As the end of 2017 approaches and we all look forward to a new year, many are looking back at 2017 wishing they had started the year with an investment in Bitcoin. On January 3rd of 2017, Bitcoin passed the $1000 USD per BTC value. For many, that was simply too much to gamble, and many would-be investors were too afraid that the Bitcoin bubble would pop and market value would retract. How wrong they all were.
As of November 30th, 2017, less than 11 months since breaking that price point, Bitcoin broke another milestone by hitting a market valuation of nearly $11,000 USD per BTC on all major exchanges. Those same investors are kicking themselves, realizing that they very likely missed an opportunity of a lifetime, while those who did invest are enjoying a highly profitable year. Bitcoinplay facts on market value tell us that not only is this rapid growth nothing new, but it has been consistent since 2010.
In 2010, a $100 USD investment would today be worth well over $10 million and that number is rapidly growing. With so many now aware of the Bitcoin mega-wave, many are asking, is it the right time to enter the Bitcoin market and will 2018 be the year the Bitcoin bubble pops? Here is what you need to know in regards to Bitcoin’s potential in 2018.
The Two Sides of the Fence
There are really only two sides to the Bitcoin fence. The first is the growing group of investors that have managed to go against the obvious mainstream predictions and who are now are making a killing in the cryptocurrency world. The other is a group that is still convinced Bitcoin is a bubble that will eventually pop at some point. Early adopters and neo-rich Bitcoin millionaires who have already made small fortunes on the famed currency lead the first group. The second is led by old-school investors that remain attached to dated theories, failing to see the intrinsic value of Bitcoin. Both sides of the argument have valid reasoning based on their paradigms. However, only one is cashing in, and that would be the adopters.
Though the second group’s overall predictions for Bitcoin may eventually prove to be accurate, Bitcoin in 2018 is likely still a good investment. A bubble is based on demand and until that demand has hit its maximum, the bubble will continue to grow. Bitcoin is still highly under-adopted and increasingly more people are joining the Bitcoin bandwagon on a daily basis. It is highly unlikely that, in 2018, the maximum for Bitcoin will be reached. As such, it is more likely that Bitcoin will continue to grow through 2018.
2018 Growth Rate
Based on 2017 growth rate and current adoption levels, it is not likely that Bitcoin will continue to grow at its current pace. That being said, however, its market adoption does remain unchanged and legislation or other external factors remain consistent. Most of the Bitcoin investors that are on the pro-side of the Bitcoin phenomenon predict approximately half the growth in 2018 as 2017. If that prediction was to hold accurate, a $50,000 BTC market value for Bitcoin should be reached towards the end of 2018.
Bitcoin is highly volatile and these predictions are just predictions. The two main things to remember if you are planning to invest is, firstly, whether you think Bitcoin has reached its market adoption saturation point or not. If you think Bitcoin will continue to attract more users in 2018, then investing in Bitcoin is probably the right move. If you think the bubble will burst and Bitcoin has reached adoption saturation, then Bitcoin wouldn’t be a good investment.
Whatever your prediction for Bitcoin in 2018, educate yourself and only invest what your willing to lose in the worst-case scenario. Secondly, remember the old adage: no risk, no reward. Is Bitcoin worth the risk to you? Even if you think the bubble will eventually pop, the real question is, do you think you could get in and out in time to make a decent profit? For many, that answer is yes.