Bitcoin price has outperformed every reserve and fiat currency across the world year to date, yet again. By outperforming the US dollar by over 30 percent, Bitcoin surpassed the growth of the Mexican Peso, Silver, Gold and Russian Ruble to become the best performing currency so far in 2017.
Thus far, 2017 has been a successful year for both Bitcoin investors and alternative cryptocurrency (altcoin) traders, with leading altcoins or crypto assets such as Ethereum achieving a $5 bln market cap in early April. The Bitcoin market, however, experienced some major changes in its ecosystem earlier this year. The major driving force of Bitcoin price in 2017 is suspected to be the resolution of the Bitcoin networks current scalability problems.
The Bitcoin networks one MB cap on block size is causing Blockchain congestion, a drastic increase in fees at times and long confirmation times. If Bitcoin scalability issues are addressed within this year, with innovative solutions such as Bitcoin Cores Segregated Witness (SegWit), Andrew Lees Extension Blocks or other potential emerging solutions, Bitcoin price will most likely demonstrate an exponential mid and long-term increase.
Would you invest in BTC this year?
I think it's too late to invest in bitcoin. Since the price of one coin is too high and no one knows what will happen tomorrow.
Lol, it's not too late as long as you've planned to hold bitcoin for long term, if current price at $1460, then in the next year it could be $2400 and 5 years later bitcoin price could reach $5000. At that time, you may say ; I think it's too late, I hope I have invested in bitcoin 5 years ago when its price around $1400.