Milestones Bitcoin VERSUS Dow Jones Ind. Average
(Status: 30th Nov. 2017)
Here to wrap up, how many days it took the Dow Jones Industrial Average AND the Bitcoin (in the year 2017 alone) to reach another milestone (round numbers like 1k): The cryptocurrency was breaking through...
...psychological barriers - that is, big round numbers - with increasing frequency during the past 11 months! Bitcoin managed to take each new USD 1,000-hurdle in less than 100 days (as can be seen in the diagram above).
In part, this is simple math: The jump from USD USD 1,000 to USD 2,000 is much steeper, in percentage terms, than from USD 8,000 to USD 9,000. Still, as bitcoin surpasses each new symbolic level it generates more attention, potentially attracting more buyers who want to get in on the action.
Bitcoin passed USD 9,000 for the first time last weekend (26th November 2017), just a week after it crossed USD 8,000. It took a bit over two weeks to do the same thing between USD 7,000 and USD 8,000. And so on, and so forth.
After all, remember that it took more than three years for bitcoin to recover from a major crash at the end of 2013, shortly after it hit USD USD 1,000 for the first time. Another Reminder: Bitcoin has just reached 10,000 and even 11,000 in the recent days...BUT...eventually came down again.
We will see, where (?) this cryptocurrency will stand - not at the end of 2013 - but in the year 2020 (3 years later again)...