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The advent of Bitcoin and its underlying blockchain technology reshaped the finance market in a couple of years. After Bitcoin made a statement around the globe, many other cryptocurrencies also came into existence to encourage the traders to proliferate their investments. In December 2017, an abrupt surge in the Bitcoin price made all the investors and Bitcoin holders hit the jackpot nightly. However, this euphoria didn’t last long as the whole market turned red upon the downward spiral of the Bitcoin price after Christmas holidays. The plunging price of the Bitcoin sparked a debate about the future of Bitcoin as well as other cryptocurrencies among the investors and the traders.
So, will this digital money eventually supplant the fiat money and become ubiquitous or fade away in the coming future? In the effort to find an answer to this question, we have shed light on the sentiments of the experts to analyse what crypto market can bring to the table in the short and long term.
Different experts prognosticate a different fate for digital money. Some believe that it will eventually collapse, while others say it will be recognised as the only currency in the world. Let’s try to figure out which opinion is closer to the truth and whether cryptocurrencies will boom in the future or not.
Since governments of many nations are planning to regulate the cryptocurrencies, investors are feeling more comfortable and secure about investing their funds into them.
Timothy Cook Draper, an American venture capital investor, made a bold prediction on 12 April 2018, that Bitcoin will hit a milestone of $250,000 by the year 2022. In other words, Bitcoin value will escalate 30 times from what it was on the day of Tim’s prediction. But any surge in the price of cryptocurrency will be a gradual one.
While some investors have already been putting their money in cryptocurrencies, others are diligently analysing the market. The introduction and implementation of regulation will encourage the analysers to invest in the cryptocurrencies as they will have less anxiety about the uncertainty of the crypto market.
With a market capitalisation of about $500B, the volatile nature of cryptocurrency is nothing unusual, Jeet Singh, the portfolio manager of cryptocurrency told at the Davos Economic Forum in Switzerland. He claimed that it is normal for digital money to fluctuate by 70-80%.
He further compared cryptocurrencies to early tech stalwarts like Microsoft by saying, “if you look at Microsoft or Apple when they went public, their stocks were very volatile because the market wasn’t mature.”
Then, he added that the volatile nature of the cryptocurrencies might have mused newer traders, but it doesn’t bother the investors who have been there for a long period, as they’re accustomed to the fluctuations.
Ronnie Moas, one of the famous crypto experts, invested his funds in Bitcoin, Litecoin and Ethereum for the first time in 2013 and after that, he started providing recommendations about cryptocurrencies. He had been claiming that crypto price will elevate and when his predictions came true in 2017 with an impressive soar in ETH value, the investors started believing that his views are worth pondering. Ronnie Moas believes that the price of Bitcoin will rocket to $28,000 by the end of this year. He is sure that pessimistic attitudes about cryptocurrencies are just to restrict people from investing in this rising market and making headway.
The Final Call:
Taking the opinions as mentioned above of crypto experts into consideration, we would say that in spite of the volatile nature of the digital currency, it has a promising future in the crypto market and will replace fiat-currency in a couple of years. The price of Bitcoin has been burgeoning gradually from the last month, so we can hope that it will keep on increasing at the same or fast rate and the prediction of Mr Ronnie Maos about BTC value for this year will come true. Stay optimistic!
Moreover, businesses belonging to crypto sphere are bringing forth more secure exchanges and security token offering platform with the help of cryptocurrency exchange development company. These financial innovations coupled with an additional layer of security will allow the traders, investors and businesses to take full advantage of this market. If you are dreaming for successful security token offerings or cryptocurrency exchange development to streamline your business and disrupt the market, request for a free quote with professionals to give wings to your dreams.
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