Bitcoin has hit a rough patch over the last few months if you look at the all time high peaks back in December of $19,800 and has experienced a crypto winter but seems to have survived yet another hiberation period. After reaching its all-time high, the kind of cryptocurrencies has seen its price drop to less than half its peak only to come back with a promising outlook.
However, there have finally been a few signs of bouncing back and returning to its former glory. Currently, the top trading price is around $9,800. We still believe that Bitcoin can rise again and even surpass its current all-time high. Here are five reasons why we think that will happen.
Top 5 Reasons Why Bitcoin Can Still Moon in 2018
Not in any particular order, as all are significant and will be a big determining factor as to how and when bitcoin prices will skyrocket back to all time high levels and beyond.
More Infrastructure And Security
Bitcoin’s best chance of reaching new heights is being viewed the same as fiat money. That means it can be exchanged like any other currency, and more importantly, every marketplace will accept it as payment as if it were fiat money.
Of course, for that to happen, there needs to be infrastructure in place that makes those kinds of transactions easy for users. Perhaps more importantly, users need to have confidence in the security of that infrastructure.
It doesn’t matter how many individual people invest in Bitcoin, there needs to be serious investments from major financial institutions.
At the moment, there are lingering concerns about things like the security and liquidity of decentralized currencies, preventing Bitcoin from attracting investments from the kinds of institutions that can take it to the next level.
There are still concerns from some people about the stability of Bitcoin, specifically with regard to its price.
There’s little point of Bitcoin become a currency for everyday use if there aren’t mechanisms in place of to keep the price stable. Otherwise, your morning coffee will cost you $4 one day and $44 the next day.
Exchange Traded Funds
Also known as ETFs, it’s tough to imagine Bitcoin or any other cryptocurrency taking a significant leap forward without having an easy way to trade them through brokers.
However, Bitcoin has become prevalent enough in our society to make some think that it’s only a matter of time until there are ETFs for cryptocurrencies.
Markets To Regulate Exchanges
One thing that will help secure major investments in Bitcoin is regulated exchanges employing trading platforms for cryptocurrencies. This will help give Bitcoin great credibility, perhaps enough to surpass its all-time high and be looked at as the same as fiat money.
Bonus Reason: Kanye West
— Bitcoin (@btc) May 1, 2018
Do we need to have more of a reason? Kanye West is a decentralize/bitcoin fan, just one more personality we need on our side!
Bitcoin has so much optimism stemming from its nature and innovation behind the scenes. Let us know your thoughts and if any of these are not worthy of being top 5 and if so, what would replace it? In our post over here, we outlined the top 8 reasons why bitcoin's future looks bright. as well as a simple “why should you invest” guide that will help identify why you are here and what a future looks like with a truly decentralized currency at its helm.