Cryptocurrency which was at the top in 2017 plunged all the way in the starting of 2018. From the value of $19,000 bitcoin was standing at the value of $6,000 in January 2018. Now it seems like Bitcoin is recovering from the major loss and trying to get back to the previous position. According to the experts, it has been predicted that this year will be a great year for bitcoin. Here are three reasons why 2018 can turn out to be good for bitcoin.
As compared to the last year, it has been estimated that this year investment is going to be double. About $10-$12 Billion will be invested in the market and traders will buy bitcoin more due to the heavy profit. The market capitalization will be impressive this year and due to the major news regarding bitcoin, people are showing more interest in cryptocurrency and willing to invest a major sum of their fortune in the digital currency.
New regulations always make market volatile and cryptocurrency shed some value but these regulations are making cryptocurrency stable in value. Due to the strict regulations, there will be safe and scam free trading all around the world. After implementing regulations Japan, South Korea, and other countries showed their interest in investing in cryptocurrency. Major companies are investing in bitcoin after having rules and regulations for anonymous trading. This year can turn out to be good for bitcoin because now traders feel secure in trading bitcoin.
LEGITIMATE INITIAL COIN OFFERING
Last year there was the number of ICO but most of them were not effective and real. Investor lost their money when they invested in those coins. This year ICO will be legitimate and it will increase the demand for ETH. To introduce more of ICO, they will need the support of ETH. This strategy is going to increase the demand for cryptocurrency all around the world and market capitalization will be high.