Is Cryptocurrency Investing a Good Idea Now?
Bitcoin is the best-known type of cryptocurrency, also it is the first of the group to gain any attention beginning several years ago. So when it comes to advice and predictions about cyber coin, Bitcoin tends to be where the emphasis begins.
2017 was a good year for Bitcoin and many other brands of cryptocurrency, but as 2018 began, Bitcoin saw problems, dropping in value radically. The lower price now may allow for much more growth for the rest of the year and buying in now could offer great growth potential.
As the year began, one of the partners at Blockchain Capital said that in 2018 Bitcoin’s price could rise as high as $50K (double what it ended at in 2017). Though Mr. Bogart also said: “I can’t tell you exactly what’s going to happen with price and neither can anybody. But when I look out over the next 12 months, what I see is a significant supply and demand imbalance at the current price levels.”
AMSYS Group’s Imran Wasim, a financial analyst, mentioned his thoughts of the future of Bitcoin and cryptocurrency will become “more mainstream” in 2018. He also said: “It has dropped in price, this is good. A lot more money is going to come into bitcoin, bitcoin will go up around $30,000-$35,000 this year – next couple of years? $100,000. It is going to happen, because of its a store of value.” But Wasim had no idea about the timing when that will happen. Others say that Bitcoin is likely to drop as low as $5K, so for those without unlimited investing funds, it may be a good idea to wait a little longer to see if there are further drops before investing.
Most experts are bullish on Bitcoin and some other well-grounded cyber currency in the long term. Shopin’s CEO, Eran Eyal, thinks it will eventually hit $100K. Bobby Lee, CEO of China’s BTCC (the first Bitcoin exchange there) believes that within 20 years or so, it could go as high as $1 million. He also said: “Right now it’s 10,000, it will go 100,000 and then 200,000, 500,000.”
Cyber coins are used for a variety of exchanges, but many think of it as the first true global coin. The internet has created a global economy outside of national or political borders, so cryptocurrency offers an interesting way of investing in the future and the world where we live.
Among the many PR firms working in cryptocurrency, 5WPR is one of the few to have set up a practice area specifically to cater to cybercurrency companies.