Over the course of 2017, Bitcoin has broken records in regards to growth. At the beginning of this year, Bitcoin was trading at just $900 and at well over $15,000. While there are a variety of skeptics out there who view this growth as a financial bubble, there are others that think this growth is only the tip of the iceberg. If you are like most Bitcoin investors, you are anxious to see what 2018 will hold for this crypto-currency. There are a number of analysts who believe that 2018 will be a high-growth investment for 2018. The following are just some of the factors that these analysts cite when claiming that Bitcoin is only beginning its rise.
- The Adoption of Bitcoin is Set to Explode in 2018
One of the biggest factors that will lead to the rise of Bitcoin prices in 2018 is the widespread adoption of this crypto-currency. In April of 2017, the Japanese government certified Bitcoin as an accepted payment method in their country. This means that over 260,000 stores and food based businesses are now accepting this form of currency in this country. With the Japanese people starting the trend of adopting Bitcoin as an accepted payment method, it is only a matter of time before other large countries follow suit. The widespread success of Bitcoin in Japan is also giving other countries an idea of how crypto-currencies work and why accepting them is a great idea.
The trading volume of Bitcoin is also up. In 2017, this form of crypto-currency has experienced a 55% increase in transaction volume across the world. Nearly 30,000 new Bitcoin wallets are being created on a daily basis, the widespread demand for this currency is sparking growth that should go well into 2018. There are many rumors out there that online juggernaut Amazon will start to accept Bitcoin as payment in the upcoming year. The more acceptance this currency continues to get, the easier it will be for the value of Bitcoin to rise.
- Regulatory Oversight is a Great Thing
As 2018 rolls in, many Bitcoin analysts expect for an increase in the amount of oversight and regulations regarding crypto-currencies. The more regulations there are in place for Bitcoin, the more you will see large financial institutions investing lots of money in this space. The regulations expected to be approved by the U.S. Securities and Exchange Commission would allow large institutions to invest in this space, as well as provide investment options to their customers. The ETFs would help to open the world of crypto-currencies up to a larger investor base.
- Disrupting the Status Quo
Newer technologies like Uber or Airbnb have come in and turn the status quo on their ear in a relatively short amount of time. Many believe that Bitcoin is posed to do the same thing to the financial world. The blockchain technology that Bitcoin is constructed with is beginning to grow rapidly. With over 1200 new variation of cryptocurrency, many in the market are using these unique currencies for a wide range of things.
- Trust in Wall Street is Beginning to Wane
Another advantage that Bitcoin has going for it is that it is completely different from Wall Street. Since the subprime mortgage fiasco of 2008, most people have lost all trust in the Wall Street system. After the financial collapse, the Bitcoin system was formed to combat poor financial practices common in the financial sector. By using blockchain technology, Bitcoin is able to eliminate the need for a central banking system. While the idea of a world without central banking is alarming to some, many younger individuals view this as the best alternative for the future.
Working with a Bitcoin broker is a great way to figure out whether or not to invest in this crypto-currency. Taking some time to research the possibilities of Bitcoin is essential before investing.