Bitcoin Price Prediction for 2017

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Over the last month, in a series of volatile swings, the price of the cryptocurrency bitcoin rose to a record high — then plunged to less than half that value.

The abrupt changes have inspired comparisons to the dot-com bubble, and underscored the extremely speculative nature of investing in cryptocurrency. Some speculate the recent slide was due to fear over regulatory crackdowns on the cryptocurrency market. Cryptocurrency trading hotbed South Korea has suggested a ban on trading might be possiblethough the country has not yet finalized any plans.

Similar reports recently circulated about China. The anxiety over anticipated crackdowns may have helped trigger a selloff across the cryptocurrency market Tuesday. The largest and best-known of hundreds of digital currencies, bitcoin is a decentralized digital currency that is bought and sold in exchanges internationally.

And its value floats against other currencies the same way the dollar and the euro float will bitcoin price drop towards the end of the year each other. Users say it's got this very effective system for verifying transactions," NPR's Uri Berliner reports. And they say that's a good thing.

But the recent price fall may not be a good thing for investors, who are still trying to figure out what the crash means for the future of the cryptocurrency. Many other digital currencies have shown similar swings in recent days. When they collapsed, investors We see similar characteristics in cryptocurrencies right now. Bitcoin investors know this trend as well. Investors saw a similar rise and fall in bitcoin prices in December And there have been dramatic rises and falls in the price of the cryptocurrency within the last year.

It tripled its value within months — then, by the end of the year, tripled again. You might make a profit, but what we are seeing is people who — in the last month or two — put money into bitcoin, are having trouble getting cash back when they sell will bitcoin price drop towards the end of the year are now watching the price fall and panicking.

Will bitcoin price drop towards the end of the year shower this morning after looking at my portfolio during this crash. Some say that bitcoin shows promise. Economists aren't so sure. Some analysts believe that the cryptocurrency might be trying to find a temporary price floor, but Citigroup analysts think that the price of bitcoin could plummet again to half of its current valueCNBC reports.

And then I think it will probably crash. But I don't know how much — you know, how far down it will decline. Accessibility links Skip to main content Keyboard shortcuts for audio player. The Two-Way There are hundreds of digital currencies worldwide. The price of the largest, best known one just plummeted by 50 percent. Now, investors are watching for a boom — or a bust. Facebook Twitter Flipboard Email.

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Why has bitcoin price been rising? It is almost impossible to find a clear reason s for this question, but a lot of global political events, bitcoin network modifications and economic conditions could be attributed to the flourish of bitcoin. According to the Global Risks Perception Survey GRPS , election of Trump, the Brexit and the rise of populism represent the biggest geopolitical risks facing global economic growth and reform in The SegWit implementation was a major event that took place in , signaling the birth of a better bitcoin.

We can plot a Gann Angle Placement now between the low recorded on 15th December, and the high recorded on the 16th of August, , to predict bitcoin price in the future. As noted on the chart, bitcoin price has just crossed above the 1 x 1 Gann angle, so we expect it to drop a bit below the level of this angle, before it continues rising again.

Candlesticks are currently tangential to the upper Bollinger band, which reflects that bitcoin is more or less overbought, so it will most probably drop down towards the middle Bollinger band where the market would be more stable.

Even though analysis of the charts denotes that we are ahead of a downwards price correction wave, it also shows that it will continue rising shortly within a few weeks, as we approach the end of the year. Spam is discouraged by the community, and may result in action from the cheetah bot.

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Some tips to share content and add value: Linking to your source Include your own original thoughts and ideas on what you have shared. If you are actually the original author, please do reply to let us know! I believe it will crash by the end of the year. You have completed some achievement on Steemit and have been rewarded with new badge s: For more information about SteemitBoard, click here If you no longer want to receive notifications, reply to this comment with the word STOP By upvoting this notification, you can help all Steemit users.