Roger McNamee, the co-founder of Elevation Partners and Facebook investor, thinks that the year 2018 will be a make or break year for Bitcoin. There is a lot of hype around Bitcoin at the moment. If it lasts for the year 2018 and makes some gains, then it is here to stay.
McNamee feels that the cryptocurrency can become legitimate if it sees good gains in 2018. Bitcoin is a small fish in the largest financial market. If it survives for one more year, then it could become a genuine currency. It has to keep the investors in its grasp as long as possible to enjoy acceptability.
There is a lot of activity surrounding Bitcoin. People are willing to invest huge dollars to buy Bitcoins. But, still, Bitcoin is a new phenomenon to a lot of investors.
McNamee feels that Bitcoin could see big swings, both up and down, in 2018. What happens to it after these swings will let us know if it is here for the long run or not. He says that it is too early to write off Bitcoin as a legal currency.
Bitcoin had gone down by 8.4 percent to $14,087.93, but rallied back to hit a high value of nearly $20,000 in November.