Will Bitcoin Boom or Bust in 2018 - A Realistic Bitcoin Price Prediction
Investment research firm Fundstrat recently predicted that the Bitcoin price will reach $36,000 by the end of 2019
- Vanguard economist Joe Davis andothers, however, believe that instead of reaching new all-time highs, Bitcoin will crash to zero in 2018
- Conflicting Bitcoin price analysis and opinions are leading to widespread volatility in the markets. The only question is, what’s the real story?
Is cryptocurrency about to crash?
At present, the Bitcoin price is as volatile and as ever. Having plunged temporarily below $7,000, many top economists like Vanguard’s Joe Davis, are, therefore, predicting that Bitcoin will crash to zero at some point. The good news, though, is that there are more than a few reasons why a Bitcoin boom might be on the horizon.
Should You Buy Bitcoin Now While Prices are Low?
If you believe in the classic ‘HODL’ cryptocurrency investment strategy, you won’t need convincing that selling Bitcoin now would be a bad idea.
Sadly, widespread fear uncertainty and doubt (FUD), is once again driving down cryptocurrency prices across the board. This being the case, we’ve put together a list of 5 key reasons why a Bitcoin boom rather than Bitcoin bust will likely arrive later in 2018.
Bitcoin Boom Reason No.1 - It is Easier than Ever to Pay with Bitcoin
Have you heard that Bitcoin is far too complicated and expensive to transact with? If so, nothing could be further from the truth.
Thanks to recent upgrades to the blockchain technology which underpins Bitcoin, the digital currency is now cheaper to transact with than it was in 2011. Even better, expanding integration with new merchant services and lightning fast side chains, means that it will soon be easier and cheaper to pay with Bitcoin than at any point previously.
Bitcoin Boom Reason No.2 - Blockchain Technology is Here to Stay
If you still think that Bitcoin and cryptocurrency is nothing more than a passing craze, you couldn’t be more wrong.
At present, blockchain technology is being developed by the likes of IBM, for application in a variety of commercial and industrial applications. In fact, investment in ICOs and blockchain technology startups in 2018, has already exceeded the total amount of investment raised in 2017.
Bitcoin Boom Reason No.3 - New Institutional Investors are Entering the Market
In late 2017, the launch of Bitcoin futures trading on Wall Street, sent the Bitcoin price soaring to $20,000. Of course, prices have sharply corrected since then. However, according to Forbes Magazine, over 52 institutional investors (including George Soros) are planning to enter the cryptocurrency market later this year.
Bitcoin Boom Reason No.4 - Bitcoin in Asia & South America is Still Booming
The Bitcoin price on Western exchanges might be languishing at $7,000. The good news for investors, though, is that in Asia and South America, interest in cryptocurrency is booming.
According to NewsBTC.com, interest in Bitcoin in Brazil is seeing more new investors enter the market than ever previously. Meanwhile, despite recent regulatory alarm, both China and South Korea are still witnessing exponential investor interest in cryptocurrency and new blockchain technology applications.
Bitcoin Boom Reason No.5 - Bitcoin is Still Up over 500% on 2017 Prices
Looking for one last reason not to lose faith in Bitcoin just yet?
What many people seem to forget, is that Bitcoin and the cryptocurrency market overall is still up over 500% on all-time price highs first reached in mid-2017. Because of this, long-term Bitcoin price prediction forecasts are just as healthy as they ever have been. - All investors need to do in this case, is not lose sight of the big picture.
- Bitcoin Grotto