Bitcoin Price Prediction: Why Bitcoin for 2018?

Bitcoin Price Prediction 2018, 2019, 2020

Bitcoin is a term now frequently used by the millennial and investors who want their transactions to be made without the assistance of a bank or middlemen. The evolution of Bitcoin has seen huge heights over the past few years, hence its popularity.

For those wanting to fall into the idea of investing in Bitcoin in the following days, it is vital to know about its benefits as well as adversaries. After intensive research on Bitcoin, it is safe to say that buying Bitcoin might seem like a prosperous investment in 2018.

Many questions might pop up in the minds of those willing to invest in Bitcoins. What are Bitcoins? Is it safe to invest in Bitcoins? What are the adversities of investing in Bitcoins? , are the few questions which any potential investor may ask. Following are the answers to some of these important questions regarding Bitcoin and its prediction in 2018, 2019, 2020.

What is Bitcoin?

Bitcoin has most certainly created a huge buzz for the past couple of years due to the high amount of returns that its investors are gaining. But, what exactly are these Bitcoins? Bitcoin in the most general term is a new cryptocurrency and worldwide payment system which works without a central bank or single administrator. Bitcoin

To put the Bitcoin in broader term, it can be divided into two components. One of its components is Bitcoin the token which is known to be a snippet o code which characterizes the ownership of a digital concept. Another component is Bitcoin the protocol which is a distributed network managing a ledger of balances of Bitcoin the token.

Bitcoin was created in 2008 by a software developer, Satoshi Nakamoto. He based this electronic payment system on mathematical proof. However, no one is aware of who this pseudonymous software developer is, and if he is a real person or not.

Unlike any other investments and transfers, Bitcoin does not pass the payments to a central authority or payment gateway. The Bitcoin is produced and held electronically around the world using free software.

You know!: What is Bitcoin Cash? How is it Different From Bitcoin?

Some of the important characteristics portrayed by Bitcoins is as follows:

Buy Bitcoin

  1. The Bitcoin does not pass through a centralized authority hence it is decentralized. It is run by an open network of computers around the world and is maintained by a group of volunteer coders hence it is not controlled by banks or the government.
  2. There is limited supply of the cryptocurrency since it is rigidly controlled by the underlying algorithm. Until a maximum of 21 million has been reached, new Bitcoins are created in a small amount every hour at a diminishing rate.
  3. Since the Bitcoin is decentralized, there is no need for its holder to identify themselves during the transaction. All of the necessary confirmations as checked by the protocol when the transaction request is submitted.
  4. If a transaction is made in Bitcoin and recorded on the network, it cannot be reversed.
  5. Even microtransactions can be done in Bitcoin, unlike the traditional electronic money. A Satoshi which is one hundred millionth of a Bitcoin also can be transferred.

Should you buy Bitcoin?

One of the vital aspects of understanding the Bitcoin also comes with the question of why attached. What might be the reasons to buy Bitcoin? What good might a bitcoin do to the investor?

There are three ways that one can hold a Bitcoin. One of the ways is by buying it on an exchange. A Bitcoin exchange market is a place where people buy and sell Bitcoins using numerous currencies. Coinbase, Bitstamp, and Bitfinex are the leading exchanges. However, it is necessary to properly analyze the safety of these exchanges before investing in one.

The second method of holding Bitcoin is by transfers. People can simply send Bitcoins to each other using computers or mobile apps which is very much similar to sending cash digitally.

The third way to hold these Bitcoins is by mining. Mining is the process in which the computer and internet connection is used to solve complex mathematical puzzles using the software. Bitcoins are created in the first place by mining. Though it may be a tedious process, it is affirming to know that when a winner solves the puzzle, 12.5 Bitcoin is rewarded every 10 minutes.

If viewed properly and analytically, there are many reasons why it is good to invest in a Bitcoin. Some of the reasons are:

  1. It is not affected by the financial crisis in the real world, and the Bitcoin does not include any central authority. So, for people who are distrustful of the banking system, Bitcoin is the best investment for them.
  2. The money supply in the market has been increasing since the government of the countries has been printing the good amount of money to cover the interest payments on their debt. However, this is absolutely bad for the economy and causes a decrease in an individual’s wealth by an average of 2% annually. Thus, with Bitcoins, it is not possible since the currency cannot be printed and the value will not see a decrease.
  3. With Bitcoins, you do not have to pay any transaction fees, bank transfer fees or deposit fees. Unlike the traditional ways of transfer of money which takes 2-3 business days to arrive, Bitcoin has instant transfer.
  4. There is a definitive privacy in the transactions being conducted through bitcoin since there is no central authority controlling it, hence no identity is required.
  5. It has been reported that almost 62% of the world’s population does not have access to the banking system and services which is shocking. However, in the Bitcoin payment system, no such regulatory authority is needed and the procedure is rather simple.
  6. Sound monetary policy: Bitcoin’s creation and circulation can easily be tracked hence it provides a sound and predictable monetary policy.

All in all, Bitcoin is fast, cheap and easy to use a medium of payment and transfers. So looking at all of these reasons to hold a Bitcoin, it is safe to say that an investor may as well buy Bitcoins.

