Bitcoin
If 2017 was the year of boom for Bitcoin and other Cryptocurrencies, then 2018 was certainly the year of the bust and it’s a downward trend that certainly looks to be continuing into 2019. Following a near $20,000 price in December 2017, prices are currently slumping towards $3,500 with no signs of improvement seemingly on the horizon.
In a report via PCGamesN, however, an investment group CEO believes that Bitcoin might be set for another boom as major changes to the currency should happen within the next couple of years.
Things Can Only Get Better?
The CEO of the deVere Group, Nigel Green, has indicated that although he doesn’t believe it’s guaranteed, there is more than a little evidence to suggest that the price could spike again over the next 12-24 months. His thoughts on this are largely based on two factors. The first is due to a long-awaiting algorithm change in the currency mining which is predicted to occur in May 2020. The second is that the SEC (Security Exchange Committee) is making more and more overtures to effectively ‘legitimising’ the currency.
What Do We Think?
It is, of course, entirely possible that Bitcoin could make a comeback. It is somewhat ironic that with it being the best known, it has experienced some pretty remarkable highs and lows. This, despite many other currencies doing relatively well or at least consistently better. We do, however, doubt that the 2017 mining-craze will return any time soon.
People tried it. In fact, people flooded to it. Low and beyond though, there were no overnight millionaires. Too many came far too late to the party. If you did, however, want to start your casual mining again, it might not hurt. The only difference is that for the vast majority, this time around you’re playing the long game rather than jumping on the bandwagon.
What do you think? Did you mine any cryptocurrency? Did the Bitcoin crash make you stop or are you still doing it? – Let us know in the comments!
If SEC rubber-stamps and gives all go ahead signal, banking mafia (hedge funds) will jump to crypto in a jiffy. It’s not like hedge funds have to worry about economy, their only work is cheating and inflating market prices while selling 5 seconds before market crash.