[Translation] How high will Bitcoin rise in 2017?

The Bitcoin market in 2017 still seems dominated by bullish forecasts.

There are many aspects of position-talk, but even if the long-term trend is solidly rising, in the short term it is common to move up and down repeatedly. Whether trading or investing, it’s wise to employ technical analysis and maintain proper risk management.

Also, there seem to be many impulsive/reckless contrarian types, butif you are not a whale, that pattern will lead to ruin eventually, so you might want to be careful.


Now, read the translated article.

How far will Bitcoin rise in 2017?

One of the factors that propelled Bitcoin is the fact that government-issued currency is becoming even more unstable.

2016 was a wonderful year for Bitcoin. It became the currency with the world’s best performance. However, in 2017 so far, it has shown movements more like a roller coaster.

It rose by 20% and then fell by 35% afterward, with further rebounds. In this situation, what phenomena will occur this year? Will Bitcoin break its all-time high, or drop to new lows?

As one of the factors supporting Bitcoin, government-issued currency is becoming even more unstable. Through demonetization in India and Venezuela, people were declared that the banknotes they hold are effectively worthless.

Because of this, Bitcoin, which does not depend on any independent government, rose as a better investment target. Severe inflation might also lead people to consider Bitcoin as a new option, and could encourage more companies to adopt Bitcoin as a payment method.