Analysts’ Prediction For Bitcoin In 2018
What’s for Bitcoin in 2018?
Bitcoin has come through ups and downs and so does other cryptocurrencies. Just a few days ago, the most dominant digital currency has reached its all-time-high and investors are overwhelmed. However, as the saying goes, “Life is not always a bed of roses.” Bitcoin price plummets along with other cryptocurrencies.
Even with the trend, analysts are optimistic that this year, Bitcoin is going to be strong as a bull. There are 3 reasons how Bitcoin could get back to the road of recovery and why investors have to be enthusiastic.
Legal Initial Coin Offering ICO’s will render a major element in the success of Bitcoin. Although they already exist for quite some time now, not all of them have become lawful which made the investors drop their interest. But these new ICO’s are inclined to influence the Ethereum network, which will escalate the need for the virtual currency.
A maximum of $10 to $12 billion is going to be invested in the digital currency exchange market just this year. This is considerably a huge amount and leaves behind several other markets. Definitely, this estimation is assumed to be roughly twice the market capitalization of cryptocurrencies in 2017. It is due to the boost in institutional investment that bitcoin will again dominate the cryptomarket.
Regulation regarding the cryptocurrency market has become more stringent. Other countries declared widespread bans. With this regulation and ban, investors are more enticed to invest because they trust the cryptocurrencies.
It is certain that last year is the Year of Bitcoin as many investors capitalized on the cryptocurrency that accumulated a colossal market exchange. Startup sells its native cryptocurrency token to increment money which is called ICO.
According to Fortune, almost half of the cryptocurrency ICO in 2017 projects have dwindled. The complete funding of nose-dived proposals was $233 million from last year.
On the other note, South Korea is startup and has launched its domestic currency called Spyce. CEO Sean Kim is very optimistic that the digital currency of dnet and will be well-competent in the market with already 199, 168.75 tokens sold in ICO as of this writing.