How far can Bitcoin go? If we only knew the answer to this question, we could increase our money capital greatly. No one knows the truth about the future of Bitcoin for sure; still, there are so many people who have already grown rich by the aid of the constantly growing cryptocurrency of Bitcoin. So, it seems that the only option is to:
- Do the analysis;
- Identify the risks;
- Invest (only in case you’re ready to go for it).
The aim of this article is to help you come up with the first two concerns, while the last one is completely on your back.
How Bitcoin price fluctuations work?
Each pump is followed by a dump
The volatility of Bitcoin doesn’t stop surprising even the most experienced traders and investors. It can go much higher than anyone expected or, at the same time, dip so low that some even give up hope on it. The only thing that’s known for sure is a pattern that Bitcoin follows. So, every time you see it skyrocketing, be sure to get ready for a certain fall that ends up with another upward movement. This kind of cycle has been continuing for more than eight years of Bitcoin’s existence.
The volume of pump is usually similar to that of dump
That’s pretty logical. The bigger it is, the harder it falls. However, the cryptocurrency sphere is highly unpredictable, so you shouldn’t take it as a golden rule.
Dump is the best time to buy Bitcoins
The tease about this ‘rule’ is that it’s totally obvious for some while makes no sense for others. In fact, it’s no big deal. Look at Bitcoin’s all-time price graph and you’ll get it. No matter how low it dips, it always surpasses its latest records.
Can it collapse?
Considering the amount of money that is being continually invested in Bitcoin, probably, no. However, it doesn’t exclude force majeure circumstances when Bitcoin falls flat. This is the ultimate risk every single investor goes for. The world is just a whole lot of hazard while our goal is to compare risks with returns and make decisions based on that. If done properly, the profits with cryptocurrency are more than just high, so the risks are well-reasoned.
How to seize the moment?
Monitor what experts say
Sign up for sources where you can read or watch various experts’ reviews. It can be anyone you trust: a guy from the Youtube channel or a Twitter account posting Bitcoin predictions. Being a non-expert, you should observe a certain range of various opinions in order to come up with yours.
Keep an eye on sentiments of cryptocurrency holders
The sphere is young and unstable, that’s why the price of coins relies heavily on peer pressure. So, it’s important to know what people think about certain cryptocurrencies at current moment.
Be locked and loaded at any time
If you don’t want to miss the appropriate time to buy (or sell) Bitcoin, you must make sure you’re all set:
- Choose the exchange you can trust.
- Make sure you have a fully-operated account on the corresponding platform. (Some exchanges require ID verification, which is time-consuming for users. So, it’s important to have it all ready by the time you will need to carry out actual operations).
Sometimes prices fluctuate so much that the moment for profitable selling/buying counts to seconds. So, it is important that the exchange you’re using provides stable trading and/or has features that allow for immediate order execution, like it’s done on CEX.IO, for example. In case you didn’t know, CEX.IO is a multifunctional cryptocurrency exchange that provides trading of Bitcoin and the most popular altcoins, including Ethereum, Dash, Bitcoin Cash and even Bitcoin Gold. They have the feature called Fill-or-Kill, which freezes price for 120 seconds. The exchange guarantees that within this time you will be able to buy cryptocurrency for the set price, no matter the market fluctuations. So, it’s basically the exchange that takes all the risks. You can try it out in the Buy/Sell section of the platform.
What are the predictions for Bitcoin in 2018 and when is the right time to buy?
In 2017, Bitcoin has surpassed everyone’s expectations by reaching close to $20,000. The current Bitcoin price is about $15,000, which means that Bitcoin is dipping. But the question is: How far can it dip? How to find the best moment to buy it if the price surges up and down every day?
That’s a tough question. Everyone has his/her own ideas in this regard. In the crypto community, there’s a widespread opinion that Bitcoin can go as low as $10,000. It’s hard to say for sure whether it will or will not happen. But the truth is that, if it does, it would be the perfect moment to buy BTC, because the predictions for 2018 are highly positive…
$100,000 for 1 BTC in 2018, is it possible?
There’s always doubt, however it is highly anticipated. Past year was groundbreaking for the sphere of cryptocurrency, because it opened the notion to a wide audience of people who were unaware of it. Consequently, many countries started working on the Bitcoin regulation or have already introduced it, like Japan did.
Considering the foregoing, we can make the following conclusion: 2017 was the year of Bitcoin acceptance among people, which made its rate increase almost 20-fold. 2018 will bring the first cryptocurrency to a drastically higher level, because the ‘acceptance’ will occur on the governmental level. Taking this into account, $100 000 per one Bitcoin is not even the highest prediction by the end of 2018; it’s not even ten times more. How far can the potential price skyrocket is up to everyone to think on, but there’s no doubt that the altitude will be breathtaking.