What will Bitcoin be worth in 2018

What will Bitcoin be worth in 2018?

Will bitcoin continue its rise? We will discuss and try to answer “What will Bitcoin be worth in 2018?” question in this post.

Beyond any doubt, cryptocurrency community is curious if bitcoin will keep its rise in 2018. As of December 2017, Bitcoin has passed $17.000 limit. It will not be wrong to say that 2017 was the year of Bitcoin. In the beginning of this year, the price of Bitcoin was as low as $800. So what is the next stop for Bitcoin? Some important actors name the rise of Bitcoin in 2017 as a bubble that will burst eventually. For instance, Sexo Bank released its annual Outrageous Predictions list on the variety of topics from politics to finance. In the report, it is stated that Bitcoin will rise in 2018, only to sharply fall down to a mere $1,000. It should be also noted that last year Sexo Bank estimated Bitcoin’s price to be tripled in 2017. They were right, but the rise of Bitcoin just did not stop. However, if you are planning to exchange your Bitcoins with money based on these projections, it is also helpful to remember MalwareTech’s comment.

Will Bitcoin reach $40.000 in 2018?

On the other hand, many people have $40.000 in mind as the price for Bitcoin in the upcoming year. As is known, cryptocurrencies are not tied to a bank or government, but lines of computer code are digitally signed each time they are traded. As a result, Bitcoin made its debut on a major US exchange, Chicago Board Options Exchange (CBOE). This might be a start of another era for Bitcoin if other exchange markets add it to their transactions in 2018. Apart from that, it is known that many people entered cryptocurrency market for the first time by investing in Bitcoin this year. Finally, by looking at the sale numbers and market shares of the Graphic Cards (GPU) manufacturers, this trend is likely to continue for a while.

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Cryptocurrency News December 2017

Read our latest article Cryptocurrency News December 2017 in order to learn about the most important updates: the unexpected price drop in Bitcoin, malware warning on Javascript-based browser mining, and possible 2018 value loss for Nvidia and AMD.

At the end of the last month, the price of the Bitcoin dropped more than $1,000 (almost 11 percent) in the span of an hour. Just before this dramatic drop, it reached an all-time high above $11,000. Service outrage of GDAX, Bitstamp, and Gemini was also reported in the social media. This was the lowest price drop in the Bitcoin Price Index (BPI) since November 26 when bitcoin hit a low of $8,757. As of December 2, 2017, the price of Bitcoin is around 10,956.55.

On a separate note, experts warn users about Javascript-based mining malware that is currently distributed by several websites. Hackers hijacking plugins and publishing their malware through thousands of sites in order to use visitor’s Central Processing Units (CPU) power to mine the crypto-currency. Moreover, it was stated that the browser choice of end-users is also important in this forced mining practice.

Among all cryptocurrency mining hardware producers, the competition between AMD and Nvidia is an important one to watch. Highly performance Graphic Cards (GPU) demand from cryptocurrency miners increased the stocks of these producers on Wall Street in the recent years. According to Joseph Moore, Morgan Stanley analyst, this trend might be temporary and we could see an ongoing decrease in 2018. He added, AMD has been tight-lipped about its cryptocurrency risks; whereas, Nvidia has clearly defined its exposure to the cryptocurrency market and has assured investors that its projections incorporate downside risks. It is reported that the overall demand is largely driven by Bitcoin and Ethereum miners and unless the demand for other currencies increases, these companies (and their investors) will experience a hard time in 2018.

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Cryptocurrency News November 2017

Read our latest article Cryptocurrency News November 2017 in order to learn about the most important updates for cryptocurrencies and cryptocurrency mining equipment!

Beyond any doubt, it is an important month for Bitcoin for several reasons. Bitcoin added $41 billion to the market cap and hit an all-time high of $7,998.40 on November 17, 2017. Two previous forks have already happened earlier this year, leading to the creation of Bitcoin Cash and Bitcoin Gold. Bitcoin Gold blockchain was launched on November 12, 2017 by the developers that created the fork. The team backing this project made the announcement earlier this month in their blog post and added:

“We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the Bitcoin Gold community can have a full suite of services at launch time. Thank you to all those who have donated their hash power to this effort! We’d also like to extend our gratitude to all those service providers who have been working so hard with us to prepare a fully functional ecosystem at launch.”

News from cryptocurrency mining hardware manufacturers

There are also important news from two big Graphics Processing Unit (GPU) producers Nvidia and AMD. On November 9, 2017, Nvidia released its third-quarter results and it is noted that revenue for cryptocurrency mining-related products was dropped to $70 million, from $150 million during the second quarter. The company’s chief executive officer, Jen-Hsun Huang, suggested that this decline was mainly caused by an up-and-down market that is susceptible to shifting demand. On the other hand, AMD reported a 74% increase in the third quarter of 2017, compared to previous quarter. The increase in the sales of the Vega 56 and Vega 64 was especially noted in this quarter.

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