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/biz/ - Business & Finance

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3280191 No.3280191 [Reply] [Original]

What happened to the Cryptocurrency market that caused 2017 to see a seemingly endless climb?

The market was in a very small climb from 3B to 14B market cap over 4 years after 2013's crash which hardly registers as a blip now from 12B to 3B over 1.5 years.

So something happened that made Crypto explode right?
We saw 100% gains in market cap from Jan 20 to April 22nd
Then we see another 100% by may 19th from 30B to 60B
Then we hit a snag at June 14th around 110B
Then a dip back to 66B on July 15th
Then we skyrocket from July 15th to 168B only 45 days later, almost 300% of its previous value.

All together, we've seen the market cap increase from 17B to almost 170B in 9 months..., 1000% of its original value... If you look at 1 year (last september we were at 11B) then that's 1500%+ of its year value.

So what happened?

>> No.3280202
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3280202

>>3280191
it was 4chan

>> No.3280206
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3280206

it was 4chan

>> No.3280224

>>3280191
meme magic

>> No.3280227

Ponzi scheme. I've cashed out. Could have made another $12,000 if I'd held this month but I'm not risking being in it when it all ends shortly. Top keks will be told to our grandchildren one day about the great year of crypto ponzis

>> No.3280232

>>3280227
lol, don't kys when that 12k becomes 120k.

>> No.3280857

>>3280191
Oil reserves are running low. Fracking is unsustainable.

>> No.3280874

>>3280227
Lol, ok. Go stockpile gold and canned corn with the rest of the lunatics.

>> No.3280900
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3280900

>>3280227
>cashing out 100%

>> No.3281562
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3281562

>>3280191
it was 4chan

>> No.3281580

Ethereum happened, and that opened the floodgates. Blockchain now has more uses than just Bitcoin. Why are you asking retarded questions?

>> No.3281600

>>3280191
Bull rush due to network stability increases, industry acceptance and R&D (EEA), media frenzy due to underperforming & correction-due stock market, severe FOMO by Americans, Options & Futures trading coming to America, world economic instability (Venezuela inflation, etc.)

BTC -> 10k by mid-2018

>> No.3281616

>>3280227
>Yeah fuck it, Bitcoin is done, it's never going up again after that crash - cucks like you 2015

>> No.3281663

>>3280202
>>3280206
>>3281562
Nah, it was ebaumsworlds fault…

>> No.3281916

>>3280227

This. The market is supported by dumb normies now. Once something spooks them like another exchange failure they will all run at once.