Given that the Bitcoin price plummeted in December 2018, dropping by 80 percent in only 300 days, you will be forgiven for thinking there’s no way the Bitcoin price would reach $50,000. Even the Litecoin price has been on a steady downward spiral, starting in December 2018 at around the $40 mark.
However, before you start getting nervous about your investment on popular exchange platforms such as Coinsmart, take a moment to think about the pattern of the Bitcoin price and Litecoin price in the past. It hasn’t always been smooth sailing.
There’s no denying Bitcoin’s high of nearly $20,000 in December 2017 is a far cry from the almost $3,000 value 12 months down the track, but the market saw similar crashes not long ago. The last being in 2011 when it dropped to $2.20 – losing almost its entire value at a 97 percent loss. Cryptocurrency bounces back, and the Bitcoin price will too.
Experts predict the Bitcoin price to remain dismal for the entirety of 2018 but will pick up in January with the launch of a new digital asset trading platform run by Intercontinental Exchange, or ICE. By mid-January, 2019, the price would be around $12,000 but would fluctuate about $10,000 until April when it picks back up to the January price.
Between May and December 2019, cryptocurrency experts expect such advancements in technology that the Bitcoin price will be more than $50,000. Even crypto expert Marius Kramer believes it will be as high as $68,000 in January 2019.
What’s more, Marius Kramer says the significant loss in recent months was as a result of price manipulation by crypto whales. Crypto whales are individuals who own the bulk of the Bitcoin wealth and use it to manipulate the prices.
Often, the goal of manipulation is for investors to enter the market with a more affordable buy-in, then seeing an increase in the value until it’s worth the same, if not more, than it was before. Marius now thinks it’s the calm before the storm, and from December 2018 until December 2019, it will be interesting to see what the Bitcoin price and Litecoin price do.
If you have not yet invested in cryptocurrency, now is an excellent time to try it out. Check out the Bitcoin price and Litecoin price on reputable exchanges such as Coinsmart, and give the market a try.