Predictions of price in any market are not always accurate. This is especially true for emerging markets like cryptocurrencies. It can be difficult to predict the prices of these emerging markets. Although Bitcoin (BTC), was forecast to see a correction in 2018, very few people expected it to lose more than 80% in 2018. Let’s see what stock is in 2019 Weiss Ratings has just released.
Although BTC fell from its 2017 high, the fundamentals of crypto in 2018 were excellent. While the adoption rate was high, some institutional investors such as the Citigroup and Morgan Stanley showed interest. Bakkt and Nasdaq both planned to launch crypto-derivatives in order to attract other institutional giants. Many countries have established regulatory frameworks that protect investors and open their doors to crypto.
– The digital gold
Weiss draws inferences based on their trend cycle model and their crypto coin rating system, which rate the assets in terms technology, risk, reward and adoption.
First, Bitcoin will be digital gold. BTC is the most valuable digital store of value because it can be stored at no cost, can be transferred easily, and it can’t be confiscated or seized by any government. Weiss believes that BTC will rebound stronger than it was in 2015.
Some believe the token is heading towards death. However, Weiss claims that the bear has not only cleared the market of newbie traders and weak hands. BTC will rise to new highs in 2019 thanks to those who believe in its long-term advantages and are still a part of the community.
Although specific names weren’t mentioned in the report, it predicts that certain altcoins will have a similar future.
“But, among them all, a few select few with superior technology will gain traction in real life with increasing adoption. They will eventually return to their highs.”
The creation of internet 3.0, a new type of internet, is expected. It will be based on a few cryptos like Cardano, EOS and Holochain. It is unclear why only these tokens were removed from the platform’s responsibility, while others like Tron, Neo and Iota seem equally worthy.
Weiss predicts most altcoins will fail and that a few new ones will emerge to challenge the existing ones and eventually make it to the top 10. Weiss also predicts that Ripple’s Stellar Lumens and XRP will disrupt the banking industry if they are truly decentralized. Although XRP may not be truly decentralized, it’s predicted that Ripple will replace SWIFT as the world’s most popular cryptocurrency.
Finally, the report claims that Bitcoin copycats are likely to disappear as there is no need for them. According to Weiss, Bitcoin Cash, Bitcoin SV and Litecoin are all included in the list of soon-to-be-dead coins.