Based on the news, bitcoin might hit $50000 by the end of 2018. Is this possible? If so, what are the reasons?
Bitcoin will go passed 50k. It's literally meant to happen, and big institutions are going to make it happen. Short time investors making a quick buck will sell to new whale who will hold. Bitcoin itself will become more scare. By the time there is under a million left to mine bitcoin can realistically be worth even 1M, and be used for big money transactions. That's the future of bitcoin. The mega wealthy always have a way of taking control of something powerful, and making it unrealistically powerful. Soon only the mega wealthy will hold bitcoin if new investors keep these weak hands they are displaying.