BTC is struggling. Many people are bullish that it will be strong in 2018.
For those who think that, why do you think that is the case when fees are so high and send times so slow?
For those who think that, why do you think that is the case when fees are so high and send times so slow?
What do you mean struggling? Bitcoin is above $10k. The price for me is really strong. Maybe you are used to seeing bitcoin having a massive bull run specially in the first or second week of December. Bitcoin is based on speculation so I doubt that we are going to see it like have a smooth sailing or something.
I think we can put the Lightning Network as a good case to see what it will bring to the market. Testing is done and its successful are per reported. If people are swaying on bitcoin because of the high fees and slow confirmations then maybe when Lightning Network is implemented and the issues is resolved, then it will again gain traction from the community and the price could go up once more. But we have to wait when LN is going to be activated.
If we are going to look at its price when it was May or June 2017, the price is so low like it was $3,000 - $5,000. But looking at what value it is today, almost $13,000. It is just a sign that anything can happen here in bitcoin because of its volatility. We do not know when but it will surely rise once that the time comes. Predictors said that by the end of 2017, the price is $20,000 yet the bitcoin broke their prediction. Instead it goes down again. It is volatile, isn't? Expect that it will rise again since it goes down. Same cycle will happen for sure, we just do not know when.
