Bitcoin and other cryptocurrencies have been losing value since the beginning of 2018. All attempts to reclaim former glory have failed despite the optimistic predictions of bullish investors. Different crypto critics and enthusiasts have made their predictions for the industry and below are the top five predictions about cryptocurrency this year:
1. BTC Will Temporarily Lose Its Position
This is the most shocking of all five cryptocurrency predictions and the most unlikely. However, some known individuals in the cryptoverse have predicted that the leading cryptocurrency in the world, Bitcoin will lose its position to another coin briefly and regain it.
2. The Total Cryptocurrency Market Capitalization Will Reduce by the End of the Year
While many cryptocurrency enthusiasts are hoping that the end of 2018 will be similar to the end of 2017 which was marked by a hike in market cap, some believe that the reverse will be the case. Rather than increase, the value of the market will reduce.
3. Regulations, Regulations, Regulations
Before the end of the year, the United States will finally take a stand regarding cryptocurrency regulations. The SEC, CFTC, and other regulatory bodies will come to a consensus regarding cryptocurrencies and initial coin offerings. The regulations will increase transparency in the cryptocurrency industry.
4. The Price of Bitcoin Will Split By Half
Many financial experts have predicted that the leader of all coins, Bitcoin, will lose half of its already low value. This is possible as Bitcoin has shown high volatility over the past few months. It may continue to drop until it loses half its value again.
5. There Will be a Bitcoin ETF in the Market
Some believe that before the end of the year, an electronic traded fund based on the Bitcoin technology will be introduced to the market. The rumor about this began after the CBoE offered Bitcoin futures.
How many of these predictions will come true this year? One, two, all? Well, the only logical thing to do is wait and see. The industry is speculative. Anything can happen at anytime.