The price of bitcoin could still experience a huge growth this year, despite the decrease registered by the cryptocurrency in the past few weeks. According to some market analysts, the price of the cryptocurrency could still hit $50,000 this year.

Cryptocurrency market to reach $1 trillion by the end of 2018

So, not only that the price of bitcoin could suffer a high growth, but the cryptocurrency market could also reach an impressive value, up to $1 trillion by the end of 2018. The prediction was made by experts according to CNBC.

The time when these predictions are being made is quite curious, as the price of bitcoin has suffered once again a fall, this time registering a record low for 2018, dropping below $6,000. This was the lowest value of the bitcoin since mid-November. Of course, the famous digital currency managed to regain some ground and its price grew to $7,000 yesterday, while today it managed to go a bit over $8,000.

However, it seems that market experts don't believe that bitcoin will be impacted on the long term by price drops. Thomas Glucksmann, an executive of cryptocurrency exchange Gatecoin, said: