The surging value of cryptocurrencies has featured in many media reports over the summer of 2017. Specifically, the value of Bitcoin quintupled between January 2017 and September 2017, when it reached a valuation of just under USD 5,000 per Bitcoin. In this article, GreySpark Partners analysts William Benattar and Oliver White review the current state of affairs in 2017 related to the micro- and macro-level factors influencing the surging value of the marketplace for cryptocurrencies, and assess the medium to long-term prospects of the new class of blockchain-based projects and initiatives that have been financed through initial coin offerings.
