WILL CRYPTOCURRENCY PRICE HIKE IN 2018?

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Will Cryptocurrency price hike in 2018?

• Since the time Bitcoin surfaced, there have been
  a lot of speculations about the same. It was 2009
  when the world saw the rise of a new era of
  economic transformation. Cryptocurrencies became
  the other medium of money exchange. Its only
  because of Bitcoin that new technology came into
  existence. Blockchain lies at the heart of
  Bitcoin and other cryptocurrencies came into
  existence.
• Although Bitcoin was new and held a lot of
  prospects, it didnt receive a positive review.

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• For a long time, the price of Bitcoin didnt
  rise it kept on plummeting as many thought that
  Bitcoin is like Tulip crisis. It will grow like a
  bubble and burst soon, thus restricting its price
  rise. Despite all this, Bitcoins positive
  features made it very popular and soon it became
  one of the highest valued cryptocurrencies. But,
  what is going to be its future. 2018 is about to
  end, will we see the same hike in its price or
  will the rate of Bitcoin fall. Lets analyse.

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What is Bitcoin?

• Before heading further, lets have a quick recap
  of what is Bitcoin and other facts about the
  same. Bitcoin is the first digital currency which
  has gained popularity over the years. Many people
  have made huge profits out of it. It is a
  peer-to-peer currency which doesnt require a
  third party for confirming and validating the
  transactions. One can also exchange Bitcoin with
  fiat currency.

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Few Facts about Bitcoin

• Bitcoin first came into existence in 2009.
• Satoshi Nakamoto is the founder of Bitcoin
• Satoshi wanted to create a currency which doesnt
  require a third party
• There are only 21 million bitcoins
• Blockchain forms the basis of Bitcoin transaction
• This platform is powered by a network of
  computers which are known as nodes. The work of
  these nodes is to verify and validate the
  transactions.

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• The nodes which help to operate the Blockchain
  network are rewarded for their work. They need to
  solve a mathematical computation problem, the one
  who does it first gets the reward. This entire
  process is called as mining.
• Bitcoin works on a decentralised platform. There
  is no central server governing the Bitcoin.
  Instead, they operate separately making the
  entire platform decentralised.

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Price Fluctuation of Bitcoin

• When Bitcoin first came into existence, it faced
  a lot of opposition. The concept first didnt get
  acceptance, but in last one decade, it has gained
  popularity. Bitcoin has witnessed a massive price
  rise, especially in recent years. 2017 was a
  great year especially for the Bitcoin holders and
  investors. It is also called as the Bitcoin Rush.
  It reached its highest value in 2017, i.e.
  19,498.63. All this made Bitcoin even more
  popular, and it also gained acceptance. But when
  it comes to the price of Bitcoin in the year
  2018, then it started plummeting in the earlier
  months of 2018. The prime reason behind this was

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• 1. India banned cryptocurrency making it
  illegal
• 2. Facebook decided to ban cryptocurrency ads
• 3. South Korea announced taxation on
  cryptocurrency.

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• Well, this certainly doesnt mean that the price
  of Bitcoin will not rise and it lost its
  popularity. Among the many predictions about
  Bitcoin for the year 2018, John McAfee founder of
  McAfee securities predicted that the price of
  Bitcoin would rise to 10 times. Saxo Bank
  predicted that the price of Bitcoin would rise
  above 60,000 in 2018 before it crashed. These
  are just two examples of the many predictions
  about Bitcoin. The sole reason behind such
  fluctuation is that Bitcoin doesnt offer trust
  to the investors.

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• Conclusion-
• Despite being a decade old, Bitcoin has still
  some unanswered questions like whether Bitcoin is
  going to continue its rise, whether it is going
  to crash, is it like Tulip Crisis, is Bitcoin
  like a bubble which is going to crash soon. These
  are just some of the reasons leading to
  fluctuating price of Bitcoin.

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• The price of Bitcoin is based on how valuable the
  market is, i.e. how many people are buying and
  selling Bitcoin. The price of Bitcoin depends on
  demand and supply. But still, the confusion
  surrounding Bitcoin makes its price fluctuate.
  Although Bitcoin offers series of benefits and
  opens new avenues of financial transactions but
  at the same time, it also has some drawbacks like
  it anonymity of the user, no governance and
  regulations which has led to its usage in illicit
  activities. Such disadvantages make it difficult
  for investors to invest in Bitcoin thus affecting
  its price.

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Blockchain Council Certifications

• You can check out our certifications, and kick
  start your career in the Blockchain space today.
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• Certified Solidity Developer
• Certified Ethereum Developer

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