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2017 was the year of bitcoin currency. Not only bitcoin but altcoins also become popular last year. Investors who are staying away from bitcoin currency because of its high volatility and uncertainty are now moving their investments to other altcoins. Some of the most popular currencies are Ethereum, Litecoin, Ripple etc. All altcoins works more or less like bitcoins, but each of this altcoin has its own unique feature. Because of these unique features these altcoins will rock in 2018.
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Bitcoin is the best way to invest your money and earn continuous good returns. Bitcoin figures has shown this from last two and more years. In December 2016, bitcoin was near $1000 by the mid of December 2017 it has crossed $19600 mark. No currency in history has risen too such an extend in such a short span of time. Bitcoin investors have earned a lot in this period. By the end of 2017 bitcoin again rolled down to $12600. Now it has started raising again, this is the best time to re-enter in bitcoin market. Like last year 2028 will be a great year for bitcoin investors.
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Taxes are the only and main source of income for many governments of the world. One of the main reason for bitcoin`s popularity is avoiding government tax. Bitcoin is an autonomous currency, as no third-party is related to bitcoin, no one can trace your transactions except user and the receiver. You will face no problem until you are using bitcoin currency for trade or transaction purpose. But once you try to convert it in fiat currency you will come under income tax net. Income generated from bitcoin currency is taxable in USA, India and in many countries irrespective status of bitcoin. Bitcoin income is considered as capital gain and taxed thereupon. For your safety always pay taxes.
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Bitcoins limited supply and ever growing making it more and more volatile. This volatility is pushing its price higher and higher. Volatile currency markets are always liked by speculators. Some traders believe and like to invest or trade in volatile currencies. These traders are the major market movers. If we have bitcoin a stable price by removing volatility from it, its price will become stable and in that case no one will invest in bitcoin. Bitcoin`s increasing price is attracting common investors towards it. If this rise in price stops or get stable, it may reduce bitcoin`s popularity. But this will never happen now or in future.
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Government, Central bank and many economy experts are completely against cryptocurrencies. We have bitcoin exchanges in our country. People are trading regularly and earning money. My country have nearly 14% bitcoin traders. Still Central bank of my country is issuing warnings from time to time against use or investment in bitcoin currency. Use of bitcoin is illegal in my country. Government is considering investment in decentralised, digital currencies as most risky trade. In future they may ban bitcoin completely or will regulate it.
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Bitcoin is a decentralised and most volatile currency. It is quite difficult to predict anything about its price. Due to limited supply and growing demand bitcoin price is increasing regularly. In this case the best time & policy of buying and selling is, Buy whenever bitcoin price falls and sell when it grows. Bitcoin price varies sharply with huge difference. Sometimes this difference is more than 15% a day. In such case there is always risk of suffering heavy losses. Bitcoin traders works 24x7 they buy on every fall and sell on every rise.
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Bitcoin as a cryptocurrency will change attitude of people towards currency market. Digital currencies are completely new tool introduced recently. Bitcoin will not change everything but, income generated from it will definitely help people to change their lives. But still bitcoin has not reached to all class of society, many people are still away from the benefits of bitcoin. Bitcoin and bitcoin related activities are giving opportunities to its investors and its users an opportunity to earn money. Bitcoin is doing this since from its origin.
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Bitcoin has bright future, though after touching $19000 mark bitcoin price is falling down, its just a correction. Such corrections are expected after such a rise in price of any currency. For bitcoin investor every fall in bitcoin price is an opportunity to grab more and more bitcoins. Crypto experts are predicting new targets for bitcoin currency. Bitcoin has already achieved the targets set in the past. So instead of spending we must save more & more bitcoins, for good returns in future.
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Bitcoin is the most volatile currency. It moves sharply up and down in %. So its investor must have strong heart and warm pocket. So it is risky to encourage or convince someone to invest or trade in such currencies. Generally people don’t have enough information or knowledge about bitcoin currency, so it is quiet difficult to convince. From last two years bitcoin price is rising continuously, after touching $19000 it has settled around $14000. At such price it is not possible to common investors to invest in bitcoin currency. So they are keeping distance from bitcoin currency.
