We have seen an unprecedented rise in the value of Bitcoin in the year 2017. With the increasing interest of media outlets in the value of Bitcoin, Bitcoin has been noticed by the public as well. Before that, Bitcoin was a phenomenon restricted to a specific segment of people.
Now that the Bitcoin has shattered the 11,000 dollars barriers, it is expected that a value correction might be on its way. On the other hand, some experts believe that due to an increase in demand the Bitcoin value will continue to rise and will ultimately reach $40,000 by the end of the year 2018.
See also: Bitcoin has become the 6th largest currency in the world by circulation
An economics expert, Panos Mourdoukoutas, has said that there are two events which can shatter the value of Bitcoin and bring it back to 1000 dollars.
See also: Sneaky websites are using your CPU for crypto mining even when you close the browser
While Panos analysis is important and has value, it must be noted that Bitcoin’s underlying technology is Blockchain, and the same protocol can be used to create other cryptocurrencies as well. We already have seen Bitcoin Cash, Ethereum, Ripple, Litecoin, Monero and other coins appreciating in value using the blockchain concept.
Read Also: How to buy Bitcoin in Pakistan?
So, if any of the above unfortunate events occurs the investors might flock to other cryptocurrencies and work towards their mainstream adoption as well.
Image – CoinTelegraph
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