That’s not too surprising, given that the price of Bitcoin doubled from the low $230s to over $480 in just over a month, from late September to early November. And while the Bitcoin pricehas settled back to about $380 over the past week, it’s still about 64% higher than it was six weeks ago.
Ten predictions for 2016
- Bitcoin companies with just one business line will increasingly become disintermediated by those that offer multiple services.
- Investor clamour for all things blockchain will return full circle as blockchain start-ups begin to partner with more established bitcoin businesses.
- Sadly more bitcoin business will close or consolidate.
- Bitcoin adoption will continue to move slowly forward – mass consumer adoption is still in the future.
- The relationships between banks and bitcoin business will begin to thaw as more sophisticated bitcoin compliance solutions come to the market.
- We will see fewer and fewer pure bitcoin start-ups – those that already exist now have too much of a head start.
- Bitcoin legislation will begin to evolve at a faster pace and will help give the sector added credibility.
- There will be more fraud related to altcoins.
- Investment in the sector will plateau until consumer adoption dramatically increases.
- The price of bitcoin will remain relatively static around the $200-$300 range.