Bitcoin is a very precious thing right now and it is on everyone’s list of things to buy in 2018. 2017 saw Bitcoin fighting forking wars and it fought this war very well. 2018 is not easy as well. There are a lot of hurdles from other competitive coins, regulation attempts, etc.
I have tried to come up with unscathed theories and speculations about Bitcoin in 2018.
1. Bitcoin will cross $50,000 mark
With this year’s huge turnaround, it is no brainer that Bitcoin will surely race towards the long-awaited $50,000 mark.
Certainly, there will be hurdles and haters who will try everything in their basket to crash Bitcoin. Let them cello their intentions but right now Bitcoin needs to stop and pitch its tent at $10,000.
The sharpest thorn in this path is, of course, the government interference- most importantly the top businessmen and officials who are against Bitcoin who keep making statements against it every now and then, disturbing the steady flow of Bitcoin.
2. Popularity will surely increase
As the price of Bitcoin increases, the people, as usual, would turn their brain towards it. They will try to get on this joyride.
The pinnacle of Bitcoin is that because of it, other altcoins move. This is just a beginning. Lots of famous experts are giving their views about Bitcoin and this will surely increase the popularity of it.
This popularity of Bitcoin needs to flow towards right kind of people and not criminals. Millenials are averse to financial institutes and very much liking Bitcoin and other cryptocurrencies.
3. Lightning Network saves the day
It is true Bitcoin is not that fast and cheap compared to other coins. But soon, this is going to a thing of the past.
The Lightning Network will slender the Bitcoin fees and transaction delays. The lightening network is the ultimate answer to Bitcoin’s problems.
This is a huge boon to the Bitcoin network and right now Bitcoin needs it desperately.. Bitcoin has been getting a lot of heat due to its poor performance in terms of technology. Some are calling the Lightning Network as the rebirth of Bitcoin.
4. Increase in user base
The actual user involvement in the Bitcoin network will increase in 2018. Many are looking at it as an income source now.
The growth in userbase of Bitcoin is not rudimentary. According to Google Trends, Bitcoin user base doubles every 12 months.
It’s no surprise that the huge price of Bitcoin is what generates the curiosity in people’s minds but to survive longer we need to promote Bitcoin’s core technology.
There are still large chunks of people don’t even heard of Bitcoin. To market it to them is definitely a tough task. A study suggests the reach of Bitcoin would be up to 200 million people by the end of 2024.
5. New forks
Although major forks are over for now, you can’t say what lies ahead. Someone can still break this steady growth chain of Bitcoin for greed.
Forking is not new to bitcoin. It soft forks every now and then. It will fork multiple times in 2018.
But don’t worry folks time after time Bitcoin has proved itself against all odds. I hope people don’t blame Bitcoin for their stupidity. Just look at names of these forks –
Upcoming small forks – Bitcoin God, Super Bitcoin, Bitcoin Silver, Bitcoin Pizza, Bitcoin Ore, Bitcoin Atom, etc. Whether these are serious contenders or just a gimmick – let’s wait and watch.
6. Higher volatility
More demand and volatility has a relationship going on for a long time.
Altcoin prices move with Bitcoin price. This volatility of Bitcoin can compete with major fiat currencies. Let me knock down your reverie, this dream of yours of watching Bitcoin take on the fiat currencies may fulfill in coming years. Bitcoin is so volatile that making it stable is a huge task ahead. As you know Bitcoin never stops unlike stocks or commodities, it is on 24/7, so there is no stopping from high volume.
It is almost titillating to pause for a minute, take a breath for this everlasting train of Bitcoin volatility.
7. Competition from alternatives
There are honestly very good Bitcoin alternatives that got a tenacity to compete with it.
Bitcoin’s main war is how it deals with the technological advancements of other altcoins. Look at Ripple, it doesn’t need mining, plus global financial institutes like banks are using it. Cardano on the other side similar to Ethereum Blockchain has privacy is on the top of their goals. Or NEM would be a better alternative as it is a smart economy currency. And there is IOTA– Internet of Things currency.
8. Competition to Gold
Bitcoin will be a prime choice for investment kicking away gold. Whether you still believe in gold or not but in your next clandestine family meeting, please suggest Bitcoin as an investment option. Gold is steady and a good investment too. But if you want high returns with a risk then go for Bitcoin.
Now, Bitcoin vs Gold war is soaring.
9. Blockchain technology will help soar Bitcoin
Blockchain is the future. Many financial experts are skeptical about Bitcoin but they are impressed by Blockchain Technology. We need to explain the benefits of using bitcoin to them.
The problem is when is blockchain technology is the future but don’t see Bitcoin the same way and we need to change that scenario. Blockchain i.e a public ledger has many practical uses and that is where Bitcoin should come as a payment processor.
