Bitcoin: A blue-chip among the crypto-currencies: The majority of the market analysts are bullish on the Bitcoin and its value is expected to rise above $10,000 by the end of 2018. This anticipated surge is on the back of increase in Bitcoin acceptability among the users.
According to an investor, the value will reach to almost $25,000 by the end of this year. The report published by Fundstrat Global Advisors state that the value of Bitcoin will recovered by the month of June. After such recovery the Bitcoin will continue to be in green zone and eventually reach to a new highs.
In this way, the demand of the Bitcoin will increase in the second half of the year. Thus, providing impetus to the value of the Bitcoin. The current momentum in the price of Bitcoin shows that recovery has already started.
However, the inherent volatility in the price of Bitcoin has made the predictions in the short-run a bit of challenge. The challenges become more difficult when a negative news panics the investors. Such inexperienced investors follow the herding behavior to liquidate their investment in the cryptocurrency and thus, further increase the price volatility.
According to the analysts, Bitcoin and Ethereum are the blue-chip among the family of cryptocurrencies. This is often quoted as one of the reason why investors prefer to invest in both of these cryptocurrencies. As the awareness of cryptocurrencies increases among the investor community, the positive momentum in their prices will ensue.
Bitcoin- Background
Bitcoin was a brainchild of two developers namely Satoshi Nakamoto and Martti Malmi. From 2011 to 2013, the main purpose of the sites was to release the newer versions of the software known as Bitcoin Core.
Bitecoin is managed by all the users of the company. On one hand, developers are employed to continuously improve the software. While on the other, Bitcoin protocol defines the consensus according to which all users are agreed to operate.
