In 2008, the world saw a severe economic crisis as our traditional fiat currencies collapsed. At the same time, people started to think about the alternatives to the fiat. Right around the same time in 2009 Bitcoin appeared on the scene and gained a bit prominence. Although in its early years it could not gain much attention, the past couple of years proved to be quite happening for the asset. In December of 2017, the asset was almost touching the $20,000 mark whereas, at the time of writing, it is standing around the price of $3,820 as per www.coinmarketcap.com. Such a big difference. A lot of investors have lost a large amount of money owing to this aspect of uncertainty linked with this asset.
Uncertainty is becoming the trademark of the crypto market. One day the market is seen going up and the very next day, it comes plunging down. Volatility has marred the reputation of this market to a very large extent. Investors and institutions hold back from entering this world because of this issue. Official acceptance is also on the relatively lower side owing to this problem.
For bitcoin, the issue uncertainty has caused a lot of problems. The market fluctuates very often. Investors lose large amounts of money in just a matter of hours. The trust among the general public regarding this asset also drops down owing to the volatile behavior that is shown by it. So what should we expect regarding the price of bitcoin moving forward? The answer, nobody knows for sure.
In the past, speculations regarding bitcoin’s price have proven to be false a lot of times. One cannot say for sure at this moment whether this asset will become the future’s gold or will it act as a global digital currency. It’s just too early to say. This world of crypto and blockchain is still in its nascent phase. It remains to be seen how it evolves and mature.
But yes, there are a few developments that will be under the microscope of many in this arena moving forward. In 2019, a crypto-linked exchange-traded fund (ETF), regulatory clarity and platforms like Bakkt will likely be in the spotlight. These developments might help bitcoin gain some traction when it comes to its price. But for now, nothing can be said with absolute certainty.
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