The Upcoming BTC Rollercoaster

The Upcoming BTC Rollercoaster

By | 2017-12-19T22:08:38+00:00 October 26th, 2017|Tags: , , , , , , , , |

It appears Bitcoin may go through a “roller coaster” phase with high volatility likely coming up. This is due to several factors, but one of the main factors are the hard forks coming up with Bitcoin Gold and Segwit2x taking center stage. In addition to this many countries have recently announced regulations, which are largely common sense regulations to be placed on the Bitcoin. Whilst other countries have announced deregulation and reform in the way the Bitcoin is perceived. This has led to the Bitcoin going through a volatility and thus the roller coaster phase.

In addition to this some exchanges will stop trading during this phase which has further heightened volatility as people will not be able to exchange coins during a period of time. The Bitcoin will likely face a short term sell off as the current price has already dropped to around $5500 in anticipation of the hard fork. Although not likely but possible, we could see a short term fall to around the $5000 mark, which could entice investors to buy the Bitcoin at a bargain price. Such a theory is backed up by the opinion that many investors maybe looking to sell off their Bitcoins in the short term to buy again at a cheaper price, thus making a quick tidy profit.

In addition to this certain Governments such as the United States and Russian Governments have both announced regulations to be placed on the Bitcoin, which again has cast a cloud of uncertainty. However recently the Russian Government did state that they would not place any unnecessary legislation on cryptocurrencies and fintech technology so in order not to inhabit its growth, realizing the potential of such technology as the future. Thus clearing some uncertainty and also with the USA stating their main objective from regulations was to target criminal entities that use cryptocurrencies and again not the coin itself.

However their is also positive news on the Horizon with countries such as Australia, Malta and Asian countries such as Japan have all announced reform in the way they see Bitcoin, with Australia planning on killing the double tax and other countries competing to become the next cryptocurrency or blockchain powerhouse.

Conclusion

So in conclusion, despite many recent factors effecting the Bitcoin being announced, in the long run the Bitcoin price is expected to continue to rise. A lot of the short term issues are not expected to have any serious repercussions long term as all the issues the Bitcoin faces can be resolved fairly easy and in an uncomplicated manner. With regards to the hard forks, many Bitcoin doomsday analysts predicted the Bitcoin would split when Bitcoin Cash was released but that did not happen. One can only safely assume people will trust a trusted coin over a shady coin and will continue to march forward with the Bitcoin.

//