Exploring the Price Gains for Bitcoin and Ethereum

The enormous cryptocurrency price gains in November and December 2017 have generated massive public interest in Bitcoin and other digital currencies. This rise has also allowed some early investors to claim paper profits in the hundreds of millions of dollars. The famous Winklevoss twins from the Facebook origin story are now reportedly some of the first Bitcoin billionaires.

And the investing community is taking notice, with new futures markets for Bitcoin starting up, a move which many see as legitimizing the cryptocurrency among the broader investing public.

Hitting $1,000 incremental milestones for Bitcoin is now happening in a matter of hours, with the price in some cases moving up several thousand dollars in less than an hour. Here are some of the milestones that have happened to the price of BTC.

  • In the spring of 2011 Bitcoin reaches parity with the U.S dollar. $1,000 invested at $1.00 would be worth $17 million at the $17,000 price point.
  • BTC moves above $1,000 for the first time in November of 2013, but quickly falls.
  • The cryptocurrency started 2017 at a price less than $1,000.
  • On December 7, 2017 the currency nearly eclipsed $20,000, after hitting the $10,000 milestone for the first time on November 28, 2017.

While Ethereum is garnering less attention due to the rise of Bitcoin, it has still enjoyed returns that outperform nearly any other investment vehicle. The price of one Ether coin in January 2016 was around $1.00 per coin, and it’s now hovering around $450, so $1,000 invested at that point would be worth close to $450,000 today. Many in the cryptographic community see tremendous value in Ethereum’s blockchain, especially its suitability for “smart contracts” and expect the price to accelerate quickly in the coming years.

When investing in a Bitcoin or Ethereum IRA, it’s important to look past the recent meteoric price gains and instead see the potential of both cryptocurrencies as attractive long-term investments.


Add Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

How Kendall Jenner Achieved a Net Worth of over $40 Million
Lessons Learned Starting an Unplanned Business
10 Things You Didn’t Know about Johnson and Johnson CEO Alex Gorsky
How George Lucas Achieved a Net Worth of $5.3 Billion
Tax Form 8949 Instructions for Reporting Capital Gains and Losses
Convenience Costs: But Not With Self-Directed Retirement Plans
10 Benefits of Having a Lane Bryant Credit Card
10 Benefits of Having a Maurices Credit Card
What Is Graphene Armor And How Is It A Game Changer?
The Bionic Lens Could Lead to Better Than 20/20 Vision
How Bladeless Wind Turbines May Power the Future
What is the Virgo Supercluster and Why Does it Matter?
The Five Best 5-Star Hotels in Bangalore
The Five Best Mexican Restaurants in Tucson, AZ
Five Unique Places to Stand-up Paddle Board Around the World
10 Things to Do in Kansas City for First Time Visitors
The 10 Best Muscle Cars of the 1980s
The History and Evolution of the Porsche 356
The History and Story Behind the Bentley Logo
Why You Should Consider Gotham Dream Cars for a Supercar Rental
The Five Best Seiko Dive Watches on the Market Today
The Five Best Tommy Hilfiger Watches on the Market Today
The Five Best Vostok Watches on the Market Today
The Five Best Raymond Weil Watches on the Market Today