Bitcoin is Just $100 Away From Doubling its Price in 2017

Bitcoin's price has nearly doubled so far in 2017, rising from $1,000 at the end of last year to a new all-time high of $1,900 today.

AccessTimeIconMay 19, 2017 at 12:41 a.m. UTC
Updated Sep 11, 2021 at 1:20 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
coindesk-bpi-chart-121

The price of bitcoin has hit a new high on the CoinDesk Bitcoin Price Index (BPI), reaching an $1,902 average across global exchanges.

While one in a string of new all-time highs the digital currency has so far set in 2017, this one is perhaps notable as it means the price is now within striking distance of $2,000, a figure that would effectively find the asset doubling in value in 2017.

Bitcoin traded for just over $1,000 on 1st January, but has edged up sharply amid increasing media exposure for its technology and those in the wider blockchain tech sector. Indeed, on at least two exchanges – Poloniex and Bitfinex – the price was even hovering just over $1,960.

Year-over-year, the price of bitcoin is up 300%, having risen to $1,900, up from $453 on 18th May, 2016. At press time, bitcoin's market capitalization (the value of all bitcoins in existence) was $31bn.

Still, the move comes amid a broader boost in the cryptocurrency market, which broke the $60bn barrier today.

The increase has taken place amid strong surges from Ripple's XRP, which seeks to lower costs in enterprise cross-border payments, and ethereum's ether token, a cryptographic asset that powers its decentralized app network.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.