Bitcoin bulls think the cryptocurrency will push higher — with one suggesting it could crack the $60,000 barrier — while bitcoin bears think it will crash and burn. Regardless of which end of the spectrum investors stand on, however, there’s no disputing the phenomenal rise in the digital currency, which rose more than 1,000 percent in 2017.
Ahead, bitcoin is expected to become increasingly adopted and will likely face more regulatory scrutiny and competition in the cryptocurrency space.
More traditional asset classes have also run up in the past year.
Equity markets globally recorded robust gains in 2017, with the Dow Jones industrial average climbing 25 percent and the S&P 500 rising nearly 20 percent. The new year could see stocks rallying further on the back of corporate tax cuts stateside.
On the commodities front, oil is in focus after U.S. crude futures settled above the $60 mark for the first time since mid-2015 on the last trading day of 2017. Oil prices have risen in the past year on indications the oversupply in global oil markets is tightening.
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