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A new year approaches! Where will bitcoin be in 2017?

A new year approaches! Where will bitcoin be in 2017?

This year has been an insane year for Cryptocurrency. As the price rose from $400 – $500 USD a coin to almost double that throughout the year, has shown increasing strength of CryptoCurrency in the world.

The Bitcoin block reward halving, which took place as Block 420,000 this year marked a time of reduced incoming supply, as the Block Reward halved from 25 to 12.5 Bitcoins + Transaction fees. This has likely contributed to the price rise!

The release of the Antminer S9, a 14 TH/s miner with 1290 watts at the wall, and it’s little companion, the R4, an 8.7 TH/s miner for home users which consumes 850 watts at the wall.

The addition of Etherium to Coinbase, and the rise of Etherium.

The solution to the block size debate, SegWit which is likely to be activated on the Litecoin network soon, as Bitcoin users are not gaining consensus on the matter.

The promotion of coin security and an increase in the security of Multisig wallets.

The IRS summons on Coinbase and the subsequent fight, showing the risks of using a third party company to store your coins.

The Bitwage for wages in India, allowing wages to be paid.

The Bitcoin price now standing at $1000 USD, it is likely we will see more crypto currency growth.

These are just some of the major event of 2016, it has been one of the most intense years for Cryptocurrency, even surpassing the years 2013 and 2014.

It will be interesting to see what the year 2017 holds for the world of Cryptocurrency! Happy new year everyone!