To bring you the best content on our sites and applications, Meredith partners with third party advertisers to serve digital ads, including personalized digital ads. Those advertisers bitcoin price prediction tracking technologies to collect information about your activity on our sites and applications and across the Internet and your other apps and devices. Most bitcoin enthusiasts believe market prices are actually the least interesting data point about this cryptocurrency.
On the other hand, many cryptocurrency traders now make their living by leveraging short-term volatility. They often find traditional market factors don’t apply to cryptocurrency. A lot of the cryptocurrencies are correlated amongst themselves. Even Twitter feuds and arguments on Reddit can impact public perception of this emerging asset class. You were able to look at Korean trading volume being a market indicator for future price increase. It’s definitely less so now, so it is unclear if that still holds. You’ll get huge dislocation in price from exchange to exchange.
There aren’t really good ways of arbitraging those out. IBT conducted a poll from Jan. 25-30 of more than a dozen finance experts to get their end of February 2018 bitcoin forecast. Many speculators see price drops or stagnation as a sign that the dreaded “bitcoin bubble” is about to pop.
However, cryptocurrency veterans often see the hype settling down as a positive indicator that several more years of growth lie ahead. Sometimes slow growth can be a very healthy thing for development. Bitcoin is a relatively young technology, less than a decade old. It is steadily moving towards mainstream adoption. Yet the bitcoin network still makes up a miniscule fraction of the economy. Few experts would recommend people with scant expendable income invest exclusively or heavily in bitcoin. Price predictions can offer an interesting intellectual exercise as long as speculators remember literally anything can happen in these uncharted waters.