2017 became known as the year where cryptocurrencies went stratospheric as prices hit new highs ahead of its entrance into the new year. The price that Bitcoin had originally started at in January, valued at less than $1,000, has now soared above $14,000 per coin.
Back in 2011, the digital currency was worth less than a dollar with many of its backers investing in a new global monetary platform. In a frenzy, prices have taken off with mainstream investors entering the foray looking to cash in on the opportunity as cryptocurrency trading gains more traction worldwide.
Regulatory changes spurring crypto boom
In an encore performance of 2016. bitcoin has outperformed all the reserve currencies in the global market once again, recording a staggering 2,011 percent increase in value.
Throughout the year, buyers have mostly been new traders catching the crypto-bug and the “fear of missing out” on potential growths. Especially in Japan and South Korea, where recent regulatory changes have made it easier than ever before to trade Bitcoin.
The future looks promising as not only Bitcoin, but all cryptocurrency portfolios across the realm have greatly appreciated this year. Ethereum (ETH), currently valued at over $750, has rocked a 9,000 percent increase and Litecoin (LTC), currently worth $280, has also appreciated 4,400 percent, both representing the trend of what’s happening across the board.
What does the future hold?
Cryptocurrency is here to stay as rest of the world rushes to match supply to demand, with financial institutes like Goldman Sachs jumping in line to unveil new products for consumers. Brokerages who wish to expand their product offerings to their clients can consult with fintech solutions experts such as Broctagon Fintech Group and capitalize on the market trend today.
Broctagon, the fintech specialist, is expanding into the Southeast Asian markets, offering new and exciting cryptocurrency products as well as the ability to benefit from 1:5 leveraged crypto-trading.