People are having different opinions about cryptocurrency. Some are saying that cryptocurrency is not the future and nothing can replace gold, silver or platinum as a traditional trading but some are totally in favor of cryptocurrency and they see it as a future.
Everything is going towards the digitalization then why not cryptocurrency? In the mid of December, every cryptocurrency was at its peak, bitcoin was at the value of $19,000 while Ripple XRP was at $3.65. As soon as 2018 started, all cryptocurrency declined and value of every cryptocurrency dive down to the lowest value.
Bitcoin plunged to the value of $6000 while Ripple XRP was at $0.50. The first week of February was not too good for cryptocurrency but in last 48 hours, cryptocurrency is showing remarkable progress.
Although bitcoin is still having some fluctuations in the prices and it’s not moving above $9000 due to regulations issue happening in some of the countries. But still, bitcoin has recovered about 60% of its value in last 48 hours. You can’t say that bitcoin is a total profit or total loss but it’s still in somewhere middle where you can’t predict anything for sure.
2018 seems to be challenging for both markets crypto and stock market. Both markets are going through a hard time but if we are talking about the bitcoin then people are still buying it and they are believing that bitcoin is going to cross the value $50,00 at the end of 2018.
According to the analyst’s bitcoin is not that volatile as it seems to be and once all bans and regulations will settle down, bitcoin will only rise and will be unstoppable. After the return of bitcoin in market more institutional investors are attracting towards the trading and bitcoin. In February predictions are that bitcoin may reach the value of $15,000.