Historic Milestone for Bitcoin
On November 28, Bitcoin achieved a historic milestone as its price surpassed $10,000 (approximately ¥66,000) on multiple South Korean exchanges. This marks the highest circulating price for the pioneering cryptocurrency since its creation in 2009.
Investors who held just one Bitcoin since early 2017 have seen remarkable returns approaching 12 times their initial investment when accounting for:
- Bitcoin's price appreciation
- Value from fork-generated coins (BCH, BCG, BCD)
The 2017 Bitcoin Boom: Key Market Developments
Explosive Growth Trajectory
- January 2017: Bitcoin traded at ~¥6,000 after regulatory pressures
- September peak: Surpassed ¥30,000 during ICO frenzy
- Post-regulation: OTC markets revitalized trading activity
- November 28: $10,000 breakthrough represents 10x annual growth
Market Dominance Metrics
According to CoinMarketCap.com:
- Total cryptocurrency market capitalization: ~$301.5 billion
- Bitcoin's market share: ~$160 billion (53% of total)
Fork-Generated Value
The 2017 forks created substantial additional value:
| Fork Coin | Quantity per Bitcoin | Current Estimated Value |
|---|---|---|
| BCH | 1 | ¥8,000+ |
| BCG | 1 | ¥4,000+ |
| BCD | 10 | ¥4,000+ |
| Total | ¥16,000+ |
Driving Forces Behind the Rally
Three Primary Market Catalysts
International Demand Surge
- Sustained price differentials indicated strong overseas buying pressure
- Key markets: U.S., Japan, South Korea
Institutional Participation
- Chicago Mercantile Exchange's planned Bitcoin futures launch (2018)
- Major corporations discreetly entering crypto investments
OTC Market Innovation
- Escrow-style platforms reducing counterparty risk
- Increased liquidity through alternative trading channels
Notable Success Story
In 2015, a Wanxiang Group subsidiary invested $500,000 in 410,000 ETH. At current valuations:
- Investment growth: $50M → $1.9B+ (¥12.5B)
- ROI comparison: Exceeds Wanxiang's 2016 annual profits (¥10B)
Market Outlook and Predictions
Some bullish investors anticipate Bitcoin reaching ¥100,000 per coin by year-end, driven by:
- Expanding institutional adoption
- Maturing derivatives markets
- Continued retail interest
Bitcoin Investment FAQs
Q: How do Bitcoin forks create value for holders?
A: When chains split, holders automatically receive new coins at predetermined ratios, effectively multiplying their asset portfolio without additional investment.
Q: What's driving Bitcoin's price stability despite regulatory changes?
A: Decentralized OTC platforms and international arbitrage opportunities have maintained liquidity, while institutional interest provides underlying demand.
Q: Are major corporations really investing in cryptocurrency?
A: While most activity remains undisclosed, verified cases like Wanxiang's ETH investment demonstrate significant institutional participation. 👉 Learn how institutions approach crypto investments
Q: What makes 2017's growth different from previous Bitcoin rallies?
A: The convergence of three factors: mature OTC markets, institutional involvement, and legitimate fork-derived value creation represents unprecedented market depth.
Q: How can beginners safely participate in Bitcoin investment today?
A: Reputable OTC platforms with escrow services and regulated futures markets (coming 2018) offer progressively safer entry points. 👉 Discover beginner-friendly crypto platforms
Q: Why do analysts remain bullish despite the $10K milestone?
A: Expanding use cases (smart contracts, Lightning Network) and finite supply (21M cap) continue supporting long-term valuation models.