It has been the second week of 2018, now is the good time to speculate the future for Bitcoin this year. What does 2018 hold for the digital currencies?
What is the Future of Bitcoin in 2018? Is It a Blooming Year for Cryptocurrencies?
Before Christmas 2017, Bitcoin reached a peak of $20,000. However, after that, it has decreased signìicantly. The original digital currency loses their growth and dominance in the market because of the rise of other currency such as Ripple, Stellar and Tron. According to Erik Voorhees, CEO of digital asset exchange ShapeShift, he says that although there was a decline in the Bitcoin’s dominance and transaction, Bitcoin is taking benefits from the development of Altcoins.
Besides that, more institutions might accept Bitcoin because of its popularity. Furthermore, this currency might be legitimated. According to the analysis Canaccord’s Graham:” One of the things we’ll see is enforcement here from the regulators”. Some analysists believe that the regulations for cryptocurrency might cause some issues in the development of Bitcoin as it is traded freely at the moment.
In addition, we definitely face some volatility of Bitcoin in 2018 since this is the market nature. Furthermore, as Bitcoin has a quiet start in 2018, some investors are looking for an alternative investment such as Ethereum or Ripple. Saying technology correspondent Arjun Kharpal:“Investors appear to be taking a breather from bitcoin for now and looking at alternative cryptocurrencies.”
Future for Bitcoin 2018 is Blooming or Crashing
The times will confirm whether all of the predictions are accurate or not. 2017 is a big year for the development of Bitcoin, and we expect their market might go bigger soon. What lies ahead of Bitcoin? What do you think about the future of Bitcoin? Drop us a comment to let us know!