If an assessment for the year 2017 is made, it would not be wrong to say that Bitcoin has proven itself to be the most resilient cryptocurrency around, overcoming a number of hurdles, including hard forks, in 2017.
What is the future of Bitcoin, which is described as “bubble”?
For Bitcoin, 2017 was both a challenging and a successful year. Explanations made by experts on the crypto money claim that within the next one year this money could be worth three times as much as the highest value yet. Bitcoin.com ‘s senior editor, Mike Dumont, said in a statement to Futurism that “Bitcoin can reach $ 60,000 by December 2018”. Another expert, Muhammad Taye, made a similar statement saying that Bitcoin could reach 50,000 dollars or even more by the end of next year.
However, the potential for a rise in Bitcoin may be even greater. Some experts, who foresee earlier on the cryptocurrency, were wrong. For example, one of the investors said that Bitcoin will reach $ 10,000 by April 2018 and $ 6,000 by the end of this year.
On the other hand, Jeremy Epstein, the CEO of Blockchain’s new marketing company Never Stop Marketing, believes Bitcoin can go up to $ 18,000 before 2017. Epstein added that Bitcoin will not be surprised if it reaches 250,000 or more in the next 5 years.
Bitcoin is A Bubble?
The incredible growth in Bitcoin and its inability to know exactly why it is causing the bubble to come up by critics. Critics often state that Bitcoin can explode with potentially extreme consequences. “Is it a bubble? … yes,” said Armando Araújo, the head of finance, planning, and control at French corporate and investment bank NATIXIS, in an interview with Futurism. “The demand for it will keep it moving up, yes. For how long? I would love to know.” However, writer Dumont gave three reasons for not seeing Bitcoin as a bubble:
1) While Bitcoin has 21 million sources, most official currencies are inflation. Belief in the bankers and governments is lost.
2) Media fraud and investor interest are attracting people to buy. If you live in Venezuela (650 percent inflation) or Zimbabwe, you have no choice but to protect your savings against extreme high inflation. Cryptorals are an easy way to do this.
3) Institutional investors are investing large amounts of capital. The market value of Bitcoin is very small compared to the $ 200 trillion dollars invested globally in stocks, treasuries, real estate, gold and other commodities.
Regardless of the situation, these experts agree that the price of Bitcoin will continue to rise at least in the coming year. At the same time, the cryptocurrencies seem to expect a solid future. Dumont made a statement on the issue but said that digital currency of the digital world can be. what do you think about it?