Reasons why crypto Market Could Hit $1 Trillion in 2018
Bitcoin is set to substitute Gold as the next safe haven for stakeholders. There has been a lot of Bitcoin exchange, since September 2017 when prices went up astronomically. This impact has increased the capitalization of other cryptocurrencies. Blockchain investments run like the stock exchange, except the, later has rules.
This is why the revolution that blockchain technology comes with is not felt by Bitcoin alone. Cryptocurrency's technology is unpredictable because of cybercrime, but it is rewarding. Since the recent wipeout of Bitcoin value in 2018, investors have argued about the technology behind it.
Reasons Why Bitcoin Could hit $50.000 in 2018
There will be several bubbles in 2018, but the surge of cryptocurrency market could hit $1 trillion this year. In mid-2018, Economists and Wall Street investors project the value of Bitcoin to hit $50,000. In the second week of February 2018, the currency took an upward increase of over 16% price within 20 hours. This digital currency's potential value is because of an unregulated exchange, which uplifts the cryptocurrency market through its medium. The marketplace needs to grow and whether its own storm. Digital currency market growth stabilizes and finds dynamism in prices.
But, if the market reacts down south it will stabilize at some point. As Bitcoin surged higher and higher last year, no one thought it would settle above the $7,000 in February 2018. Meanwhile, its value has fallen to a record-low of below $6,000 for the first time since mid-November.
With the wipeout of over $500 billion of cryptocurrency worth, investors’ confidence will not reach an alarming level soon. Bitcoin enthusiasts believe the market can cushion this hit. However, the winter market is still months away. Bitcoin sits top with a market cap of over $142 billion today, as the market is set to begin a bull run comparable with the same period in 2017.
There are some few reasons the market could hit $1 trillion in 2018.
- More of cryptocurrency exchanges will come on board to see a rebounding market in 2018. Enhanced technological frameworks and financial institutions will become active as they take their market share. This will give a rise to prices, as there will be new records in 2018.
- Approving Bitcoin ETF will see tremendous price gain and value. The Securities and Exchange Commission (SEC) has not approved setting up exchange-traded funds (ETFs). Big time investors can exchange right away, yet ETFs, which have low management fees can be exchanged during the trading day. This will lead to opportunities for more people with brokerage accounts to cash out. If there are cryptocurrency futures like exchange-traded funds, investors can exchange Bitcoin without a direct exchange buy.
- According to coinmarketcap.com today, there are over 16.8 million Bitcoins in circulation out of the 21 million markups.
With a mining average of 1,800 Bitcoins daily, the next value halving will be on June 6, 2020. The delay of Bitcoin mining will make the price shift northwards in the coming months. As more investors trade Bitcoin, digital scarcity will see an increase in price value.