2017 was an incredible year for Bitcoin (BTC) and the whole cryptocurrency market. They have shown a strong growth as well as resilience to different “complicated” situations. Investors that placed their bets at the beginning of 2017 could even make 4000% profits. But is it possible for Bitcoin to reach similar growth levels in 2018? Let’s see what experts say about the matter.
SegWit – Lightning Network – Atomic Swaps
At the moment, there are several developments being carried out by Bitcoin and cryptocurrency supporters. The Bitcoin network may receive an important upgrade when all of these developments will be implemented.
The reasons that may take Bitcoin to the next level are: Segregated Witness, Lightning Network and Atomic Swaps. Segregated Witness is enabled by default on the Core client, helping the network to scale. Indeed, if the adoption rate improves, the fees will be lower and the transactions will occur faster.
Of course, Segregated Witness alone will not help Bitcoin to solve its scaling issues. It just gives time for the Lightning Network to be tested and implemented during this year. Once the Lightning Network will be operating, Bitcoin may be adopted by several institutions and enterprises.
Transaction costs were over $20 dollars and now they have been reduced substantially. Another important development will be the addition of smart contracts to Bitcoin. This upgrade is being processed through Rootstock and it is something to look at.
Atomic Swaps will also allow Bitcoin to increase its value. Atomic Swaps would allow any individual and enterprise to freely exchange cryptocurrencies without depending on a third party platform like a cryptocurrency exchange. The transaction may be done in just a few seconds and would allow cryptocurrencies like Bitcoin and Litecoin to work side by side.
Bitcoin Price Predictions for 2018
There are several experts that have predicted an incredible year for Bitcoin. For example, talking with CNBC, Jim Cramer said that one day, Bitcoin may hit one million dollars.
“Is difficult to say if it can really reach $100,000 per coin. Market capitalization should be 1 trillion USD just on BTC to reach $60,000 per coin. Now the entire market cap is at $700 billions. Considering it was $170 billions 5 months ago, now is $400 billions in January 2018 who know what can happen,” he said.
Mike Novogratz has also commented that Bitcoin could easily reach $40,000 by the end of 2018.
He said when talking with CNBC:
“Bitcoin could be at $40,000 at the end of 2018. It easily could. Ethereum which I think just touched $500 or is getting close, could be triple where it is as well.”
At the moment of writing this article, Bitcoin is being traded around $9,800 dollars depending the cryptocurrency exchange. Its market capitalization reaches $165 billion dollars.
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