If there’s one thing that’s certain, it’s that cryptocurrency has forever changed the perception of what it means to invest. While financial investment was previously rather inaccessible with a select few able to take their chances on the market, currencies like Bitcoin have managed to make the process much easier. However, the differences of these virtual coins is also a double-edged sword. The Bitcoin, Ethereum, and Ripple price have been all over the map, and recent downturns have called into question whether or not these currencies are here to stay.
While experts are divided in their opinion of what we’ll see from the Bitcoin price moving further into 2018, one thing we’ve learned about these cryptocurrencies is that it’s nearly impossible to get a good sense of where the market will trend over the coming year – or even over the course of a couple of days or weeks. We saw firsthand how quickly the market can rise and fall, with the Bitcoin price, Ethereum price, and Ripple price all skyrocketing over the course of less than a month near the end of 2018. Just as it rose quickly, cryptocurrency value across the board took a dive faster than anyone had expected. For long-time investors in cryptocurrency, the drop in these investments was to be expected just due to how they’re structured. The bevy of newcomers to the world of crypto were shaken, however, by the rapid drop in Ripple price after a meteoric rise.
As mentioned above, the accessibility of cryptocurrencies is a large reason of why they’ve been so successful. With anyone able to take a chance on the rising Ethereum price, a steady influx of cash has been poured into the market – raising the market cap of cryptocurrency as a whole into the hundreds of billions. However, those who buy into the hype of a rising Bitcoin price and extend themselves further than they should are often devastated when the market takes a downward turn – an occurrence which is merely a fact of life for those familiar with the way cryptocurrency functions.
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While the trajectory of the Ripple price has the potential to function a bit differently from the rest of cryptocurrency due to the fact that there’s a company behind the investment, almost every virtual coin has a value determined by speculation. Rather than being tied to the performance as in the case of a traditional stock, the Bitcoin Price, Ethereum Price, and the price of all cryptocurrencies can vary widely based off of current events – and even just rumors.
While the Ripple price has been all over the map, cryptocurrencies in general have seen huge growth over 2017 and certainly have the potential to due the same over 2018. Despite the fact that the Bitcoin price reached close to $20000 near the end of 2017, the current value of around $10195 is a near 777% increase from its price on the same day last year. When you put things in perspective, cryptocurrency might not actually be doing that bad in the grand scheme of things. The probability of value to increase is certainly high, but current events may serve to put a damper on the exponential growth of Ethereum Price and cryptocurrencies across the board.
The influence of cryptocurrency is undeniable. What had started as a niche project for techies has since exploded into the hottest topic in investment discussion. The Bitcoin price thrives based off of the lack of regulation, accessibility, and anonymity in the way that it is designed. Cryptocurrency got as big as it did largely due to the lack of involvement of governments and regulators, but that privilege is quickly changing.
A number of governments and other regulatory bodies are starting to recognize the dangers that investments like the volatile Ripple price pose to the financial industry and to uninformed investors. Leaked documents from China a couple of months back showed plans to more heavily tax cryptocurrency mining organizations that call the country home due to the low costs of electricity – the main concern when it comes to calculating cryptocurrency mining profit. China has proven inhospitable to cryptocurrency in other ways as well, taking action to close the biggest crypto exchange within the country as well as instituting a ban on initial coin offerings. Israel has also expressed concern over the volatility of these investments, with talks of potentially banning trading of the currency within the country outright pending an investigation from their financial regulators. All of these events have the potential to negatively impact the Bitcoin Price, Ethereum Price, and Ripple price moving forward.
Overall, it’s likely that Bitcoin, Ethereum, and Ripple are here to stay. Whether they will continue to grow exponentially, however, is currently up for debate. With no surefire way to determine what the future has in store, we’re sure to be in for a wild ride moving further into 2018.