Bitcoin is consistently rising like no other cryptocurrency brand, but Why is that, and what can we Expect for 2018?
Everyone has heard of Bitcoin more than any other cryptocurrency brand, so of course, most of the interest is going there in the first place, but many people now see Bitcoin prices at an all-time high and doubt that there are still significant profits to be made. Most cryptocurrency traders feel this way, and many new investors are thinking the same too, and yet Bitcoin continues to shock the world with incredible price increases.
According to Bitcoin investor and author of “Diary of a Bitcoin Millionaire“ Tom Manning, there is a simple explanation for this.
In the last six months, global interest for cryptocurrency has increased seventeen times, and Bitcoin is searched fourteen times more than cryptocurrency. In fact, as of October 2017, Bitcoin is Google’s highest searched word of all time. Millions of people are signing up and boarding the cryptocurrency money train, and the whole cryptocurrency index is expanding from the constant influx of dollars, Euros, and pounds.
The Cryptocurrency Gateway
The majority of the new money first enters the cryptocurrency world through Bitcoin, since Bitcoin is the gateway currency for all of the most popular cryptocurrency exchanges. Once the new account is funded with Bitcoin, investors then begin to browse the index looking for investments that have the potential for a higher rate of return. Finding something better than the constantly increasing Bitcoin is easier said than done, so much of the original investment stays in Bitcoin. Investors slowly identify other potentially profitable currencies such as Ripple that are still below $1.00, and they then shift some of their funds.
Tom says “Most investors see the continuous rising of Bitcoin and tend to keep 30-50% of their funds in Bitcoin and just monitor the other currencies.”
This behaviour means 70% of new money gets scattered across the cryptocurrency market slightly boosting the prices of dozens of other currencies. Bitcoin alone holds the remaining 30% of the new funds.
We are seeing dozens of other currencies rising slowly, and we are witnessing the constant rise of Bitcoin. Given that this behaviour is also typical for existing investors who are injecting small amounts into crypto on a monthly basis, it becomes very clear why Bitcoin is still rising. It’s also clear that we can expect Bitcoin to continue its rise in 2018.
So Is Bitcoin The Better Investment?
Although the rises are practically guaranteed, Bitcoin is not really the way to go for new investors. If you were to invest $1000 in Bitcoin and hold for the prices to go from 10,000 to a mind-boggling 20,000, you’d still only make $1000 in profit. If you’re looking for the big payday, then you’re looking to invest in a cryptocurrency before the prices go crazy. This means sifting through the thousands of coins hoping that you move your funds to the right one.
It can be infuriating to watch your brands remain flat line while others rocket up, but there is a way to forecast cryptocurrency prices, and it has proven to be most effective in 2017. Tom Manning explains this incredible forecasting method in his first Book titled “Diary of a Bitcoin Millionaire.”
The diary is a blow by blow recount of an early Bitcoin investor and has very interesting insights into the struggles that most of us never imagined. Tom includes verifiable dates and prices showing just how effective the forecasting method is at predicting price spikes days and weeks before they happen.
We checked to see if the forecasting method still works and saw amazingly accurate predictions for Bitcoin Cash and several others that we would never have considered to be good investments.
With 2018 all set to be the biggest cryptocurrency year ever, we highly recommend you read Diary of a Bitcoin Millionaire and test the forecasting method for yourself. Cryptocurrency prices are constantly rising in general, and the sooner you convert your traditional currency to cryptocurrency the better. Start forecasting straight away, and then sit back and watch as 2018 takes our expectations to new heights.