Since its start in 2009 Bitcoin has been faced with some major challenges. Instances of continuous hacking attacks, exchange companies becoming bankrupt, street protests, major arrests, thefts, complaints from Wall Street executives among other. This is cases that have seen Bitcoin under threat not forgetting the gravity-defying price that’s moving towards $19,000 this month. This strange cases may make market very boring to potential investors.
Bitcoin traders have defended the price surge, but they must be paining secretly about the major price correction. Even to that, there are other people who are secretly regretting not to have bought the currency long time ago. With now Bitcoin going mainstream people will continue wondering why the thought of investing in the currency never happened a long time ago.
Bitcoin continues to become better especially with the new milestone of Bitcoin futures that were launched by CBOE on Friday. The futures launch will be a good act of legitimizing the cryptocurrency. This also shows that Wall Street is working hard to bring every type of investor on board. There is high hope that futures will help tame the unpredictable vitality of the cryptocurrency price.
This price swings like the swing of $2,000 noted last week could end. The calm is however not expected to come immediately it may take some few months. This will make the digital currency start looking like a proper currency. But this is not likely to come easy it will come with its own challenges.
According to the chief Strategist at Lombard Odier Investment Managers: “We are now using a complicate financial machine that was created over 15 years ago. The problem may be fitting it to something that people are still questioning about. It looks interesting and fancy but I think its reckless.”
Many other people are predicting that the price of Bitcoin may still go up before bubbling. The crush has been predicted by major financial institutions to the extent of scaring some potential investors. With all the talk being about Bitcoin people may get used to the extent that they no longer want to hear any more. When the currency becomes boring people may not care about investing in it anymore which may lower its prices.