BITCOIN COULD HIT $100,000 IN 2018

New predictions by CNBC are that Bitcoin may reach a value of $100,000 by 2018. A Saxo-Bank analyst Kay-Van Petersen forecasted that bitcoin would reach $2,000 in 2017. CoinDesk, a site that is a tracker for digital currency prices by exchanges, reported that the bitcoin was being traded under $900 dollars in the cryptocurrency market.  The margin was hit in May of last year. Van-Petersen said that also other digital currencies may rise above the bitcoin such as Ethereum and Ripple. Ethereum may outperform Bitcoin" said the analyst.  The reason why Ethereum may outperform Bitcoin is because the transactions eclipse over other cryptocurrencies.  Ethereum also has more technology developers in contrary to Bitcoin and The analyst stated "First off, you could argue we have had a proper correction in bitcoin, it has had a 50 percent pull back at one point, which is healthy. But we have still not seen the full effect of the futures contracts."

Bitcoin is a form of digital currency. There are many forms of digital currency in development and only a few are favorable in the future economy. The analyst stated that the cryptocurrency market will not be build over night but it will take some time for cryptocurrency traders and investors to join the market. Van-Petersen mentioned in the past that the Bitcoin value could take 10 years to hit $100,000. However the value and popularity of Bitcoin amongst other digital currencies have been rapidly growing. The Bitcoin value is growing based on the basic principle in economics of supply and demand. Many consumers are shopping online more now which is taking over brick and mar traditional shopping. The anonymous group Satoshi Nakamoto is said to be the main developer of Bitcoin.  Bitcoin uses 'blockchain' technology to connect buyers and sellers. The firewall blockchain is suppose to allow users to shield there accounts. However many speculate in investing in psuedo money that is unregulated.

Ten X founder Julian Hosp stated the value may rise on Bitcoin but may crash first. Warren Buffet, elite investor, shared his view on cryptocurrencies and said the market would have a "bad ending." Other countries such as South Korea and China are involved in cryptocurrency trading, however they would like to centralize the currency or ban some digital currencies. I am predicting as long as crypto inflations stay afloat then we could see longevity in the cryptocurrency market. Otherwise a crash would cause disruption or conflict unless resolved by financial authorities. Maybe an alternative would be silver and gold if not the psuedo currencies.

Source
Kharpal, Arjun. “Bitcoin headed to $100,000 in 2018, says analyst who predicted last year's price rise.” Google, Google, www.google.com/amp/s/www.cnbc.com/amp/2018/01/16/bitcoin-headed-to-100000-in-2018-analyst-who-forecast-2017-price-move.html.