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Bitcoin is not successful or popular as a currency. It is more popular as an asset or investment. People have confidence and trust on it as a good return giving investment. Digital currencies needs some infrastructure setup. Fiat money is the most flexible, convertible and easiest tool setting a transaction. That is why still today every country has its own physical currency. Fiat currencies centralised nature affecting those who are dealing in currency markets not to those who are using it in day to day transaction. So we rather use paper money than bitcoin currency.
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Launched in 2015, ethereum is the second best option in digital currency market. Its price just touched $850 mark. It has become the rising star in just two years. Ethereum has potential to rule cryptocurrrency market, it can become next bitcoin. Some countries are against bitcoin currency, they are banning and regulating bitcoin currency over security issues. If anything happens to bitcoin currency then ethereum will be the best option for crypto investors. Bitcoin price has gone put of reach of common investors, they are searching something simile like bitcoin currency. For them also ethereum is a good option.
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Bitcoin`s current price is $15812, in our currency its price is Rs.10, 00,000/-. Its quiet big amount for any citizen in my country. If i convert that bitcoin to fiat currency i will be taxed by the tax department. Bitcoin have bright feature, though bitcoin price is coming down now a days, they will definitely go up. So someone gift me one bitcoin, instead of selling i will keep it until the price become double.
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Bank of Indonesia have put a complete ban on bitcoin currency from 1st January, 2018. Bank Indonesia head of transformation Onny Widjanarko said the regulation on e-money would be issued in the near future. He further appealed to vendors and merchants not to accept Bitcoin transactions stating that it would not be held responsible for any losses incurred. According to Indonesian government bitcoin is largely used in illegal activities like terrorism, money laundering, prostitution, and drug trafficking in their country.
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After touching $19000 bitcoin has settled around $14000 mark. Save or sell is a question then saving is the best option. If you see bitcoin`s progress from the last two to three years, bitcoin investors have earned good return on investments then its traders. Bitcoin is a long term asset/investment. Bitcoins down rolling seems over now; the investors who have booked profit are aging started investing back. As a result bitcoin price will start rising again. So by keeping in mind bright future it is always better to save now.
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Bitcoin price is at $14500 where as Ripple is at $3.76. Ripple share is around 19% where as bitcoin`s share is around 50%. How comparison is possible. It is impossible for ripple to overtake bitcoin by any way. Bitcoin have more transactions/ movements as compared to any cryptocurrency currently operating in the market. Ripple is a centralised currency so it may get manipulated or influenced by regulating authority. Bitcoin is a decentralised currency, no third party interference is possible, and because of this people are investing in bitcoin currency.
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Originally bitcoin a cryptocurrency was introduced to reduce or eliminates problems faced by common people while doing cash transactions and banking operations. It posses all the functions of a good currency. It has quiet less settlement time and charges. But due to lack of knowledge and specific hardware required for doing day to day trade bitcoin use as a currency get restricted. Its limited supply and growing demand is pushing its price up regularly. As a result more and more investors getting attracted towards bitcoin. Bitcoin is the highest return giving investment. It has given its investors far more than they ever expected. Its more popular as an asset than a currency.
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Like 2017 bitcoin will be a year full of excitement and good opportunities of earning money. But bitcoin or cryptocurrencies are volatile in nature. No one can firmly say anything about them, only predictions can be made. Many countries are planning to ban or regulate bitcoin currency. If these countries get succeeded in regulating bitcoin, then bitcoin may lose its charm and confidence of its investors. If government bans bitcoins completely it will create panic among its investors.
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Cryptocurrencies are good tools of investments. Bitcoin has gone out of reach of common investors. If you want to invest for a long term then altcoins are good option. Altcoins works similar to bitcoin. Their price movements are also same. Altcoins possess almost all features of bitcoins and their prices are far less than bitcoin so they will be a good tool of investment. If you have money and have wish to take risk then bitcoin is the best cryptocurrency to buy today. They will definitely have you good returns in future.
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