Cryptocurrency is the latest buzzword in the market today. It is nothing but a digital currency whose transactions are considered highly secure owing to the use of cryptography. It serves as a medium of exchange and people can control the creation of additional units of currency using cryptocurrencies. Every cryptocurrency aficionado is aware of the fluctuations in the market in the recent past, people are still optimistic about this currency. There are many newer predictions that are making news in the market of cryptocurrencies. Some analysts are of the opinion that the volatility in the cryptocurrency market is nothing to be alarmed about. This is because many investors are backing away and are now not much inclined towards investing in these cryptocurrencies.
Infact some financial wizards are comparing the huge fluctuations in cryptocurrencies with the fluctuations in prices of stocks of some of the acclaimed companies like Apple, Microsoft etc. Initially the stocks of these companies were written down upon by investors owing to the huge fluctuations in its prices. But with time, the prices of these stocks surged and became much more stable. Same can be said about the fluctuations in the cryptocurrency market as well. Some analysts are also saying that, the fluctuation in prices of crypto currencies is not something that long term investors should be afraid of. This is because, with time, the price4s are going to become stable and these investors can expect huge returns.
Irrespective of the predictions, people or investors are not convinced about investing their hard earned money in Bitcoins .So many of them are holding on to their savings and are waiting for the day when cryptocurrencies will start raising in value agai9n.Another factor which makes people optimistic about cryptocurrencies is the fact that many investors are investing in the cryptocurrency boom. This will further benefit and aid in the stability of cryptocurrencies according to experts.
Many mainstream media headlines are predicting that bitcoin’s price will spiral down towards zero. Some others on the other hand are 0f the opinion that, the cryptocurrency market will remain bullish in the year 2018.In fact some people are predicting that the sales of crypto currencies like Bitcoin will reach up to $20,000 by next year. The absence of a fixed measure to regulate the growth of cryptocurrencies has resulted in frequent revisions in forecasts. Some experts wish to predict the rise of cryptocurrency on the basis of Metcalfe’s law according to which, the value of a network is proportional to the square of number of users in the network.