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Last year was a rough one for the financial sector, even when considering the unprecedented growth of the euro. With the first month of the current year nearing its end, the market is ripe with predictions regarding all forex fields. And Bitcoin is still the star of the show. So, what does the future hold for cryptocurrency trading?
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More Regulation
According to CNBC, one of the major points of interest in Bitcoin’s future in 2018 will be the enforcing of more and more regulatory practices by global governments. This movement was ignited back in November 2017 when China, one of the world’s biggest spots for cryptocurrency traders, banned this activity altogether.
Yet, the market wasn’t destabilized just yet. Investors quickly moved their activities offshore to other Asian crypto powerhouses such as Singapore, Hong Kong,and South Korea. But then another devastating blow followed when the latter announced its intentions to follow in China’s steps. Needless to say, people were furious.
Traders went as far as starting an online petition to stop the ban, and it immediately gathered more than 200,000 signatures. The country’s financial regulator then decided not to go to this extreme, but ban anonymous trading instead, as well as that performed by both resident and non-resident foreigner. Thus, Seoul’s days as an offshore crypto paradise were over for good.
Global governments quickly warned to follow suit. And 2018 will be the year when they finally do it. This will bring a definitive price drop along with it, but also a lot of newfound stability. Once all the necessary laws are outlined, proposed and enforced, Bitcoin and its fellow cryptos will finally be able to enjoy a period of serenity and smooth sailing.
But should you go into online forex trading for beginners just yet? If you were to ask the experts in the field, you couldn’t get a clear answer. The last few months brought a lot of conflicting opinions on the future of cryptocurrency in the financial sector, so let’s see what they are.
Conflicting Opinions
Even if you’ve recently become interested in this market, you most likely know what big-time investors have to say about cryptocurrencies nowadays. Between J.P. Morgan’s CEO calling them a fraud and Warren Buffett predicting an unsavory end to this entire story, there isn’t much room for hope, at least not when you read popular media on the topic.
However, there are optimistic experts out there as well. For example, Kay Van-Petersen, the Saxo Bank analyst who predicted that Bitcoin will rise past 2,000 dollars per unit when it was still going for 900 dollars, now says that the cryptocurrency will reach never seen before values of 100,000 dollars in 2018.
It’s easy to see that these statements are sheer opposites. So, what should we make of it at the end of the day? Unfortunately, it’s hard to say. The best way to ensure that you still gather profits from cryptocurrency trading is by analyzing trends and coming up with your own predictions.
Base your decisions on your own knowledge and understanding of the market. Don’t let what others say influence you because that will be your downfall as a trader. Even if you make mistakes, you need to own them as being your own instead of relying on blaming the opinions of others.
Final Thoughts
Investors and traders should proceed with caution in 2018 when it comes to cryptocurrencies. It’s way too early to tell what the market will look like in just a few short months. Our best bet thus far is to wait and see the outcome of all the announced laws being enforced. Until then, always make decisions based on cold, hard knowledge and know when to sell
About Carson Derrow
