Analysts predict Bitcoin price recovery after terrible start to 2018

Right now it’s hard to have a conversation about Bitcoin or crytocurrency in general without also looking at the falling price so far 2018. Since the start of January, the coin has dropped by more than $10,000, which has people understandably worried.

But there’s good news, as the experts are still predicted that Bitcoin will not only recover from these lows, but also exceed the highs seen at the tail end of 2017.

Michael Jackson, Bitcoin expert and former COO of Skype, told The Independent: “The price has been driven by speculators and they suddenly got cold feet but there’s considerable effort going on behind the scenes, including new underlying technology that is powering faster transactions.

“Meanwhile, regulators seem open-minded and are now working to eliminate the risks for consumers. So I see no reason why bitcoin shouldn’t fulfil its dream. And if it does then recent price falls will appear trivial.”

As with anything as complicated and dependent of so many ariables as cryptocurrency’s value, sometimes it’s a case of self-fulfilling prophecy. As Jackson notes, speculators have a large influence on the value of what they’re speculating on, and so the recent dips may not be a long-term problem once regulation and other changes come into play.