Bitcoin went bonkers in 2017 — here's what happened as the cryptocurrency surged more than 1000%

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December 30, 2017 3:01 PM

Here's a look back at some of the significant events that drove big price swings in the market known for extreme volatility.

Bitcoin, the red-hot cryptocurrency, had a wild run in 2017.
Here's a look back at some of the significant events that drove big price swings in the market known for extreme volatility.

To say bitcoin had a wild 2017 would be an understatement. The digital currency, which started the year under $1,000, has skyrocketed by more than 1,300% to more than $14,500 by December 29 — a rise that's grabbed the attention of Wall Street. That climb was marked by extreme volatility, multiple splits in its network, and naysayers who derided it as a fraud and toy for criminals.

Yet, as we enter the new year it appears the digital currency will continue to mature as a recognized asset class on Wall Street. Already bitcoin futures have begun to trade on major markets — allowing investors to bet on its price without holding the coin itself. As for its future price, some bulls see it going higher than $20,000 in 2018.

Here's a look back at bitcoin's journey in 2017:

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