Why is Bitcoin rising?
As more and more people learn about the benefits and disruptive nature of bitcoin, more and more people are jumping aboard the crypto-train. People are starting to understand the value of digital money, and thus the price of bitcoin is sky-rocketing. We often forget though (or perhaps we fail to realize), the cryptocurrency market is still incredibly young – and relatively small. Apple alone has amarket cap just under $900 billion, with the whole of the cryptocurrency marketworth $332 billionat the time of writing. So what does that mean for bitcoins future? It’s a matter of supply and demand… and there is a finite supply. It’s clear now that people want in. With that said, it’s likely just reaching critical mass. Mass adoption here we come. 🙂
How high will Bitcoin go?
After rising so much in 2017 it’s hard to imagine, grasp or believe how high it can actually go in 2018 and beyond. There is a lot of speculation going around with people throwing in radical predictions varying between $25,000 to $250,000. To name a few:
- Michael Novogratz, former hedge fund investor, claims bitcoincould ‘easily’ hit $40,000 in 2018.
- John McAfee predictsbitcoin is headed to $500Kby the end of 2020.
Since then, he has famously tweeted:
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyDJohn McAfee (@officialmcafee) November 29, 2017
Still not convinced? With rumors of Wall Street investment, and futures markets opening up – one thing is clear – 2018 is going to be a really big year for bitcoin.
Is now a good time to sell Bitcoin?
If you’ve been HODLing Bitcoin for a while, maybe it is a good time for a shopping spree. There is always the risk of a Bitcoin dip, so cashing out now, paying off some bills ortreating yourself to a new Lamboas Peter Saddington did could be a good idea. If you’re looking for an easy way to spend it, our Wirex payment card allows you to spend bitcoin like a normal debit/credit card (anywhere Visa is accepted). With Christmas around the corner, it might be the perfect time to start loading up on pressies.