For those who are regretting not investing in Bitcoin during 2017, there is some good news for you. Analysts have predicted Bitcoin to reach somewhere between $50,000 and $100,000 this fiscal year. Other cryptocurrencies are on similar growth trajectories, and will likely outperform the market and expectations this year, as well.
Bitcoin Will Remain The Market Leader
Right before Christmas of 2017, Bitcoin peaked in value at $20,000 per Bitcoin. It seemed as if Bitcoin had become unstoppable in its dominance and growth, but Altcoin’s capture of market share in the fourth quarter resulted in a drop for Bitcoin’s growth. Not only that, other cryptocurrencies like Tron, Stellar and Ripple caused Bitcoin’s ascendency to fall below 33%.
However, Bitcoin was not on the decline for long. It is believed that Bitcoin will make its comeback and take its market leadership back in 2018. Analysts believe that Bitcoin has already benefitted from its strong position and network, and will continue to edge out other cryptocurrency competitors.
Institutions now accept Bitcoin
The trend of Bitcoin being overlooked, laughed at, snubbed, then finally garnering attention and respect has caused institutions and people to accept and believe in Bitcoin. This cryptocurrency has brought a revolution and gained more and more exposure during its lifespan. It is expected that its creep into the public domain in 2018 will show no signs of it slowing down. Seeing its success, institutions and investors have become very interested in investing in Bitcoin. It is expected that interest in learning about Bitcoin and its applications will only increase in 2018.
Regulators Are Ready To Jump In And Disrupt
Regulators see 2018 as their chance to catch up and make up ground with the rise and success of cryptocurrencies. It is expected that regulatory agencies will start exercising enforcements in the form of lawsuits to slow down growth and fines to capitalize on the money-making potential of the industry. It’s possible that Bitcoin might experience a major price dislocation.
Volatility Will Still Remain Its Crux
Bitcoin will remain synonymous with unpredictability, no matter how high its market value reaches. Its unstable nature makes it erratic and causes even savvy investors to be wary. The market of cryptocurrencies plays a vital part in terms of predictions. Because cryptocurrencies, including Bitcoin, lack any inherent value or backing, it is pure speculation, which makes it a very risky investment.
What makes Bitcoin unique and matchless is its system. The payout rate is what has proved to be its formula for success. The birth of Bitcoin has proved to be extremely rewarding for the “miners”. If Bitcoin is to experience any real decline in growth or market share, it’s unlikely it will be in 2018.
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