AUCKLAND, NEW ZEALAND / ACCESSWIRE / February 9, 2018 / Fueled by last year's tremendous rise of Bitcoin, the world's most established cryptocurrency, which took a volatile growth course from $900 at the start of the year to a little under $20,000 by December 17, the cryptocurrency market, currently with over $600 billion market capitalization, is looking to grow even further in 2018. As the popularity of Bitcoin and various altcoins - alternative cryptocurrencies launched after the success of Bitcoin - continues to increase, Abacus-international, a leading broker market of CFDs, shares its prognosis on what the current year holds for the new technologies.

On November 27, 2017, Mike Novogratz, a billionaire trader with over 30% of his net worth currently invested into cryptocurrency, predicted Bitcoin price to reach $10,000 before the end of the year. As it turned out, Bitcoin outperformed his estimate by nearly 100%, reaching $19,974 on December 17. This exhibits the grand potential of the technology and explains why various industry experts including Novogratz refer to it as digital gold. "When I try to think of valuation, Bitcoin really has taken the use case of digital gold. Although it would need to increase another 30 to 50 times to reach parity with gold capitalization, I can't see why it won't get there." Novogratz also predicted the total crypto market cap to reach $2 trillion by the end of 2018, a 330% increase over its current level.

With such ambitious market growth projections, the number of cryptocurrency investors is expected to rise accordingly, notes Abacus-international. Perry Woodin, the CEO of Node40, a blockchain governance and cryptocurrency tax compliance company, said that "2018 will be the year when every friend and relative will want to know how much you have and how to purchase it". A research by London Block Exchange, UK's first and biggest cryptocurrency exchange, revealed that by the end of the year, over 50 million people worldwide would be holding at least one cryptocurrency, and one in three millenials will invest into the market. Japan's widespread adoption of Bitcoin, with over 260,000 food venues and retail stores accepting it as payment, will set a precedent for other countries. Furthermore, the decision to launch Bitcoin futures and options contracts on traditional stock exchanges CBOE (Chicago Board Options Exchange) and CME (Chicago Mercantile Exchange) put Bitcoin on par with assets like precious metals, energy resources and government bonds. As the acceptance of the new technology continuing to escalate rapidly, new and seasoned investors alike could be looking at explosive gains by the end of 2018.

Abacus-international is an award-winning, leading broker market of Contract for Differences, offering CFDs on stocks, indexes, currencies and commodities, and specializing in the trading of financial products in Over the Counter (OTC) and organized stock markets. Based in New Zealand, the company provides its institutional and retail clients with technologically advanced trading platforms to achieve successful investments. With over 200 financial instruments and 10 platforms, the firm's customers can be found in 180 countries throughout Asia, Latin America, Europe, Africa and the Middle East.

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Abacus-international - Discusses Positive Outlook for Emerging Markets: https://www.nasdaq.com/press-release/abacusinternational--discusses-positive-outlook-for-emerging-markets--20180207-01713

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SOURCE: Abacus-international