Blockchain History: Altseason, Forks, And All-Time-Highs (2017)
2017 was so far the biggest year for bitcoin and blockchain. The total size of the cryptocurrency market exploded from $18 billion to a peak of $664 billion, a 35X increase.
Bitcoin price broke the previous mark of $1000 and went all the way up to a historical all-time high of $19,875 on the 17th of December.
For the first time, bitcoin market dominance fell below 75%. This event is commonly known as the First Altseason, with bitcoin’s status as the biggest cryptocurrency was seriously challenged by Ripple, Ethereum and others.
Bitcoin gained legitimacy among lawmakers as countries like Japan passed laws to accept bitcoin as a legal tender, or up until then, anti-crypto Russia announced that it will legalize the use of cryptocurrencies.
Public interest rose with bitcoin breaking the $1,000-mark, and trading exchanges saw their volume continuously increasing. Big exchanges like Poloniex announced an increase of %600 active…
