Based on the news, bitcoin might hit $50000 by the end of 2018. Is this possible? If so, what are the reasons?
Technically, anything is possible. It can even go well above $50000 or even go to 0. No one can say for certain, because we are in a
speculative market. But for the sake of argument, one factor that I think of that will push the price is that another country, another giant like Japan enter the picture and embrace bitcoin. Or Lightning Network implemented this year and then there's a lot of positive outcome because of this implementation, fees lowered, faster confirmation making a lot of online retailers began accepting bitcoin as mode of payment, resulting in more people pouring their money to the ecosystem. Still a long way before the end of this year, so there's a lot of possible scenarios, the only thing we can do is wait and see if every fall into places that will put the price to $50,000.
