In this post, I would like to share you my point of view about Bitcoin (BTC) price and it’s trend as well as my prediction in the near future. I hope that this post will help you answer the question “Should we invest in bitcoin or not?” at least in this time and then maybe in the long run.
Firstly, if you have concerned about BTC for a long time, you could see that BTC price got a bull run in 2017. And Bitcoin was the Top 2 on the most popular key words list on Google – the world’s most widely used search engine. At that time, BTC price used to be nearly US$19,000. There are many factors that caused to the rise of BTC price. But I want to mention 2 of them which would be the most effective factors: 1) the global financial market forecast for CME’s future listing of BTC on 18 December 2017, and 2) the strong performance of the altcoin in few weeks.
As predicted, the bull run of cryptocurrencies always followed by a decreasing cycle. Bitcoin is not out of this rule. Till the end of March, as screenshot at March 27, the BTC price stayed around over 8.000 USD/BTC. Among a week, the price was around from 8.000 USD to 9.000 USD/BTC and kept in a stable. However, there are still signals for its instability in the short run. Recently, on May 30, 2018 the BTC price has increased slightly by around 6.5 percent since its dip to 7,040 USD. And then it stabilizes in the 7,500 USD region.
However, some investors still believe that Bitcoin is on the rebound and give out optimistic forecasts. According to an interview with CNBC, Thomas Lee, co-founder and chief researcher at Fundstrat, expects Bitcoin to reach 25,000 USD by the end of this year. Lee is a big investor who has the exact prediction in cryptocurrencies market in the first quarter this year. Maybes, we should consider his forecast for the BTC price in this year.
By the way, you also should pay attention on the BTC price at this time. The mid-term trend of the bitcoin price still remains bearish, and it is possible that BTC dips below the $7,000 region before initiating a major bull run or a strong rally. There are many assumptions for its trend. You must be a smart investor in your reaction.
As in my opinion, at this moment we should not hold much BTC in out wallet. Because of what I have mentioned above, the BTC price is not stable now. Beside Bitcoint, you could consider to other crypto currencies such as ETH, HT, etc. However, this is only my suggestion. Let’s be a smart investor in Cryptocurrencies market.