Bitcoin, although the first currency in the market, is one of the rare assets that doesn’t actually have an official dev team.
That means that there are no pending updates, revisions, or changes being performed regarding some obvious shortages that BTC network seems to have.
Bitcoin (BTC) Price Today – BTC / USD
One of such shortages is reflected in a questionable scalability of the largest cryptocurrency as BTC transactions are getting slower as well as more expensive, making it pretty non-practical when it comes to sending small amounts of BTC to other addresses.
Nevertheless, Bitcoin is still managing to keep the place of the top crypto, which means that it surely holds a great potential regarding its value in the market.
None of the currencies have ever reached a record price of 18,000$ unlike BTC, which might mean that there is a strong possibility that Bitcoin will get closer to its record price once again.
Will Bitcoin go up and what is the faith of BTC in the next following months?
Can Bitcoin (BTC) go up By the Beginning of 2019?
Frequent decreases in the market seem to be killing the general buzz that most crypto enthusiasts have had at the end of the previous year of 2017.
This is most probably the case because many cryptocurrencies have significantly dropped since December of 2017 and January of 2018, including Bitcoin that lost over -66% of its total value in the market since mid-December of the last year.
Previously trading at an all-time high of around 18,000$ per one BTC, now being valued at under 7,000$ with occasional price boosts that drove BTC up the value of 7,000$ several times during the last couple of months, there is a strong possibility that Bitcoin might grow further in the following months, possibly breaking the resistance of 7,000$ in case of the price spikes up.
In the most recent market rebound on October 15th, Bitcoin was seen up by 5% in the course of the 24 hours, rising up against the fiat with the rest of its peer in what seems to have been a mass rebound.
However, only a day later, probably as a consequence from a mass sellout that might have taken place after the spike, BTC is seen close to 0%, dealing at the value of 6,618$.
In case the last year’s hype around New Year repeats, which might be more likely the case, Bitcoin might at least break through the value of 7,000$ while going towards acquiring 8,000$ based on the current trends and the last year’s mass spike, that way retrieving at least a portion of its lost value.
What might be the biggest concern regarding BTC is the fact that there are no frequent updates of the network, while posing as a rather expensive blockchain-based tool for transacting monetary value.
However, the potential of Bitcoin going up still poses as a strong possibility by the end of 2018 and the beginning of 2019, as it still represents one of the top investments in the blockchain space.