Every cryptocurrency is trying it’s best to be on the front after a major setback. Bitcoin is the one who is getting badly affected by the current situation of the market. Ripple and Ethereum are showing progress but bitcoin is still sinking and it made everyone question is it going to boom soon? Should they sell all their coins in a market and invest that amount somewhere else? Well, the answer is “NO” because there are some reasons why bitcoin will reach $20,000 in 2018.
Japan is coming towards the digital currency and the major proof of that is Japan has stopped trading of all currencies except bitcoin. Bitcoin is the only payment method which is allowed to use all over the nation and more than 260,000 stores in Japan are using bitcoin to sell their products. It is influential that country like Japan is using bitcoin which means consumption of bitcoin is going to increase, slow and steady bitcoin will be back to its position.
EASY TO REACH
In this time of technology, everyone has a phone in their hands. It’s easy to reach your phone as compared to your cash. Digital currency is all about how you are using your devices. Bitcoin, Ripple, Ethereum and many other currencies are in your digital wallet which you can use just by one tap. It’s easy for the kids now to reach it and to have some amount in their wallets. Demand is still on the market when it comes to bitcoin.
If we talk about bank transactions then we have to involve a third party and lots of paperwork when you want to transfer funds across the border. Digital currency is far away from any paperwork and third party. Your financial matters are confidential now, how much you are transferring to someone and how much you owe to someone? You don’t have to wait for days to receive your payment. It’s rapid payment method.
STILL STORING AND RELIABLE
There are more than 1500 cryptocurrencies in the market but all are not reliable. There is a number of cryptocurrencies which are in pending to launch and they are not reliable. Bitcoin is known as one oF the cryptocurrencies which are on the target of analysts and prediction is that it will reach about $20,000 in 2018. Whereas many people are selling their coins off but buyers are still there to buy and store it due to their sense of trading.