The forecasts pertaining to Bitcoin prices seem uncertain and challenging, more so because of the unexpected fluctuations in the value of cryptocurrencies in 2017. Bitcoin’s grand evolution has been nothing short of extraordinary last year, owing to its lofty rise in valuation in the crypto market. After Bitcoin, it is Ethereum which has inadvertently taken the second position in the list of top 5 cryptocurrencies in the world. So, how will Bitcoin and Ethereum fair in 2018 considering their steady growth in 2017? What do our experts have to say in this regard?
Some crypto experts have already predicted that Bitcoin will continue to grow in the next few years. Crypto enthusiasts believe that the virtual payment system will reach newer horizons owing to its finite structure. The Bitcoin market cap stands fixed at 21 billion and this figure is fast approaching. This is evident from the fact that more than 16 million have already been exhausted by miners, traders and investors.
Mike Dumont, the senior editor at Bitcoin.com, predicted that the value of Bitcoin will increase fourfold (with reference to its current value) and reach $60,000 by the end of 2018. There are several opinions and counter opinions regarding the evolution of Bitcoin. While the advocates of Bitcoin Blockchain firmly believe in its steady growth, there are many others who predict the fall of Bitcoin from its reigning position owing to its several loopholes which also include manipulation of figures and statistics because of Bitcoin’s open structure.
Apart from Bitcoin, another major player in the market is Ethereum. It has already created quite a name for itself in the market as a possible alternative to Bitcoin.
2017 was a big year for both Bitcoin and Ethereum and multiple conjectures seem to hit the roof regarding these two cryptocurrencies. Ronald Chernesky, the CEO of InvestFeed considers Ethereum to be a good catch in 2018.
Overall, exciting times are ahead in the cryptocurrency niche, with followers and critics both believing that intense action is due this year.