In 2017, the value of Bitcoin rose from $ 1,000 to just under $ 20,000 before falling to around $ 13,000 at the end of the year. Since then, its value has increased and has moved sporadically from day to day, dragging with it smaller cryptocurrencies like Ether and Ripple.
If you're new to cryptocurrencies, this kind of volatility can be dizzying (and painful if you invest at the wrong time), but if you take a closer look it starts to make sense. That is why the price of Bitcoin continues to change so dramatically and because it could become more stable in the future.
Reasons for price changes in Bitcoin: popularity and regulations
Firstly, individual owners have less power over the price of Bitcoin and, secondly, create stability because more people have an interest in cryptocurrency. The other possibility is that government regulation could help stabilize Bitcoin. In the short term, this could drastically lower its value (like what happened in China and South Korea), but in the future it could help to calm speculation and drive off the inaccurate types of business related to Bitcoins that threaten to drag them down. the whole concept of cryptocurrencies.
How high is the bitcoin in 2019? –
Bitcoin forecast: the price of cryptocurrency will increase despite fears of collapse
Bitcoin has been the best performing currency in the world in six of the last seven years.
The price of BITCOIN will rise again, investors have predicted, among fears of a collapse of a cryptocurrency after the digital currency and its rivals have seen the values collapse.
But despite the fall and the fears, the bitcoin bubble has burst, cryptic investors suggest that cryptocurrencies could increase. Francesco Nazari Fusetti, CEO of AidCoin that allows people to monitor their donations thanks to blockchain technology said: "At present, prices in the cryptocurrency market could, of course, be better, however, the clear correction we see now is not at all close to collapse.
"The fall in prices is actually beneficial for industry, as investors and cryptocurrency enthusiasts will be more incentivized to educate themselves to space." As people become more educated, they will in turn limit fear. that surrounds further price drops, as this is the nature of the volatile cryptocurrency market. "The recent fall in prices and uncertainty in the current market is strongly influenced by a mix of unfavorable news cycle and media-driven speculation" .
Gabriele Giancola, CEO and co-founder of Qiibee, a blockchain-based loyalty ecosystem, said: "South Korea has had a rather incisive impact on the current market situation and prices, however we have seen prices collapse previously and the market tends to rise again.
"In the long run this will not have a big impact, since the power of blockchain and cryptocurrencies goes far beyond the price."
Olga Feldmeier, CEO of Smart Valor, said: "It can easily reach $ 100,000 by the end of next year and maybe even beyond".
Nick Spanos, founder of Zap.org and the Bitcoin Center in New York, said: "Bitcoin has a stellar year ahead, no matter how low the bitcoin has been in the past, it has always come back at least sometimes stronger.
"Bitcoin is now tested and proven on the market: more importantly, people now separate unbelievable Blockchain skills from external issues, so bitcoin is gaining more trust from users and strangers as this understanding improves. perceived negative aspects are taken into account, while the bitcoin rise is practically unlimited. "