The Blockchain technology holds many possibilities to evolve in almost every sector. The differentiation between Bitcoin and Blockchain is what making Bitcoin a bubble.
10. Countries will try to regulate
Countries will adopt Blockchain and at the same time will try to regulate the Bitcoin exchanges. Look at what China did. Indian tax officials recently did a survey of all the Indian cryptocurrency exchanges to plan the taxes and all.
The greedy government will never leave any chance to collect taxes, plan your Bitcoin adventures ahead.
Time after time government officials have shown their hatred for Bitcoin.
11. Early $100,000
There are some speculations brewing in the world of Bitcoin and one analyst went ahead and predicted the Bitcoin could hit $100,000 this year. WOW!
After achieving $50,000 mark the next $50,000 is an easy path for Bitcoin- that’s what I think. The dune of $100,000 is very easy to climb once Bitcoin passes the first challenge – $50,000. But a grave mistake would be to rely only on Bitcoin whales. I gaped at their smart moves and profit taking recently.
12. New scams
Already the Bitcoin industry is fully wet with all the scams. 2018 is not different. Next time when you see flashy ads like double your Bitcoins or earn 10% on Bitcoins daily, just ignore them.
Just look at this way, scammers think beyond you. They incorporate latest technologies in their plan. They can replicate websites to look authentic.
13. A huge crash is on the away
This is possible. Bitcoin has soared very rapidly and all the reason mentioned above may work together to crash Bitcoin massively. Don’t lose your appetite for Bitcoins just because it went downhill.
People won’t stop hating Bitcoin and many already proven wrong – like these 30 people.
Lots of people use the craze for Bitcoin as a FOMO which is true at some point but not for those who are into Bitcoin for quite a few years – long before it hit mainstream.
14. Ethereum may pass ahead of Bitcoin
A large portion of crypto experts already see this happening but whether 2018 is that year, is the question. Ethereum has a lot of things going on. Its features like smart contracts, EVM, DApps, etc are phenomenal.
For a newbie, this is what differentiates Ethereum from Bitcoin. Search Ethereum vs Bitcoin on Google, you will see the explained mechanics of Ethereum that may be just enough for it to beat the Bitcoin. The craze behind Ethereum is its technology, unlike Bitcoin where its price is of great importance right now.
15. People will diversify their portfolio
That is logical but will go mainstream in 2018. People will see altcoins as a safe option compared to highly volatile Bitcoin. Bitcoin should not be your only prisoner in the crypto vault. There are altcoins working hard to stay ahead in the race.
Many apps like Blockfolio helps us to estimate the total worth by calculating prices of all the coins combined.
14. New miners
This year we may see new companies trying to enter into the hardware aspect of Bitcoin mining.
The cogent reality is that as the difficulty rises it is difficult to mine bitcoins. That’s why Bitcoin miners need to be upgraded. Bitmain keeps making new and upgraded Antminers ascending them on the top my favorite miner’s list.
Although Antminer is the king we may get some new miners as people prefer to buy miners from their own countries for faster deliveries. Another factor is which company lists their miner for a cheap price than their competitors because with mining difficulty the price of high-end miner is surely going to rise.
15. Less Propaganda
Recently Facebook banned cryptocurrency adverts on its platform. This is a great news. Many of such ads that mislead poor investments decisions are going to be obsolete at least on Facebook.
Facebook has found themselves averse to those cringeworthy and shady crypto promotions. Although it was a very amble move from Facebook, I assume many people may have got scammed on Facebook.
In 2018, many more social media giants would duplicate this move by Facebook.
16. Get ready to file taxes
First, here’s how to file your income tax return when it comes to Bitcoin. If you want to extend your earnings for the long run then don’t avoid taxes.
As I said in point no. 10 governments will surely find a way to collect taxes. Good news is that paying taxes in crypto triggers more taxes. The sad news is barely anyone is paying taxes. This could generate more fear in government officials and it may lead them to implement strict restriction in whatever degree they want.
17. We may find out who is Satoshi Nakamoto
This mysterious person called Satoshi Nakamoto is still unknown. Recently Elon musk denied the possibilty that he is indeed Satoshi. That’s a bummer, really. It’s infuriating to see that after almost 10 years we still don’t know who is the real Satoshi Nakamoto.
If you are into him/her, here are some amazing facts about Satoshi Nakamoto that you surely don’t know.
Surely the real identity of Satoshi Nakamoto will have nothing to do with Bitcoins price, eight?
18. Bitcoin Markets
It is time people use bitcoin in their day to day life.
Many services are available that accepts Bitcoin by but they are not that means train we have to bill markets with Bitcoin as a payment.
Here is a massive list of companies who accepts Bitcoin.
One can already buy Microsoft products in Bitcoin and other companies may follow the same route in 2 may in 2018.
