Bitcoin is the most famous cryptocurrency in the world. This is also the first cryptocurrency that became available on the market for ordinary users. Today, Bitcoin is a popular topic discussed not only by investors and tech-savvy guys, but by almost every adult person. 2017 was the crucial year for the rise of popularity and interest in Bitcoin. But, what do the experts predict about Bitcoin price in 2018?
Of course, we are already in 2018 and Bitcoin price had some ups and downs. Those who have experience in this field know that the price of Bitcoin has never been stable which is one of the reasons why people are interested in this digital currency. Generally speaking, the price of Bitcoin is going up with smaller shakes on this road.
As you probably know, Bitcoin price was increased multiplied times in the last year. In December, 2017, the price of Bitcoin has reached $20.000. At this moment the price is around $10.000. What we are trying to say is that it can be quite difficult to predict the value of Bitcoin even in the near future. Yet, there are some factors that have proven to be important for the price of this digital currency.
For starters, we must take the rate of adoption into account. This is quite logical because the more individuals and organizations use this currency, the more valuable it will become. We have witnessed the adoption of Bitcoin by many retail stores, online shops and even by some organizations too. There are specially designed Bitcoin casinos too. Bitcoin has become so popular that you can find special Bitcoin ATMs in some countries like Canada for example.
Another thing that affects Bitcoin price is the presence and emergence of other cryptocurrencies or alt-coins as some people call them. The more of them are revealed the lower the price of Bitcoin. Of course, this can affect the price negatively only for a short period of time before the new cryptocurrency stabilizes and the market sees how much this currency is really worth.
There is no doubt that the technology has an effect on the price of Bitcoin. As you are probably aware, Bitcoin relies on Blockchain technology. According to many experts, the newest cryptocurrencies are based on more advanced technology which may be problematic for Bitcoin in the future. So far, this superiority is not very visible and blockchain technology is still considered good.
We will continue the list of things that have an impact on Bitcoin price with the futures. Namely, the use of futures or the development of a futures market for Bitcoin trading will definitely have a positive impact on this digital currency. Finally, it is the level of regulation that can boost or limit Bitcoin in the future. Generally speaking, most countries are allowing Bitcoin trade. However, the banks and other financial organizations are taking measures to discourage Bitcoin trading.
So, the question is – will Bitcoin reach $100.000 mark this year? There is no simple answer to this complex question. What is known for sure is that the market capitalization must reach one trillion US dollars for Bitcoin to reach $60.000. At this moment, the cap is around 170 billion dollars. This market cap is changing all the time which means that it’s difficult to predict what will happen this year. The good news is that the number of online transactions involving Bitcoins is growing every day. As we said before, this can be a clear indicator of the imminent rise of Bitcoin in the near future.