The 2017 Bitcoin bull run is a defining moment in cryptocurrency history, one that sparked widespread interest and turned Bitcoin into a household name. Here’s a quick look at what happened during that unforgettable rise:
1. The Surge to $20,000
In late 2017, Bitcoin experienced a meteoric rise, reaching an all-time high of nearly $20,000 by December. This rapid increase was fueled by a combination of factors including media coverage, retail investor FOMO (fear of missing out), and the growing belief in Bitcoin as a store of value.
2. The ICO Craze
2017 was also the year of Initial Coin Offerings (ICOs), where blockchain startups raised millions of dollars by selling their tokens in exchange for Bitcoin or Ethereum. This massive influx of new projects and tokens added to the hype and contributed to Bitcoin’s rise.
3. Global Attention & Mainstream Adoption
As Bitcoin’s price surged, more people became aware of the cryptocurrency market. Big institutions and financial experts started to take notice, fueling the narrative that cryptocurrency was the future of finance. Companies began to adopt blockchain technology, and Bitcoin was no longer just a niche market for tech enthusiasts.
4. The Aftermath: Bear Market
However, after hitting its peak, Bitcoin’s price started to plummet. By early 2018, the market had entered a prolonged bear market, with Bitcoin d
ropping as low as