2017.

Jan 1, 2017 at 9:04 p.m. UTC
Updated Sep 14, 2021 at 1:58 p.m. UTC

coindesk-bpi-chart-77

The price of bitcoin inched upward over the course of trading today, passing $1,000 for the first time on CoinDesk Bitcoin Price Index since early January 2014.

Though the price (at press time) was still shy of a three-year high of $1,023 set in January of that year, the milestone nonetheless marks a bright beginning to 2017 for the digital currency. (Bitcoin appreciated by more than 100% in 2016).

The price had reached as high as $999 earlier in the day only to fall back to the $960s, a pattern that was similarly observed over the last week of trading as bitcoin failed to build momentum toward $1,000.

The increase notably took place during what was a day of lower-than-average trading volume, 7-day exchange data from Bitcoinity reveals.

As asserted by analysts, 2017 is expected to be a banner year, one that could finally lead the price to pass its all-time high of $1,216.7 set in 2013.

For more on how markets analysts view 2017, find our latest feature here.

Fireworks image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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