It is quite difficult to depict actual variation of Bitcoin price because this crypto currency depends on several factors. Experts often keep on evaluating some facts about its future growth and those deep discussions are proven to be quite useful for investors. However, My no nonsense bitcoin price prediction is for $6,000 USD by 2018. I’ve had this target ever since Bitcoin price broke $2000.
Studies reveal that there are six major factors that affect price variation of Bitcoin and they are going to show major impact even by the end of the year 2017. The list includes economic instability, financial crash, Bitcoin ETF approval, the release of Tumblebit and Lightning network, Hereinafter Segwit and Segregated Witness. Those who are planning to invest in Bitcoin for the coming future and want to multiply their profits are advised to have a clear idea about all these terms.
Effect of Economic Stability and Financial Crash:
It is believed that the leading economic instability and the global financial crash will cause a surge in the price range of Bitcoin. Experts reveal that if local authorities and governments keep on applying such impractical financial regulations and lead to heavy capital controls than most of the business owners will shift towards bigger investment platforms like Bitcoins. As Bitcoins ensure easy transportability and high liquidity in assets to it is definitely an attractive option for small as well as big investors. Some countries that have currency crises due to politics and government: India, Venezuela, China.
Bitcoin ETF Approval:
Many experts are considering Bitcoin ETFs essential part for fund raising. It is believed that several investors and business owners will cause great impact on Bitcoin price shifts. The cryptocurrency platform will be regulated by high profile traders and investors. Presently, two Bitcoin ETFs are under the process of approval for SEC and with this approval, this crypto currency will lead to the maximum investment plans. Several investment firms will play their role in this impactful investment process as it appears one of the safest solutions for profit multiplication.
The impact of Tumblebit, Lightning, and Segwit:
The analysis reveals that Tumblebit, Lightning, and Segwit are working like best scalability solutions and they can facilitate a higher level of transactions with increasing user base as well as with the great boost in the liquidity of Bitcoins. Out of all these three options, Segwit is considered to hold the maximum probability as it is supported by miners, start-ups and wallet platforms. Experts say that as soon as Segwit will reach its activation threshold, it will boost the capacity of Bitcoin network by 2.1 times.
Bitcoin price prediction says that Tumblebit and Lightning are also able to scale Bitcoin network but these methods work in little different manner. Note that, instead of boosting the Bitcoin block capacity, the lightning system assists in easy settlement of all essential instantaneous micro payments. It is really useful because currently, they are not possible due to transaction settlement times. Moving towards the ability of Tumblebit, it works with the highest level of scalability by ensuring anonymity to the Bitcoin users while maintaining privacy and freedom.
So, predictions say that with the effect of all these three factors, the Bitcoin network is going to become highly efficient and profitable. Business owners and large firms can plan to make big investments in this field.