Bitcoin’s current reward opportunity attract more and more novice investors. Like everything else, Bitcoin prices are also driven by the Law of Supply and Demand. When there is too much Bitcoin demand, while Bitcoin supply is limited, the price of Bitcoin will ultimately rise. Indeed, this was the reasoning in the first part of our 2018 Bitcoin Price forecast.
Will Bitcoin Crash?
If more countries create regulations/laws for cryptocurrency, more bad news will be published. This means we may see Bitcoin crashing again. Countries such as South Korea, Japan, China, France and the United States all want to create new regulations.
Even though they want to create new regulations, we must remember that:
This could take a long time.
It might not affect the price of Bitcoin.
Until then, the most popular Bitcoin projection is that it will continue to rise.
CEO of VA Research, David Garrity’s Bitcoin Price Prediction — Will Bitcoin Crash?
There are other experts who offer a different opinion. David Garrity (the CEO at GVA Research) told Bloomberg that Bitcoin is going to crash as low as $5,000 this year.
It isn’t all bad news, though. He believes that by the end of 2018, it will go back up. He says it’ll get to almost $20,000, just like at the end of 2017. As we have seen in Bitcoin’s history, this is completely normal for the cryptocurrency.
We should not ask ourselves, “Is Bitcoin going to crash?”, but “When will Bitcoin crash?”. This is because when it does crash, we can buy Bitcoin for a much lower price!
Conclusion
It’s clear: if done correctly, buying and selling Bitcoin can mean big profits. It’s made a lot of money for people in the past, and still is today. It is also clear, though, that you can lose a lot of money too.
You should now have a greater understanding of how and why the Bitcoin price changes (supply and demand, regulations, news etc.), which means you know how people make their Bitcoin price predictions. As well as thinking about these things (supply and demand, regulations, news etc.), they also think about the technology of Bitcoin (the Bitcoin blockchain) and its progress.
Now that you’ve read about the predictions of Bitcoin experts, do you have a Bitcoin Price Prediction of your own? Let us know!
Important note
Before investing in Bitcoin (or any other cryptocurrency), you should make further research and always speak to a financial advisor. Never invest more than you can afford to lose. Bitcoin is still young and the price is always changing, so things sometimes happen that nobody can predict.