Bitcoin has reached another milestone!
At last the most awaited moment has happened ! On January 01, 2017 bitcoin, price has tops 1000$ as expected. Bitcoin price has touched it highest price level after the 3 years, During this 3 years of journey bitcoin has faced a lot of struggles. But we should mention that 2016 was the progressive year for bitcoin industry.
Let us have a review of bitcoin 2016!
2016 were started with the trading price less than 500$. Federal reserve bank announcements in march made a huge impact on bitcoin. And we can strongly say that the price of the bitcoin at the start of 2016 was not fair. But bitcoin had a support via geopolitical events. After the Brexit election in June, bitcoin has climbed the new high value. But in august, the security issues of bitfinex has crashed the whole bitcoin network. Traders loosed their confidence because of the bitcoins theft. Again th bitcoin price has climbed above 750 and it continued to peak. Indian government action toward corruption & announcements of currency demonetization also made a huge impact on the cryptocurrency marketplace & it played a major role in the bitcoin price growth.