Bitcoin price has outperformed every reserve and fiat currency across the world year to date, yet again. By outperforming the US dollar by over 30 percent, Bitcoin surpassed the growth of the Mexican Peso, Silver, Gold and Russian Ruble to become the best performing currency so far in 2017.
Thus far, 2017 has been a successful year for both Bitcoin investors and alternative cryptocurrency (altcoin) traders, with leading altcoins or crypto assets such as Ethereum achieving a $5 bln market cap in early April. The Bitcoin market, however, experienced some major changes in its ecosystem earlier this year. The major driving force of Bitcoin price in 2017 is suspected to be the resolution of the Bitcoin network’s current scalability problems.
The Bitcoin network’s one MB cap on block size is causing Blockchain congestion, a drastic increase in fees at times and long confirmation times. If Bitcoin scalability issues are addressed within this year, with innovative solutions such as Bitcoin Core’s Segregated Witness (SegWit), Andrew Lee’s Extension Blocks or other potential emerging solutions, Bitcoin price will most likely demonstrate an exponential mid and long-term increase.
Would you invest in BTC this year?
For me, it's yes that 2017 is one the best year of investment in bitcoin especially we see good price in the market and I know that bitcoin reaches its first all-time high price. I always set my mind that I need to invest in bitcoin because I know it will become more valuable in the future. I still doing investing in this year and I do not have any plan to stop in invest and I keep on investing as long I earn huge amount of money. Lastly, even bitcoin still face new bear market I still invest in it.