Bitcoin was the first decentralized cryptocurrency. Since 2009, when Bitcoin was launched, there have been many new cryptocurrencies created. In early 2018, the popularity of cryptocurrencies reached a fever pitch and the price of virtually all cryptocurrencies rose skyward. Eventually the sellers in these markets took over and prices tumbled back to earth. The price simply rose too fast and was unsustainable. The cryptocurrency price forecast for 2018 seeks to answer the question of whether prices will return or exceed the levels seen in January.
Cryptocurrency future price development will depend upon whether media attention regarding cryptocurrency will be positive and if public sentiment toward cryptocurrency improves. There is a significant climate of mistrust with regard to government. This is a global trend at present. Brexit, the United Kingdom’s attempt to leave the European Union, and the election of right-wing leaders like Donald Trump demonstrate this. This has a tendency to benefit cryptocurrency as it is more or less decentralized and many of them are not controlled by any central authority. Even many of them are designed with technology to prevent any one person or small group of persons from controlling the currency. This is not the case with fiat currency as central banks, ruled over by a very limited number of people, control almost every aspect of their currency’s production and other manipulations of the currency market or the economy it fuels.
Do all people see cryptocurrencies in positive light?
There is another group of people who don’t like cryptocurrency. They regard it as a Ponzi scheme or some other scam. It is fair to say that some cryptocurrencies definitely are scams, but that is no more shocking than saying that there are businesses which are out to steal your money. Counterintuitively, many of these same people who distrust cryptocurrency also distrust the government. The key difference is that they also bear a mistrust of technology. They do not trust cryptocurrency, due to a philosophical opposition to technology or perhaps a lack of understanding it. People tend to fear what they do not understand. This type of people is a significant group of the population. There are always internet posts calling for the complete failure of cryptocurrencies, so that they can buy a GPU (graphics processing unit) card for a decent price. These graphics card chips are specialized in the crunching of numbers needed for high-resolution graphics, which makes them highly suitable for the complex calculations necessary to mine crypto coins–a fact which has raised the price of the cards. These posts are only half-joking. The animosity is real. Any cryptocurrency price prediction analysis must take into account the significant number of people who oppose cryptocurrency at a philosophical level, or in the case of those upset about GPU prices, at a pragmatic one.
Forecast of the cryptocurrency future
In order to make our crypto predictions, we must look at what type of person supports cryptocurrencies, at least enough to buy into them and support them economically. The supporters of cryptocurrencies tend to be younger and technologically savvy. Investors will generally buy anything they believe has the potential to go up in value and make them money. However, most investors, unless they are gamblers, tend to invest in those things which they understand. Those who have no ties to the existing financial system or fiat currency and traditional money transfers also would tend to be more open-minded about cryptocurrencies. These people include the poor in the West as well as the majority of people in the Third World. This is why so many cryptocurrencies have their plans focused on the Third World, where there is not a lot of financial infrastructure, and what infrastructure there is tends to be exploitative, unreliable or downright shady.
There is significant conflict between governments and the cryptocurrencies as a whole, not just in direct control of the money supply, but also with regard to taxation and illegal activities. Governments cannot tax income that they cannot see. If transactions are anonymous and private, like Zcash has the ability to provide for example, there is no way that the government can figure out who sent or received what funds. Governments, particularly since 2001, have frozen accounts of those they believe are engaged in terrorism or other illegal activities. In a decentralized platform with no central authority, this is impossible. Money laundering is also something governments fear that cryptocurrencies are making easier, as dirty fiat money can enter the cryptocurrency market and exit as clean fiat money, making fiat money tracked and associated with some illegal activity impossible to trace.
Cryptocurrency price prediction for 2018
Our Cryptocurrency price prediction analysis takes into account all these forces mentioned above that will act on the price of cryptocurrencies in 2018. We believe that cryptocurrencies on average will increase in price over 2018 by a range of 50-2000%. Some like Zcash and Bitcoin, which are already highly value will increase less. Those like Stellar and Cardano, with much growth potential, will grow more.