Bitcoin is the first digital currency in the world and over the past year has gained wide recognition. Many people have made so much gain from Bitcoin buying at a cheaper price and selling at a much higher price.
Bitcoin just like the Japanese Yen, the US Dollars and the British Pounds, is a peer-to-peer currency which could be sold, purchased and exchanged in return for goods and services. However, this currency is different from these stated above being that it is free from intermediaries and does not involve any bank.
Bitcoin (BTC) Price Today – BTC / USD
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Important points to note about Bitcoin
- Satoshi Nakamoto established Bitcoin in 2009
- Bitcoin has a very big mystery surrounding it: No one knows the true personality of Satoshi Nakamoto
- Just 21 million bitcoins can be created.
The History of Bitcoin
Bitcoin has never had a stable price. It rises today and goes down the next day. It has always been difficult to have a short-term prediction for it. Still, many investors are interested in this. Having prices that fluctuate regularly, investors can buy at a low price and sell at a much higher price.
There are other investors that enrich themselves with this. They have bought Bitcoin about 5 years ago when the price was very low (below $100) and then held it until last year when the price reached $10,000 – $20,000.
Prediction of Bitcoin Price
We all imagine where Bitcoin will be in some years from now. Everyone, though finds it difficult to predict, enjoys doing it.
Publication of more bad news will happen if more countries create new regulations for cryptocurrencies. This will definitely lead to Bitcoin crashing again. There are countries set to create new laws for cryptocurrencies. Some of them are: France, Japan, South Korea, China, and the United States. Even though these countries want to create new regulations, we should put these in mind:
- It might not happen anytime soon
- Bitcoin price might not be affected.
- Until this happens, the most popular Bitcoin projection is that it will keep increasing.
What is the prediction of Bitcoin Price for 2018?
Although, the world has felt the strength and usefulness of Bitcoin and its technology, no one can confidently tell if there will be a rise or fall in Bitcoin price.
I have a strong belief that the Bitcoin price will rise this year, simply because cryptocurrencies and the blockchain technology are the future. This is just my belief though and never can I tell if this ill truly happen. This is just a guess. You can never be so sure, although you can check the news as well as charts, to have an idea of what could happen.
Experts give their own Bitcoin predictions
Saxo Bank believes that this year, Bitcoin will rise very high, going above $60,000. They also said that after this increase, Bitcoin price will crash and in the process, lose more than 98% its value.
Spencer Bogart (Blockchain Capital Partner) said that the price of Bitcoin will rise above $50,000; He attributed this possible increase to the big investments made by investment banks and big companies.
Wawllet’s CEO and Founder, Mihail Lala predicted that by 2020, Bitcoin will reach over $100,000. This is still far lesser than John McAfee’s prediction of $1 million.
David Garrity (GVA Research’s CEO) however, gave a different opinion. He told Bloomberg that this year, Bitcoin will crash below $5,000. He then added that by the close of the year 2018, the price will rise again, reaching almost $20,000.
Conclusion
If done the right way, Bitcoin buying and selling will earn you great profits. It has brought so many people a lot of cash in the past and is still putting smiles on the faces of investors today. You must know that, a lot of money can be lost too.
Before investing, ensure you make a lot of research and if possible speak to a financial advisor. Don’t invest what you cannot afford to lose.
