In 2017, a large number of people realized that BTC is not the only cryptocurrency, and perhaps not even the most promising. Altcoins can pose a real competition to BTC. Bloggers, news channels, and media fueled the hype around cryptocurrencies, but that was just the beginning.

At the beginning of 2017, a law was passed legalizing cryptocurrency payments in Japan, which became a starting point for the surge in asset prices.

In August, one of the most famous Bitcoin forks – Bitcoin Cash – was launched. These events allowed for an impressive period of growth to begin. In December 2017, the price of Bitcoin reached its historical maximum, exceeding $19,000 per unit.

Also in December, trading in Bitcoin futures started on the Chicago Mercantile Exchange. This set the backdrop for BTC to reach a momentary mark of $20,000.