Why shouldn’t You Buy Bitcoin?

With the benefits come the adversities attached. Recently in December 2017, JP Morgan Chase CEO Jamie Dimon displayed a lot of hatred over Bitcoins in his interview with CNBC. According to him, “Bitcoin is not a real thing, eventually, it will be closed”. He strongly believes that Bitcoin is a fraud and that it won’t end well.

Similarly, billionaire Mark Cuban shared that it is only good to invest in Bitcoins if you can “pretend you’ve already lost you money”. Millionaire Tony Robbins also shared his aggressive projection about Bitcoins saying that “it’s like going to Vegas” meaning that you can easily lose your money.

bitcoin invest in 2018

So are these investors and millionaires correct? There are a few reasons to not invest in Bitcoin:

  1. There is also the huge risk in investing your money in Bitcoin since there is no regulatory system to control the loss that you will most likely face in the years to come. Due to the volatility of those cryptocurrencies, it is only advisable to invest less than 10% of your savings.
  2. Not having the proper knowledge of this new kind of currency might stand as poison to your entire portfolio. Since it is a revolutionary new technology, it is advised that investors put in all their effort to analyze the Bitcoin market before drawing a conclusion to invest in it.
  3. There are security issues in the Bitcoin exchanges from time to time. More recently in 2016, the Bitcoin exchange Bitfinex saw tens of millions of dollars’ worth Bitcoins being stolen after it was hacked. Thus it is vital to use Bitcoin wallets that have high security. Ledger Nano S and TREZOR are secure Bitcoin wallets which can be used if you are considering a serious investment in Bitcoins.
  4. There might be a likelihood of a regulatory system to take control over Bitcoins and people may lose their interest. Bitcoins are being overlooked by Commodities Futures Trading Commission who are expecting to monitor it. So if the gains from the Bitcoin will rise people may have to pay high taxes on it as said by IRS.

Today’s Bitcoin Price

 

Bitcoin Price Prediction

Bitcoin price is not officially set and is shown as the cost of one Bitcoin. As reported in January 2018, the market value of Bitcoin is $238 billion while Ethereum comes second in cryptocurrency with $124 billion.


Bitcoin Price Prediction for next months and years 


1.    
For April 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $13578.4 with a
change of 6.48% for April.


2.    
For May 2018, the Bitcoin price prediction shows that
at the end of the month its price is forecasted at $14679 with a change of
7.23% for May.


3.    
For June 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $15538 with a change
of 5.23% for June.


4.    
For July 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $16374.2 with a
change of 4.98% for July.


5.    
For August 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $17635.7 with a
change of 6.98% for August.


6.    
For September 2018, the Bitcoin price prediction
shows that at the end of the month its price is forecasted at $18269.6 with a
change of 3.36% for September.


7.    
For October 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $19829.3with a change
of 7.78% for October.


8.    
For November 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $ 21885.5 with a
change of 9.19% for November.


9.    
For December 2018, the Bitcoin price prediction shows
that at the end of the month its price is forecasted at $24239.3 with a
change of 8.2% for December.



Bitcoin Price Prediction for 2018



S.N.



Months



Minimum (USD)



Maximum (USD)



2.



April 2018



12698.6



13578.4



3.



May 2018



13617.9



14679.5



4.



June 2018



14725.5



15538



5.



July 2018



15558.2



16374.2



6.



August 2018



16401.5



17631.7



7.



September 2018



17655.3



18269.6



8.



October 2018



18287.4



19829.3



9.



November 2018



19874.8



21885.5



 



December 2018



22073.8



24239.3



Bitcoin Price Prediction for 2019



S.N.



Months



Minimum (USD)



Maximum (USD)



1.



January 2019



22903.4



24016.1



2.



February 2019



22754.7



24100.5



3.



March 2019



24158.6



25113.5



4.



April 2019



25136.4



26025.8



5.



May 2019



26065.1



27131.1



6.



June 2019



27192.6



27998.3



7.



July 2019



28000.6



28824.8



8.



August 2019



28862.8



30108



9.



September 2019



30110.7



30708.4



10.



October 2019



30737.4



32288.3



11.



November 2019



32328.3



34321.7



12.



December 2019



34495.2



36704.2



Bitcoin Price Prediction for 2020



S.N.



Months



Minimum (USD)



Maximum (USD)



1.



January 2020



35405.6



36480.5



2.



February 2020



35224.1



36623.4



3.



March 2020



36679.4



37585.2



4.



April 2020



37618.2



38523.5



5.



May 2020



38567.6



39645.9



6.



June 2020



39676.4



40454.3



7.



July 2020



40486.9



41317.6



8.



August 2020



41336.6



42570.1



9.



September 2020



42567.3



43187.3



10.



October 2020



43227.4



44797.6



11.



November 2020



44836.1



46899.2



12.



December 2020



47068.1



49160.1


Bitcoin price prediction by WalletInvestor.

Thus the positive rise in the returns after the investment on Bitcoins shows that it is smart to invest in Bitcoins. However, one must also consider all the positive and negative aspects of Bitcoin if there is a possibility of significant investment. Hence, a proper analysis of the potential investment must be made before laying a hand on buying Bitcoins.

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