OK, so we all know that Bitcoin is pretty good at keeping itself in the news, and why would anything else be the case when you look at the crazy fluctuations in its price over recent times.
However, December 2017 has seen this madness reach new heights, which does make you wonder as to what could be possible throughout 2018 for Bitcoin.
Of course, nobody has a crystal ball, but we can perhaps look at what has happened in recent times to create a relatively accurate projection. Clearly, there can be crashes within the market at any point, so don't take this as being set in stone because that part is truly impossible.
According to Julian Hosp, the future does appear to be bright for not only Bitcoin but other digital currencies throughout the course of 2018. The only problem is that there is always a flip side, and investing at an inopportune moment due to a lack of understanding of the market may result in massive losses.
Hosp believes that Bitcoin is going to both reach new heights as well as crash quite considerably, and it is just a matter of waiting to discover which one occurs first. He would not be surprised to see that Bitcoin hits around the $60k mark, but there is also a firm belief that it could drop back down to around $5k.
The problem is that, currently, the price is seen as being dangerously elevated, so the crash that was observed just prior to Christmas actually allowed some individuals to increase their holdings of Bitcoin due to it dropping by almost 50% in value. This has resulted in the price being pushed back up in a short period of time, but it has still not reached the heights pre-Christmas and it may not do so for some time yet.
Perhaps one major issue is that there are clear parallels between what is happening with the likes of Bitcoin at this moment in time and the dotcom bubble from 20 years ago. If you were around at that time, then you will only be too familiar with the way in which websites had astronomical prices only for the bubble to then burst with a substantial percentage of the market value vanishing effectively overnight.
Hosp sees the same thing happening with cryptocurrencies, but not throughout 2018, and certainly not with Bitcoin at this point. The only problem is that when this crypto winter strikes, it will hit home hard, and the runaway value of Bitcoin throughout 2018 may very well lead to winter coming slightly earlier than anticipated due to the inability of altcoins to keep pace.
So, for 2018 you should expect Bitcoin to primarily continue on an upwards trajectory, but there will be at least one major crash that will see a significant percentage of the market value being wiped off in a short period of time. Carefully studying the market and seeking to perfect your timing when it comes to trading will be the only way in which you may be able to make a substantial profit before getting out prior to having your fingers well and truly burnt.
great article my friend. but according to me investing in altcoins is a good idea than investing in bitcoin.
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