For 2018 experts predict the growth of Bitcoin’s price. The cryptocurrency’s rate will increase primarily because of various market factors. In skeptics’ opinion the cryptocurrency market may collapse when it reaches its peak because of the Russian regulators’ actions. But now its price is about $13,560.
In 2017 Bitcoin has become stronger than the year before. Analysts believe that the growth of the digital currency is due to demand factors and a decrease in confidence in assets. If it continues to be stable and strong, it can become an international currency, and replace fiat money. It’s protected from falsification and inflation. Bitcoin futures will also play certain role in the cryptocurrency’s strengthening.
According to experts' forecasts, in 2018 Bitcoin’s price will continue to grow. Some of them believe that the rate will reach $40,000, others - $100,000. Pessimistic analysts predict its collapse, a drop in the market capitalization dozens of times. Representatives of Saxo Bank are sure: the digital currency will depreciate in the New Year. Negative factor for it is the Chinese policy. Analytics of the Saxo Bank believe that the Bitcoin’s rate will decrease even lower than it was in January 2017 - $1,000.
It’s impossible to make an accurate forecast for Bitcoin. Many factors can prevent its growth:
- illegality;
- speculation: speculators sell Bitcoin on various exchanges, there is a surplus of offers on the market;
- mining: the lone-miners of the cryptocurrency won’t be able to engage in mining in the near future, because mining requires very expensive equipment.
However, the growth of Bitcoin can occur on the basis of such factors:
- legalization: in China and Switzerland there are machines to exchange the cryptocurrency for fiat money;
- demand, public interest.
Most likely, in 2018 Bitcoin will continue to strengthen, and even if its rate decreases, it won’t last long. The most optimistic forecasts are: $27,000-70,000. Perhaps in 2019 the price of digital currency will reach even higher levels.
Experts believe that Bitcoin is still worth to invest in. It’s reliable, protected from falsification, hacker attacks. The only serious risk is the appearance of a different, better cryptocurrency, like, for example, Ethereum.
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Decent article on the overview of cryptocurrencies and their potential future use, including the views of the skeptics, banks and optimists.
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