The year 2017 saw an exponential growth in the cryptocurrency market, where it started off from a very low price and went as high as USD 17,900 in the previous year to come down to USD 9,000 again. The recent fluctuation within the span of 2-3 months has led to different analysts making various speculations about the expected price hike in the currency by the middle of the current year. Fuad Ahmed, a currency trading expert views the situation and estimates a rise of cryptocurrency again as a casual process, he opines that the fluctuation of 70-80 percent in the digital currency prices is a common phenomenon. Keeping in view the track record, he predicts that the currency is going to go up to 65,000 by the end of July this year.
Fuad Ahmed clearly states that the year of 2018 will see a different kind of revolution in the Bitcoin and other cryptocurrencies. The currency Bitcoin in the previous year towards the end has taken a sharp dip till below $6,000, which actually is the first time since November 2017 that the currency has gone so low. The cryptocurrency market earlier was running on a very volatile position where it was going higher and higher to come back lower and much low till it stabilized at this place where its maintaining station at around $8-9k recently. However, currency experts like Fuad Ahmed claim that the growing acceptance of cryptocurrency and blockchain is going to bring it back to the higher position from where it started to stumble.
It has been claimed that the interest in the crypto business is continuously on the rise and some of the tech giants are beginning to become participants in the crypto-market. The speakers at the World Economic Forum in Davos compared the crypto-business with the early stages of tech companies like Microsoft and Google. Here they told the audience that the acceptance of this new phenomenon is increasing, however, with some people sceptical about the growth, the fluctuation in the price of currencies recurrently keep occurring.
They are also of the opinion that the growing interest in the crypto space, in general, indicates how the investor is going to put more in the sector and let the industry progress. There are many speculations and predictions about the crypto-currency to regain the position in 2018 that it lost two months ago.
Comparing the market to the Microsoft and Apple, Fuad Ahmed, the currency trading expert recalls that the public had responded in nearly the same manner when these tech giants had released their stocks, they came out to be very volatile as the markets weren’t too mature for those stocks. The same phenomenon is said to take place in the crypto market as well.
It’s the volatility of the market that plays as the major influencer in any kind of trading, be it forex trading or the cryptocurrency trading, the investor generates money simply by making a better use of the volatility that prevails in the financial markets, as we have discussed in our previous article. Fuad Ahmed explains that some investors consider it as a factor to worry about, however, others that are investing on a long-term basis are less bothered about the current dip as they are sure the cryptocurrency especially the bitcoin is going to go high above the present price up to 64,000 by the mid of this year.
Many experts are pretty confident, the cryptocurrency is in an evolutionary phase and will mature to be a place with depth for the investors.
Fuad Ahmed, reading the current scenario attributes a portion of growth to the institutional investors. He is of the view that the institutional investors when becoming participants in the market, they either take a plunge or wait until the product takes the proper hold and starts functioning itself.
As the year 2017 was coming to an end and bitcoin was losing the position it held throughout the year 2017, speculators assumed Ripple to be a new force replacing Bitcoin, however, some analysts like Fuad Ahmed himself and other analysts predict that the bitcoin market is going to regain its position and emerge as the power digital currency of 2018. It’s too early to say where the market is headed but the visible signs indicate that the bitcoin will resurge against all other currencies in the near future.
These investors are reading the signs that are possibly going to be seen in the next one year time, which is an imbalance in the supply and demand levels, which shows that the currency where is going to remain volatile, its also going to provide the investor with a great space for making money.
In the recent turn of events, investors witnessed a sharp fall in the bitcoin at a 70% rate, yet a great number of companies and firms along with financial experts are seeing the potential of bitcoin as going to be the ruling currency and touching new heights in the current year.
Where the investors have their own reasons to support the speculation, the creators of web-based stock programs are predicting the market trends and seeing the rise of bitcoin as an inevitable phenomenon. They expect a rise in the prices of bitcoin as more and more investors are beginning to invest in the cryptocurrency market, giving a boom to the Bitcoin which stands as the pioneer digital currency and carries the highest market cap despite the current falling prices.
“The current buyers of the world’s cryptocurrency are less than one and a half percent but the next cohort that’s coming in is thirteen and a half percent of the population”.
The market analysts including Fuad Ahmed say that the present percentage of buyers of cryptocurrency is less than one and a half percent, but the percentage is expected to grow and multiply this year.
With cryptocurrency and blockchain becoming known phenomena, the recognition of the technology is becoming evident too. The inclusion of various exchanges, option boards and institutionalized capital market along with technology development sector can make a great contribution to the hike in cryptocurrency price this year.
After all is said and done, the investors still seem disturbed by the thought that whether the bitcoin is going to sustain its position and give them the returns they are expecting from it or not. For these investors, that are not willing to enter the volatile market, the solution can be found in trading forex and stocks. Fuad Ahmed suggests these investors trade futures and options to remain on the safer side.
The current wave of declaring cryptocurrency illegal and many digital currencies being called a scam, the search engines like Google and social media site Facebook have banned the advertisements of cryptocurrency. This instance is going to trigger the need for an authentic crypto base, and will also urge crypto products to remain as original as possible.
The cryptocurrency is the new emerging sensation in the world these days, backed by blockchain, it has a promising future for many investors that are willing to try new options for trading and investment. Although the bitcoin is suffering a huge decline these days, the analysts believe it’s going to go high to an unprecedented price rate and change the economic order of the world. Fuad Ahmed as an analyst suggests his readers invest in the cryptocurrency especially bitcoin as according to him it will be ranging close to 65,000 in the coming future.