2017 has been a phenomenal year for Bitcoin, Rising from around $1,000 at the start of the year to a new all time high of $7,000 just 11 months later, seeing total increases of more than 700%!!!
And the price seems to be having a snowball effect. In the week leading up to the new all time high of $7,000 the price increased by over 20% in just 7 days.
On top of this news it has been confirmed that Coinbase, one of the largest Bitcoin merchants in the world, has gained more than 100,000 users in a 24 hour period. This is likely in light of the recent news that hit global media regarding CME adding Bitcoin ‘futures markets’ to their list of instruments.
Back In May, Coinbase reported that they had 7.4 million users. This figure had increased by almost 60% on 1st November and was at 11.8 million… fast forward just 24 hours and Coinbase now has 11.9 million users on 2nd November at the time of writing this.
There is speculation that this incredible spike in the Bitcoin price may be anticipation of the potential Bitcoin 2X fork due to occur. Users may be stocking up in the hope of free coins if a split does occur. However, it could also be due to the fact that Bitcoin is receiving global media attention for all the right reasons.
Coinbase was first developed in 2012 and is gaining more and more momentum, very much like the Bitcoin price. And we can’t see either number slowing down. Coinbase seems to be where a lot of the new users go to get started and purchase their first Bitcoins/Ether/Litecoin. The website is very user friendly and offers competitive prices, it also has a very handy app available on IOS and Android.
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