The year of 2017 has been full of surprises for the investors and virtual currency enthusiasts of the world. The year started with the mild flow of Bitcoin all across the globe but with the wild speculations about its appreciation, it soon touched the ceiling of $20,000. Last week, the value of Bitcoin and several other virtual currencies struck the lowest ebb when there was hearsay that the European Union might soon devise policies to curb the unpredictability and volatility of Bitcoin. The Bitcoin along with several other blockchains have started to recover from the downfall and is soon predicted to recover to its full potential within the first week of January.
According to Nick Collas, the Bitcoin can be traded within the range of $6500 to $22000 in 2018. There are definitely highs and lows expected during the valuation because the fickleness of virtual currencies cannot be eliminated like other money market instruments. There is a prediction as per which, the market will crash several times and will hit the lowest when its value would be reduced by more than 40%. The median of all the price changes would be $14000 to $15000. Bitcoin is expected to have a wild ride throughout the next year but will eventually settle down and get more subtle in its price differences once the EU regulations have been implemented and the blockchain system is more explored by the financial experts.
Looking at the volatility of Bitcoin in the last year of around 1600%, the expectations remain the same about its fickleness. To conclude, one can easily say that the prices would reach the highest point of $22000 in the following year and would further strengthen if there are technological advancements and collaboration of certain e-commerce companies with the virtual currencies.
Some financial analysts believe that Bitcoin will replace gold and other foreign reserves. As of now, there are 36 blockchains and virtual currencies with the worth of more than $1 billion according to CoinMarketCap. Bitcoin is mostly used as sources of personal worth for people but it will soon become a medium of exchange if it is brought under the regulatory bodies.