Bitcoin Price Forecast
What about a Bitcoin Price Forecast? People first started to hear about Bitcoin about six years ago. At that time, it was still an unknown pseudo-economic unit that bankers predicted would die a swift death.
In 2011, a Bitcoin cost 50 cents and the first stock exchange that actively engaged in Bitcoin trading was btc-e.com. At that time, nobody could imagine how much growth would await this coin. However, growth is just one aspect of Bitcoin – it has also given us many other opportunities.
Hindsight is a Wonderful Thing, But What About the Future?
Investors are divided into two camps regarding the Bitcoin price forecast: some believe Bitcoin will end badly this year, while others believe it’s just beginning. Each side has its own convincing facts and counter-arguments.
Why Will Bitcoin Continue to Rise in Price?
Experts rely on long-term analyses. People don’t really care that every cryptocurrency can drop by 50% for a few weeks. Short-term crises are a fact of life. You could take a flight to London and it may be your last flight. No one can see into the future.
As seen in the news, there are 2-5 new ATMs around the world every week that accept Bitcoin and even other altcoins as payment. The appearance of such ATMs has increased the liquidity of the coins in the people who already know about Bitcoin and use the cryptocurrency. It also sparks the interest of people who are not yet involved but are actively curious about it.
The current capitalization of Bitcoin is many tens of billions of dollars and the trend is continuing as large investors buy huge amounts of the cryptocurrency, not sparing their own micro portfolios for this experiment. Every time an average investor buys Bitcoin, they spend $100,000 to $1 million. Furthermore, the increase in demand will lead to a price increase.
We have not yet considered speculation on the Bitcoin price forecast. Many simply earn a living by buying cheap and selling high. As the cryptocurrency itself is necessary for trading Bitcoins on some Bitcoin exchanges (not every stock exchange offers derivatives), the purchase of Bitcoins will push up the price.
The introduction of transactions in blockchain technology stimulates the purchase of coins by medium and large companies. The ability to accept billing in Bitcoins also generates increasing levels of interest among large market participants. The growing interest from medium-sized and large and small businesses in cryptocurrencies will inevitably impact price.
5. Death and Loss
If you are a big investor and own some Bitcoins, you may wonder what happens to your Bitcoins if you unexpectedly die. After all, who expects to die? We all know that we won’t live forever. Many coins are simply lost because people sometimes die.
6. A Slowdown in Bitcoin Mining
Initially, the reward for mining was 50 BTC, according to the algorithm. After 210000 found blocks, the block reward is reduced to 25 BTC. Halving continues to occur every 210000 blocks until all 21 million coins are mined. Any such reduction in block reward will contribute to a price increase.
7. The Dollar
In total, cryptocurrency sales around the world range from $135 trillion to $1200 trillion. The sales extend over all altcoins, not just Bitcoins. Assuming a Bitcoin market capitalization of about 30%, we get a Bitcoin total of $40.5 trillion, because we divide by 21 million and receive about $1,926,000 for a coin.
Also, let’s not forget the euro, yuan and other currencies, regarding the Bitcoin Price Forecast.
Good Prospects for the Bitcoin Price Forecast
Experts believe that the cryptocurrency will be widely used in 2018, especially after the recognition of this payment unit by major retailers. As retail giants begin to accept cryptocurrencies, their growth may continue. 2018 may be a turning point for Bitcoin and investors with a high tolerance for risk and volatility can make record profits.
Some founders of well-known blockchain companies are expecting a Bitcoin rate forecast again, instead of a plain Bitcoin Price Forecast. They predict that 2018 and the following years will bring global changes in the regulation of cryptocurrencies.
According to their view, the start of trading Bitcoin futures will support the development of higher prices. There is still a very big gap in terms of legal regulation. As more and more large players enter this market, serious investors expect a robust legal framework to emerge in different countries.
Investors want to be able to rely on the protection of their interests by this Bitcoin Price Forecast.