One way to look at Bitcoin’s future is to take a closer look at its past. The currency managed to survive a rather important hard fork this year, one that could have easily destabilized the currency’s value. This puts to rest a few of the concerns about scalability that the currency has, at least in terms of investor confidence. While more forks might be the future, the fact that the Bitcoin/Bitcoin Cash fork did not wreak havoc with the cryptocurrency has to be a mark in Bitcoin’s favor. If the coin can survive that kind of destabilizing incident, there’s a good chance it can survive in the future.
That’s not all there is to think about, of course. As Bitcoin continues to grow in value, it loses some of its ability to fulfill its primary purchase. Bitcoin already has huge problems when it comes to processing transactions, and now the volatility of the currency is making transactions even more problematic. If consumer confidence in using Bitcoin starts to fall, it’s possible that its attractiveness as an investment instrument will fade. If this happens, it’s possible that Bitcoin’s growth will either slow or begin to reverse itself over the next few months.
What’s more likely that any kind of slippage is a slowdown in growth. There’s a very good chance that Bitcoin’s current upward trend is not just because of interest in cryptocurrency, but because of speculators jumping into the market. If Bitcoin can keep these speculators interested and increase its cultural cache as an alternative investment, the current jump in price might seem small compared to what’s coming later this year. If Bitcoin falls out of the public consciousness, though, the upward momentum of the coin will begin to stall out as the year goes on. Growth may not stop entirely, but it may well slow down.
Will Bitcoin continue to rise in 2018? If it manages to overcome a few of its most glaring problems as predicted, there’s a very good chance that Bitcoin will continue to rise in value. If it fails to correct some of its problems or another cryptocurrency manages to solve those problems in a meaningful way, though, Bitcoin might be in for a bit of a fall. The most current signs do point towards at least moderate growth over the next several months, so it’s best to continue looking at Bitcoin as a currency and an investment that will continue to grow.