Cryptomania hasn’t even started yet!

Despite the fact that bitcoin is experiencing bad times and has fallen by 70% in the last 7 months – many experts believe that cryptocurrency is in its infancy, and its subsequent development may lead to it’s wider spread.

The HYIP around cryptocurrency has just begun and has not even come close to the degree of fever, “said David Sapper, the operating director of the Australian Blockbid exchange.

“HYIP around bitcoin and other cryptocurrency is just beginning. Only 1% of the world’s population owns a cryptocurrency and monitors the news of blockchain technologies and investments in cryptocurrencies. I think that in the next one and a half to two years, cryptocurrencies will become more widespread, “he said.

Sapper noted that future catalysts can again cause a high level of excitement in the market. After the news about lifting the ban on advertising cryptocurrency in Facebook, some confidence returned to the market, which in turn led to an increase in the price of bitcoin, – writes anycoin.

“The market of cryptocurrencies is a very young industry, and with the correct legislation and regulation, cryptocurrencies will become a part of our daily life. As technology improves, interest in virtual currencies will increase and we will definitely see their wider application in the future, “summed up Sapper.

The head of the financial portal ADVFN Clem Chambers believes that bitcoin will return to $ 20 thousand, and in the future can reach a much higher level – $ 100 thousand, – reports е.press.co.uk. Chambers noted that there is a shortage of real money in the world, and cryptocurrencies fill this vacuum.

“Blockchain will be the road to the future – the same as the Internet was for the previous generation. Bitcoin may be part of this future in the long term. Will it return to his previous records? There is a possibility that it will fall to $ 2,000 before reaching $ 20,000. But will it reach $ 20,000? I think yes. Will it reach $ 100,000? I think it’s likely, “said Chambers.

Chambers is not the only one who maintains an optimistic attitude towards bitcoin. Thus, co-founder of the BitMEX Arthur Hayes predicts a rise in the price of BTC to $ 50 thousand by the end of 2018, while he does not rule out an even larger drop, to $ 3,000, before the cryptocurrency begins to rise to new heights.

Check the article by Jeremy Oles, to find out the possible reasons for the price drop.