The year 2017 was undoubtedly the year of Bitcoin. The number of people, who earned a fortune wasn’t that high. Meanwhile, others have been doing everything possible to get a hold of just one of these promising pieces of cryptocurrency. What will happen to Bitcoin in 2018? Will it grow, burst or disappear? You still can invest in BitCoin in 2018. Should you?
A Perfect Year
How many cryptocurrencies does an average person know? Most likely, all they’ve heard about is Bitcoin. This currency has proven itself resilient, promising, and powerful enough to conquer the world in 2017. On December 17, the currency reached its record rate of $19,796 per coin. Then it slowly started falling and at the time of writing, the price is $15,105 per coin. Which is still much higher than $0.39 cents it cost in 2010 or $330 in 2015. In the beginning of December 2017, the Bitcoin’s worth was about $9,650.
Plans for 2018
Even though Bitcoin is breaking all records and setting new ones every year, there isn’t much clarity about its behavior in the future. At the same time, the leaders of the largest financial organizations in the world are not giving bitcoin too much credit. The only developed economy where Bitcoin is fully legalized in Japan.
Opinion #1: A few months ago, the president of JPMorgan Chase bank Jamie Dimon called the craze around bitcoin “stupid”. He believed that it would lead to pitiful circumstances. Dimon explained that Bitcoin is similar to pyramid schemes. And it may fall in the nearest future. The CEO of one of the largest US banks forecasted that the investors, who are spending fortunes buying Bitcoin, are about to face a downfall similar to the one, which happened in the 17th century Netherlands when the tulip mania came to an end.
Opinion # 2: A respected investor and analyst Tai Lopez suggested that if all the world millionaires would invest only 1% of their assets in Bitcoin, the cryptocurrency price could reach $60,000. According to Forbes, there are about 15M dollar millionaires in the world. More than 5 million live in the USA and Canada.
Opinion #3: Investor Mike Novogratz, head of Galaxy Investment Partners, recently said that Bitcoin would easily beat the $40,000 mark by the end of 2018. Co-founder and CEO of Coinbase Brian Armstrong explained that over $10 billion in institutional money are awaiting investing in Bitcoin. Bitcoin daily trading volume on the global cryptocurrency markets is $16 billion.
In order for the Bitcoin price to reach $60,000, big and small investors should invest in Bitcoin several hundred billion dollars within a few months. At the moment it doesn’t seem real. However, 2017 has already shown that there isn’t anything impossible for Bitcoin.
To Invest Or Not To Invest
Everyone, who spends a little time following Bitcoin matters, knows that the maximum number of Bitcoins to mine is 21 million. What will happen when all 21 million are mined? The experts’ opinions vary. No one can tell when the bubble will burst and if the bubble really exists. For an average person, Bitcoin price fluctuations are huge. Meanwhile, for investors, the December costs seem to vary slightly.
In the beginning of 2017, Bitcoin was 16 times cheaper than it is right now. Perhaps by the end of 2018, if some of the experts are right, it will be 5 times more expensive. Or it may deflate. In any case, such huge fluctuations as we’ve seen in December 2017 are unlikely. But it’s still possible to earn substantial amounts of money on Bitcoin…or lose it. However most experts agree that Bitcoin values will continue to rise: ‘The coming year may well become the last chance for most people to invest in Bitcoin as in a year it won’t be affordable for most people’ says experts from leading Blockchain & ICO Consulting company IBC Group. Therefore if you do not want to have any regrets in a year, like so many regret not buying couple of Bitcoins a few of years back – do not wait for another year.