Bitcoin is showing remarkable progress in the market since the last 48 hours and after that progress analysts and experts are quite active in providing predictions regarding bitcoin value. 2018 was an absolutely rocky start for the cryptocurrency where bitcoin plunged below $6000 and investors were having panic attacks.
They were rushing to the market to sell their coins off but latest 48 hours have changed the whole perception of cryptocurrency in the market. Bitcoin has come up with the great potential and now the predictions are showing something big which is about to come in 2018.
Bitcoin was at the highest point in 2017, the value of bitcoin in mid-December was about $19,000 and then after several bans, it suddenly plunged down to the level of $6000. Now according to the predictions bitcoins going to reach about $50,000 in the mid of 2018 which is triple of the value in 2017.
Spencer Bogart who is a Blockchain partner said that increment in the value of bitcoin is going to give major advantages to the institutional investors. As per his statement, investors have to wait for a while and they have to find something to pass their time until their product has the ability to function itself.
Mr. Bogart further said that no one can tell you whether the prices are going to get up or not? But I can see in future the prices are going to be on the highest level, supply and demand rule will be implemented. A financial analyst at AMSYS, Imran Wasim said that cryptocurrency is going to be mainstream in 2018 than 2017.
He said in next couple of year bitcoin is going to cross $100,000 for sure. If investors are going to show interest in bitcoin one more time and if they are going to invest a real amount in cryptocurrency with the aim of beholding it then bitcoin is going to shoot up in prices.
As per predictions, bitcoin is definitely going to cross $50,000 in 2018 but it all depends on the demand of investors and traders.