2018 could be the best year for the Bitcoin: Cryptocurrency prices are in the doldrums in 2018. This, however, does not mean that there is no scope for improvement. During the 1st 40 days of the year, most of the cryptocurrencies lost at least half of their value. After the recent dip, however, many investors have actually returned to the cryptocurrency market. This is the reason why analysts and experts are convinced that this year can be the best for Bitcoin in spite of the shaky start.
The lowest levels in Bitcoin this year were seen approximately 3 weeks back. Bitcoin at that point in time was trading around $ 5500. Ever since then, it has almost doubled in value to reach around $ 11,500. In the last 48 hours, however, it has fallen back to around $ 10,200. In spite of that, many of the experts think that this is actually not a bubble and it would raise even more.
Many of the experts are positive view on Bitcoin. Also, Segwit development is bringing in a lot of hope for investors as well as experts. With the improvement in code, Bitcoin will be able to process transactions faster. Moreover, the fees of Bitcoin transactions will be on the lower side. This is the reason why many investors believe that once this code has been implemented, Bitcoin will start rising again. Moreover, the lightning that of Bitcoin will surely help increase its value. With the help of the lightning it up, the transaction times would also come down. The problem is that there is no word yet on the launch of the lightning network.
Bitcoin is just a part of the cryptocurrency market. There are various other cryptocurrencies which are finding interest among investors. Many experts believe that while most of the countries and authorities concentrate on Bitcoin, the other cryptocurrencies will also flourish. This is the reason why investors are hoarding up Ripple as well as Ethereum in this downturn.
Many investors also believe that the entry of institutional investors will make a significant impact on cryptocurrency prices. Already, quite a few platforms are offering Bitcoin futures trading. While this might bring in more investors to the table but the volatility can also increase.
Moreover, the ICO industry is also expanding at a rapid pace. With ICOs like telegram raising about $ 700 million, it is a niche of the cryptocurrency market which can no longer be ignored.
Keeping all of these factors in mind, experts believe that this can well be the year of Bitcoin and it will be able to recover the losses. Moreover, many experts believe that it will be able to make new highs due to which it can be the best year for Bitcoin.
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