The price of Bitcoin is difficult to predict as various factors impact the value of the digital currency.However, there are six major events that could lead to a surge in the price of Bitcoin in 2017.These include the activation of Segregated Witness, hereinafter Segwit, the  release of Lightning Network and Tumblebit, approval of Bitcoin ETFs, the financial crash and economic instability.Segwit, Lightning and Tumblebit are all scalability solutions initially introduced to facilitate larger amounts of transactions primarily to deal with the increasing user base and transaction volume of Bitcoin.By far, Segwit has the highest probability of being activated due to the support from wallet platforms, startups and miners.Bitnodes, a platform build by 21 Inc., states that 39.3% of all nodes are in support of Segwit.Once Segwit reaches its activation threshold, which would require the consensus of 95% of miners, it will increase the capacity of the Bitcoin network by at least 2.1x, according to the latest research from Alex Petrov of Bitfury.

A study of Whale Panda, which featured Petrov’s research read, “The actual size of a block under Segwit depends on the kind of transactions being included, however, the figure of 1.7MB was based on the average transaction profile in January 2015.At the time of writing in November of 2016, it would be around 2.1MB.” Lightning and Tumblebit will also scale the Bitcoin network but in methods dissimilar to Segwit.Instead of increasing the capacity of Bitcoin blocks, Lightning enables the settlement of instantaneous micropayments that are currently not possible to execute due to the settlement times of transactions.On top of enhanced scalability, Tumblebit will provide anonymity to Bitcoin users, offering financial freedom and privacy.The activation of these three major scalability and privacy solutions will play a vital role in increasing the value of Bitcoin as the network becomes more efficient and anonymous.Bitcoin ETFs or exchange traded funds are considered by many experts, businesses and investors as an important product that could introduce Bitcoin to the mainstream.

High profile investors and traders will be able to purchase and own Bitcoin through stock markets and regulated platforms.Currently, two Bitcoin ETFs are undergoing the approval process of the SEC.The Winklevoss Twins partnered with multi-bln dollar auditing and financial services firm State Street to help the SEC acknowledge the legitimacy of their ETF.SolidX ETF seemed to be making great progress until it was purposely delayed by the SEC again in September.Unlike the Winklevoss Twins’ ETF, SolidX provides insurance to its investors, which could appeal to a broader range of traders and firms looking to make safe investments on Bitcoin.Once these two Bitcoin ETFs are approved by the SEC, this would lead to mainstream adoption and investment from traditional investment firms as well as high profile traders.Global financial crash and economic instability will also lead to a surge in Bitcoin’s price.If governments and local authorities continue to impose heavy capital controls and impractical financial regulations, more individuals and businesses will seek out for alternatives like Bitcoin.

With high liquidity and transportability, Bitcoin will appeal to a wide range of users, particularly to people located in areas such as China or Venezuela that have strict cash outflow regulations.The following article represents the opinion of its author and does not constitute as investment advice.Bitcoin is a very volatile currency and you’re putting your capital at risk when investing in it (just like any other investment).2017 will be upon us soon enough, so it should come as no surprise that many bitcoin experts are looking ahead to the upcoming year.bitcoin nombre premierGiven that bitcoin has built in features to encourage its price to rise over time, and given the growing acceptance of both non-government currencies and digital currencies, there are plenty of reasons to be optimistic.bitcoin step by step epub

Understanding the anti-inflationary features of bitcoin is essential to understanding its price.Bitcoin’s price back in May weighed in at “only” about $450.In the run up to the new supply for mined blocks being cut in half bitcoin’s price began to rise, breaking the $750 mark in mid June.Bitcoin’s price has declined a bit since, but is still about $600, far higher than it was earlier this year.The Bitcoin reward for mining won’t be halved until early July in 2020.Regardless, the bitcoin’s price will likely continue to trend up through 2017.bitcoin japan scandalThis doesn’t mean that bitcoin won’t suffer setbacks, but the overall trend line will likely point up through 2017.bitcoin gambling diceJuniper Research, a respected research firm, predicts that bitcoin transactions will triple in 2017, reaching $92 billion dollars.bitcoin-1st indonesia

