2017 was the year Bitcoin exploded into mainstream consciousness with an unprecedented bull run. The price started the year around $1,000 and surged dramatically, reaching a then all-time high of nearly $20,000 in December on some exchanges. 

This meteoric rise was fueled by a confluence of factors: increased media coverage, retail investor FOMO (fear of missing out), the launch of Bitcoin futures on major US exchanges (CME and CBOE) which signaled growing institutional acceptance, and a general speculative frenzy around cryptocurrencies. 

The year also saw a contentious fork that resulted in the creation of Bitcoin Cash (BCH) in August, stemming from the ongoing debate about how to scale the Bitcoin network. The Segregated Witness (SegWit) soft fork was also activated on the Bitcoin network, aiming to improve transaction capacity and enable Layer 2 scaling solutions like the Lightning Network.

Bitcoin Milestones in 2017

• August 1: Bitcoin Cash (BCH) hard fork occurred due to disagreements over scaling.
• August 24: Segregated Witness (SegWit) soft fork was activated on the Bitcoin network.
• November/December: Bitcoin’s price experienced a parabolic rally, reaching nearly $20,000.
• December: Cboe and CME Group launched Bitcoin futures trading, marking a significant step towards mainstream financial adoption.
• Throughout the year: Massive public and media attention on Bitcoin and cryptocurrencies; a boom in Initial Coin Offerings (ICOs).