CBOE and CME launch Bitcoin futures markets, NYSE has filed for two Bitcoin ETFs, and Bitcoin price surged 1,300% over the year. In short, 2017 was nice and good for Bitcoin.. At the same time, in 2017 Bitcoin became too big to ignore.. As Bitcoin becomes more valuable, there has been an increase in the number of tradesmen accepting Bitcoin payments worldwide.. Let’s examine this data.
First Quarter 2017: Small growth- 5.5%
According to Coinmap.org, 8,207 trades in total on January 3, 2017 accepting Bitcoin as a means of payment in exchange for its services and products. On March 28, 2017, three days before the end of the first quarter, 8,665 businesses were accepting Bitcoin.. For the first three months of 2017, there was a 5.58% increase in businesses accepting Bitcoin.
BTC Price: Calm growth- 7%
On the first day of the year, 1 Bitcoin price in January 2017 was around $979.5. It was 13 times less than the price of Bitcoin, which is currently around $ 13,900. On March 31, 2017, the last day of the first quarter, the price of Bitcoin was $1,045.03. During the first quarter, the price grew by 6.9%.
2017 Second Quarter: Stable growth – 5%
8,682 jobs on April 4, 2017 accepting bitcoin. On June 27, 2017, 9,143 businesses accepted Bitcoin, three days before the end of the second quarter.. Compared to the previous number, 461 new businesses started accepting Bitcoin, resulting in a 5.3% growth in the number of businesses accepting Bitcoin at the start of Spring 2017.
BTC Price: Up – 135%
Bitcoin price was $1,069.78 on April 1, 2017. On the last day of the quarter, this price advanced to $ 2,519.27. The price of Bitcoin has grown by $1,449.49, or 135%.
The Rates Rise in the First Half of 2017
The numbers obtained when the first and second quarters are combined are the results of 2017. shows the first six months. In the first half of 2017, there was an overall 11.4% increase in businesses accepting Bitcoin.. Started accepting Bitcoin as a means of payment in exchange for 936 new workplace services and products. The average increase in businesses that started accepting Bitcoin was 5.44%. From the first day of the first quarter to the last day of the second quarter, Bitcoin price grew by a total of $1,501.1 – 147.43%.
The Third Quarter of 2017: The frenzy begins- 8.5% growth
While 9 thousand 176 businesses accepted Bitcoin on July 4, 2017, this number increased to 9 thousand 972 on September 26, 2017 and 796 new tradesmen joined the workplaces accepting Bitcoin payments.. This resulted in a growth of 8.67%.
BTC Price: Again Increase- 74%
Bitcoin price on July 1, 2017, the first day of the third quarter From $2,458.14, this price rose to $4,286.64 at the end of September. From July 1 to September 30, 2017, the price of Bitcoin increased by $ 1,828.5, or 74%.
The Journey Begins
The third quarter, both Bitcoin price and Bitcoin accepting businesses , showed a very serious growth compared to other quarters. An increase in price means an increase in demand, and given the developments in the name of Bitcoin in the third quarter, the increase in demand was not surprising.. The stories of investors who invested in Bitcoin and made astronomical profits this quarter began to be reflected in the media, Bitcoin received worldwide media coverage, and Bitcoin, which is often associated with money laundering and illegal business in general, started to be promoted positively this quarter for the first time.. Of course, besides these, Bitcoin broke new records in price, and then it started to spread everywhere.. Bitcoin, which had a price of around $ 2-4 thousand in these periods, was now seen as a “runaway train” in the eyes of many people, and it was thought that there would be no point in buying Bitcoin after that time.. The price is currently pushing the $14,000 level.
Q4 2017: More businesses – 12%
On the third day after entering the fourth quarter, October 3, 2017 10 thousand 40 businesses were accepting Bitcoin in .. On December 19, 2017, 11,291 businesses were accepting Bitcoin.. Compared to the beginning of the quarter, there was a 12.4% increase in businesses accepting payments with Bitcoin.
BTC Price: We are flying- 224%
In the fourth quarter, a total of 1,251 new business starts accepting payments in Bitcoin, the biggest increase of the year. At the start of the fourth quarter, the Bitcoin price was around $4,317.24, but on December 17, the price reached an all-time high of $20,000.. However, in the last days of December, there was a significant decrease in the crypto money market and the Bitcoin price decreased to $ 14 thousand.. However, the price of Bitcoin increased by $9,885.79, or 224.35%, when compared to the data at the beginning of the quarter.
The Rates Soared in the Second Half of 2017
In the second half of 2017, we used Bitcoin as a means of payment. The number of accepting businesses increased by 2 thousand 115 in total.. Looking at the time from July 4, 2017 to December 19, 2017, this amount corresponds to a 23% increase.
The number of businesses accepting Bitcoin increased by an average of 10.57% per quarter.. It has almost doubled the average increase per quarter in the first half of 2017.
BTC Price: It keeps increasing, we can’t stop
January 1, 2017′ At the same time, the Bitcoin price was $979.53 and by the end of December, the price had risen to $14,000.. The overall price increase from the first day of the first quarter to the last day of the last quarter was approximately 1,329 percent, with the Bitcoin price growing by $13,000.
Cryptocurrency Madness
Behind the recent decline in Bitcoin price The underlying reason may be that newcomers to the market do not know that the cryptocurrency market is much riskier than the NASDAQ or NYSE.. While the price of Bitcoin has dropped significantly, the market hurt the weak-handed. In other words, individual investors who have just entered the market panicked and sold.
Those who did not panic and held, of course knew that when the Bitcoin price drops, one should not worry or be afraid.. Because these people know that the price changes in the crypto money market challenge even the roller-coaster in the most notorious amusement park.. Sometimes there are such increases that you feel as if you are coming out of the Earth’s atmosphere.. However, sometimes there are such drops that you feel as if you start falling from outside the atmosphere and come back to Earth like a meteor, and you will go down to seven floors of the ground.. Then come stress, helplessness, restlessness, then increase your adrenaline level.
The data shows us that there is a 0.7994% Pearson correlation between Bitcoin price and businesses willing to accept Bitcoin as a payment tool.. In other words, when the price of Bitcoin increases, it is quite possible to see an increase in the number of businesses that accept payments with Bitcoin.
The best part of all this is that the fun is just beginning.. We can call it a “cryptocurrency craze,” but you can’t tell, the fun may not last long.
Although the interest and demand for digital tokens is increasing significantly, the market cap of all digital assets is around $654 billion and this number is still on the NYSE.
2017 has been really good for Bitcoin.. There was an increase of 1,300 percent, 3 thousand 84 new workplaces accepting payments with Bitcoin came, and a total increase in the price of 13,023.53 dollars was observed.. These are not empty things.
In 2017, we also saw institutions that added Bitcoin investment options to their services in order to meet the demands of their customers.. But big institutional investors haven’t even entered the market properly yet.. Institutional investors aka Wall Street heavyweights are planning to enter the market in the first quarter of 2018, along with several proposed Bitcoin ETFs. In addition to institutional investors, there is a significant increase in the number of individual investors who are interested in digital currencies and want to enter the digital currency market.
We are excited to see what blockchain technologies and especially Bitcoin, which uses this technology for the first time, will bring in 2018. it will be rewarding. But now, the fact that Bitcoin is being talked about in news channels, in our local markets and especially in barbers(it’s important if something is talked about here…) seems to indicate that the market will grow.
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