Juniper notes several factors that should encourage the increased adoption of bitcoin in 2016 and through 2017, including the fragility of the Chinese economy, the Brexit vote and on-going issues in Europe, including high unemployment and bad public finances, and numerous other issues.As national governments continue to struggle and the global economy is exposed to high risks, it’s likely that an increasing number of people will look to bitcoin and other alternative currencies/investments.bitcoin capitalizationBitcoin has taken on the mantle of a “safe haven” investment, due to the fact that it is free from government interference, and that supply is limited.bitcoin – emerging cryptocurrencyGovernments can increase money supply at pretty much any whim, thereby decreasing the individual value currency units.ethereum tuesday

Bitcoin’s supply, on the other hand, is already set and cannot be changed.If the global market grows more turbulent in the months ahead (which is quite likely), people may start ditching their traditional currencies in favor of bitcoin.This will lead to increased use of bitcoin, and as more people use the currency, demand for it will rise, and prices along with it.Daniel Masters, a co-founder at the multi-million dollar bitcoin hedge fund, predicts that bitcoin will hit $4,400 by the end of 2017.bitcoin rebuildMasters believes that bitcoin adoption will continue to increase, and more companies will accept it as payment.This increased adoption will be propelled investments in blockchain technology.Alan Donohoe, the founder of the Bitcoin Association of Ireland,  made a more down to earth prediction earlier this year, suggesting that bitcoin will rise to about the 800 pound mark.This would put bitcoin up above the $1,000 USD mark, a price point that bitcoin last approached (and in some cases broke) back in 2013.

SpectroCoin CEO Vytautas Karalevicius argues that bitcoin transactions will increase 10 times.If this proves to be accurate, Karalevicius believes that bitcoin will rise to about $1800 to $1900.This is based on the correlation between bitcoin turnover and price that we’ve generally seen so far.At the beginning of the year an analyst with Wedbush Securities, Gil Luria, predicted a price of about $600 in 2016.As of right now, Luria’s prediction is pretty much spot on as bitcoin has been trending at about $600 dollars over the past several weeks.Luria believes that bitcoin will continue to grow as a transaction medium, another prediction that largely appears to be correct.For 2017 Luria predicts that bitcoin’s price will once again double.In fact, Luria believes that bitcoin’s price will essentially double all the way up until 2025, which would mark an increase of 4,500%!If this prediction turns out to be correct, investors could generate massive returns.Vinny Lingham, the CEO of Civic, predicts that bitcoin could hit $3,000 in 2017.

Lingham’s predictions are especially notable because he’s made a name for himself by being willing to state contrarian views, and has accurately predicted drops in bitcoin’s price.Now, however, Lingham believes that the remainder of 2016 and 2017 will be very good years for bitcoin.Lingham’s prediction comes down to three factors.First, venture capital investments in bitcoin and blockchain technology have now topped a billion dollars, and as more companies invest, use and acceptance of bitcoin will likely increase.Second, a “short squeeze” may be forming as people who have shorted bitcoin may be forced to buy bitcoins to repay their short bets.Third, bitcoin will continue to enjoy natural inflation due to its limited supply.Lingham also suggests that an arms race could breakout as governments decide to start to buy up bitcoin.So far, most governments have shied away from bitcoin, but as adoption increases, they may get into the game.Go Many of the predictions made above are coming from people who have self-serving interests, and would benefit greatly if bitcoin suddenly increased dramatically.

While many of the experts may be making honest predictions, we can’t rule out that some may simply be trying to blow hot air into the market to heat things up.In some more extreme cases, “experts” have predicted that bitcoin could hit $35,000 or more in the near future.This, however, seems unlikely.By making such huge predictions, however, people can stir up the pot and maybe bolster markets, all while ensuring that their name gets passed around.Most experts are predicting that bitcoin will break $1,000 in 2017.This would mean that bitcoin’s price may actually double from where it is trading at right now.Such returns would present an extraordinary amount of growth.Such returns are also very plausible.There are several key factors at play.First, the global economy is on tenuous grounds, and bitcoin is a safe haven currency/asset.If the global economy does hit a rough patch, which is very plausible, then bitcoin and other safe haven assets and currencies will enjoy a boost.Second, many governments, including Japan and the Eurozone, have been engaging in quantitative easing.