Bitcoin’s Pump Set for Primetime in 2019, but Ethereum (ETH) and Ripple (XRP) See Sky High Optimism
No one could deny that the crypto markets are suffering now. 2018 is about to end and the situation of the crypto market is dire. From its value of over $700 billion USD, the market is only slightly upward of $100 billion USD now. Despite the tough time that the market is facing, though, some experts are very optimistic about the future and they believe that 2019 can actually be quite good.
Ethereum World News has recently published an article that defended the idea that both ETH and XRP will have a great 2019. The article affirms that, after the Bitcoin crash that happened in August, when the prices dropped for unseen levels in the year, most big altcoins have been pushed down but there is space for a change next year.
According to Mike Novogratz, the billionaire investors who founded Galaxy Digital, the year was simply horrible for the people involved in the market. There was, according to him, plenty of reason to be depressed with the effects of the bear market.
However, Novogratz, as any crypto evangelist, has also found out reasons to be excited for 2019. According to him, the blockchain will be more widely adopted in other areas like gaming and finances.
Because of this fact, Novogratz is thinking that a big adaptation will happen in the next two years and that a lot of value will be constructed in the blockchain within the e-gaming space.
With news that Facebook is thinking about creating a stablecoin for its WhatsApp platform and that the company is targeting India, there is plenty to be excited about happening with the market now. Despite the fact that the Fed has recently affirmed that it does not want to develop its own national cryptocurrency anymore, the market is simply far from abandoning cryptos.
Facebook could push cryptos into the spotlight for once and for all and this would push the prices up and catalyze the interest of many other sectors that were not so interested in the blockchain technology until this moment.
The Future Of ETH
The CEO of BitMex, Arthur Hayes, has already pointed out that the interest in stablecoins is very big at the moment and, because of this, more people could be interested in Ethereum.
Despite the fact that Ethereum has lost most of its value this year and that the token has fallen behind Ripple’s XRP, ETH could face a new revival in case the ICO landscape makes a return or if stablecoins based on ETH get popular.
According to Hayes, Ethereum will rebound from its losses and, in 2020, its prices will be big again. The main problem that Ethereum faced was that the market was flooded with bad teams and ideas.
The ICO market was so unsuccessful because there were too many teams that only surfed on the hype to make easy money and did not deliver good products but this might change in the future. A lot of fraud and theft also happened and now people are wary of investing in ICOs, which directly affected ETH.
The Future Of XRP
Another token that may have a lot of success over 2019 and 2020 is XRP, the Ripple token. Now, the token sits at the second place in the market capitalization. Ironically, the article described, the token is ending up with people excited for the following year, something that also happened in 2017.
This time, however, people believe that the future of XRP is more solid. The Coinbase listing, which never actually happened, seems more likely for 2019 and Binance is also thinking of using XRP as a base pair in its exchange.
While the potential of XRP might not be as big as ETH immediately, the product of the company is not bad. Ripple will continue the development of its cross-border remittance product and try to make more partnerships to secure the future of the company.
The future of both companies can be actually quite exciting now, so we just have to wait to know if the promises will finally be fulfilled in 2019 and the crypto market will shine again.