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Introduction
Investors have found new love in cryptocurrencies and the prices are gradually skyrocketing. The rate at which digital currencies are being adopted, Bitcoin being one of them, creates a buzz on the stability of this market. Could cryptocurrency be the future of monetary systems? One trader placed a $1 million bet that Bitcoin will increase (triple) their sales in 2018.
Bitcoin's Performance
In December 2017, Bitcoin hit the $20, 000 dollar mark and has since been on the downward trend. By now, Bitcoin is trading at between $6, 000 and $8, 200. Although this is not a good sign, experts have predicted that Bitcoin will surpass the $50,000 mark. The cryptocurrency market is set to hit $1 trillion and Bitcoin, being among the trendsetters in the market, is expected to grow. The big question remains how? To best answer this question, we begin by analyzing the market.
The regulatory recognition of the cryptocurrency market has continued to expand as institutional capital developments enter the market. This entrance will push the prices of cryptocurrency up. This is enough reason to push Bitcoin above the $50, 000 mark. Utility tokens such as Ethereum and IOTA have already been embraced by developers who use blockchains, which has increased the cryptocurrency value. The increasing demand for the cryptocurrency market globally is sufficient reason for Bitcoin's Bull Run in 2018.
Bitcoin developers have partnered with Atomic Swaps, SegWit and Lightning Network, which have been adopted by most cryptocurrency platforms. This partnership will help Bitcoin to operate efficiently limiting delays and reduce transaction charges.
Conclusion
If you compare Bitcoin statistics in 2016 to 2017, you will notice that the cryptocurrency moved up by over 1700%. It is impossible to affirm that Bitcoin will cross the 50, 000 dollar mark. However, if history is anything we can go with, then we can safely predict that Bitcoin will cross this mark by December 2018.
After current bitcoin dip we will see new all time highs again.
I believe the current bitcoin dip is a huge opportunity for so many people to buy bitcoin now.
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Not only will it not reach 50,000.. it will trade higher than that. The innovation is phenomenal. It has eliminated counterparty risk i.e. no need for a bank to store money. The problem is, at present to be the custodian of my wealth, i need to convert fiat to crypto because currently adoption of bitcoin is low and hence my income is in fiat. Additionally, since adoption is low, traders can make the currency volatile.
There are lots of events happening to bring in institutions into this space, that means more adoption. Once bitcoin is confirmed as an asset class, it will also find more adoption for what it was created - storing and transferring value over the internet. It will definitely trade above previous years high this year. and a rally like last year can take it to 50k as well.
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I share these sentiments too, friend, Bitcoin has the potential to even go beyond $50,000 before the fall of 2018. Let's keep the hope alive.
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It surely would but centralized powers are hindering it's growth. They are trying to mask the crypto power. Once people come to know it's real potential, it would touch continuous ATH's.
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Sneaky Ninja Attack! You have just been defended with a 11.38% upvote!
I was summoned by @macbaren. I have done their bidding and now I will vanish...
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Great article, even with the current DIP, Bitcoin is a revolution and will increase no matter which circumstances on his path!
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Short answer is yes it will....but AFTER the puke. I have been pounding the table on lower for weeks. While everyone is calling for big bounces, bottoms, and breakouts, I have said nothing more than we WILL test the Feb lows and needed to see some panic....and Here...We...Go...
https://steemit.com/crypto/@heyimsnuffles/breaking-here-we-go-boys-and-girls-one-of-the-only-people-calling-for-this-20180523t160514892z-post
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Fingers crossed. Great post.
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You got a 27.27% upvote from @nado.bot courtesy of @macbaren!
Send at least 0.1 SBD to participate in bid and get upvote of 0%-100% with full voting power.
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