19. Bitcoin could get out of its bubble phase
To do this Bitcoin have to settle first. Then it has to ensure fewer transaction fees and safety to be used by the people all over the world to get accepted as a payment processor.
Bitcoin is in a bubble face right now as the popularity of Bitcoin is mainly due to its price and not the technology. But things could change in few moments in the crypto world.
A crash may come handy to settle the price of Bitcoin and let it breathe.
20. “Bitcoin is dead” rumors will rise
Bitcoin has died many times and it may die again in 2018 only to rise again with better technology.
You know what Bitcoin died more than 253 times. Here you can see all the times Bitcoin has declared dead. I am very flummoxed that Bitcoin has been put to a lot of pressure to prove its real existence.
Even after the many attempts of killing Bitcoin failed, 2018 could see many such attempts in full form.
21. Rise in Key players
Winklevoss twins among the many others are key players in the bitcoin industry. These famous people keep the faith in Bitcoin alive. More and more famous people could come to generate news for Bitcoin in 2018.
Here are some celebrities who own Bitcoin. Celebrities are immaculate influencers to spread Bitcoin all over the world.
This calm feeling that why should we worry when these people have a lot to lose than us is juvenile yet satisfying.
22. Bitcoin millionaires
It would be a vile thing about Bitcoin if we don’t get Bitcoin millionaires in large numbers. I’m not talking about big wealthy people. I m talking about common man. People are becoming millionaires thanks to Bitcoin is not new and surprising.
Look at this 19-year-old bitcoin millionaire’s advice for young people hoping to invest in cryptocurrency.
Recently Forbes released their first list of richest people in cryptocurrency. Opportunities like Bitcoin don’t come easily. After the rise of the Internet, this is the next big thing. So, don’t waste time and invest in Bitcoins.
But this greed is also worrying me. The greed to become a millionaire easily has put a lot of pressure on Bitcoin.
23. People would sell their belongings to buy bitcoins.
This is already happening and 2018 is not new. Not just common people rich ones too are mortgaging their houses to buy Bitcoins. This is a scary thing to do and is not advised.
Well if you have money you can do such impish things, right? BTW don’t sell your kidneys. On a prudent note, selling things you no longer need in your house to buy Bitcoin is healthy for your pocket. Think about it.
24. Lost Bitcoins
Many people already lost their Bitcoins and don’t know how to recover them. A large number of user started investing in Bitcoin in the year 2015-16. In those years, they may have created many Bitcoin wallets. In the meantime, they may have forgotten about the wallet or lost the password or any private key so, the number of lost Bitcoins in 2018 could be very large.
This is just the beginning of 2018, so a lot could change over the course of this year.
Its advised that you take care of your Bitcoin wallet’s private keys and don’t rely on exchanges. Withdraw all your precious Bitcoins from the exchange as soon as you buy.
25. Bitcoin vs Fiat war
Is Bitcoin the answer to all the problems of using fiat currencies? Those dismissing Bitcoin are indirectly generating the right questions. Bitcoin is a freedom from unconstitutional regulations on honest taxpayer. Corrupt politicians will continue to speak their complaints about Bitcoin in 2018. They can’t make profits directly with Bitcoin. That’s why Bitcoin is not like any fiat currency.
Although, some discipline is clearly needed. Fiat currencies follow some rules and regulations. Bitcoin is decentralized currency and easy to use. But without any proper goals, the situations like block size and fees arises.
26. Smart Bitcoin /altcoin exchange
Binance is already becoming my favorite Bitcoin/altcoin exchange. But there are many new players with added layers of security, speed and trading features are coming. CAPDAX is new exchange which is very fast, and you can mirror successful strategies of traders, also no downtime, tight security of funds, etc are some of its refreshing features.
Many crypto lovers are begging for a smart exchange which is also safe to use. What I like about Binance is how easy it is to saunter from traditional trading to advanced trading and also amount coins it offers. There is no bushy load on trading experience at the time of huge gathering of traders.
27. Bitcoin whales can make or break Bitcoin
Do you know the recent dip in Bitcoin has made rich richer?
These Bitcoin whales are very sharp in their moves. They plan ahead and decide when to buy a certain amount of Bitcoins. Whenever there is a big surge in Bitcoin’s price in a short period of time it means that a whale is planning to sell.
They manipulate the market costing small players their hard earned money in quick time.
There is no denying that Bitcoin is termed as an opulent currency but in 2018 could be a gamechanger year for it. What makes Bitcoin stand out is that after so many hurdles it is going strong. No other coins have faced so many challenges like Bitcoin. In 2018, may Bitcoin surpass all our expectations?
Bitcoin has to prove that it is not a frivolous coin and can compete with other coins on tech aspect.
If people are still interested to buy Gold and other commodities so why not Bitcoin?