The Hype For Bitcoin In 2017 – Will It Repeat This Year?

The hype for Bitcoin was real last year, especially in December when the leading cryptocurrency got closer to a price of $20,000, increasing by thousands of percents in just a couple of years Then, it unexpectedly fell below $10,000 and showed everyone that it is just a hype.

But what can we say about the hype for Bitcoin in 2018?
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Will we again see the cryptocurrency skyrocketing – or falling below its minimum values?

Many analysts and experts believe that this year could be even better one that 2017 despite the divided opinions among them that bitcoin is a bubble, claiming that its price can go 10 times higher over this year. We won’t discuss if this is a good thing or not. Last year we saw bitcoin experiencing a great surge reaching a record high $19.783 but then it hit hard going down to about $13,889.

Today we can see that although bitcoin is still at number one by market cap, its price is trading at $11.003. (Bitcoin charts) The price of bitcoin is dependent on many factors such as government regulation and media coverage. The drop in the price may occur due to the fact that only 17 companies implemented SegWit out of 156 because of the ability of SegWit to process only 10% of all transactions because of the problems with security and technology issues since SegWit is not tested inside the bitcoin’s ecosystem.

Also, we can see that last year bitcoin’s adoption grew across the entire world and people are still into it this year so this is another key factor in determining the future price of the coin. We also expect this year to see a lot of regulation for cryptocurrencies and that might lead to a lot of investment from financial institutions which will also influence the growth in price. One thing is for sure,the hype for bitcoin is here to stay and it’s going to be one fun year ahead of us.