Bitcoin aficionados got an unexpected Christmas gift from the universe this year when bitcoin prices suddenly dropped below $13,000 last weekend then buoyed back up to around $15,800 by Wednesday morning. Many tokens across the cryptocurrency market fluctuated along with bitcoin, such as litecoin and monero. Veteran traders saw this as an opportunity to “buy the dip,” or stock up on digital loot .
Most experts predict bitcoin prices will continue to oscillate wildly in 2018. Financial analyst Ronnie Moas, founder of Standpoint Research, reportedly predicted bitcoin prices will hit $28,000 in 2018. Julian Hosp, co-founder of the cryptocurrency startup TenX, told CNBC he expects bitcoin will fall as low as $5,000 this upcoming year yet also soar as high as $60,000.
Bitcoin veterans tweeted holiday warnings for newbies to remember the context of bitcoin’s price changes.