Cryptocurrency in a nutshell
Bitcoin was launched back in 2009, and it has come a long way since then. It was almost worth zero dollars initially, and barely anyone knew about it. The worlds first cryptocurrency gradually gained value and fame. In the beginning, Bitcoin and nearly all other cryptocurrencies were mostly used for illegal activities.
It was the standard currency for the dark web. Clearly, because cryptocurrency transactions are not only super private but also almost impossible to trace. It was like the Tor (web browser known for offering excellent privacy) of currencies. Not many people saw cryptocurrencies from the investment point of view. Not until early 2017 when Bitcoin started being valued at four figures.
Although Bitcoin had been valued at over a grand in 2013 too, however, it wasn’t constant. Unlike 2017 where after hitting the $1,000 milestone it kept being valued at a thousand or even more. The people who invested when it was for $1,000 during April of 2017 already more than doubled their investment by the end of May 2017.
That means if you invested $10,000 then the same amount of Bitcoin was worth over $22,000 in less than a month. The return on investment is what attracted tons and tons of investors and businesses to the world of cryptocurrency. Realistically, there is no way to double your money in under 30 days, and so Bitcoin started getting all the attention.
Bitcoin (BTC) Price Today – BTC / USD
When will crypto skyrocket in 2018?
I have been in the cryptocurrency world for over four years now, and I have realized three very important things. The first that it is not only one of the most volatile investments you ever make but also the riskiest investment. The other thing that I learned is that nothing can really be assured. In other words, there is no “perfect prediction” in the world of cryptocurrencies.
The last thing I learned was that it all depends on Bitcoin so if Bitcoin’s price skyrocket then so does the price of a majority of other Altcoins and vice versa.
It is important to keep those three fundamental things in mind when investing in any cryptocurrency based on a prediction regardless of whether an expert has predicted it or someone relatively new in the industry has made the prediction. Crypto will likely rally during mid-December of 2018.
If we take a look at the history of Bitcoin we see that the worlds most expensive cryptocurrency have experienced roughly four significant corrections since inception. Moreover, each of these corrections resulted in Bitcoin being devalued by over eighty percent. However, in the case of the 2018’s correction, the drop till now has reached almost 70%. While the trading volumes soared substantially during the devaluation periods, they were still present due to the trading activity from such robots as the Bitcoin revolution. According to the InsideBitcoin’s guide, this robot is an automated piece of software that can work with nearly any exchange or brokerage.
This means that we can expect the price to drop further before the price starts to rise sharply. A majority of reliable crypto experts including McAfee have predicted that the cryptocurrency madness will begin from mid-December and the price might peak during the January of 2019.
Although there are no specific numbers, some experts predict that Bitcoin might rise to up to $20,000 or even more, while others predict that Bitcoin’s price won’t be crossing the $10,00 mark. Investing according to speculations is a nice thing, but it is always important to do your own research and only invest money you can afford to lose.