Crypto Experts Issue 2019 Predictions on Value of Digital Assets: ETH, ADA and XMR Favorites
Cryptocurrency Experts Issue Predictions on Value of Digital Assets
After enduring a rather disappointing 2018, the bearish trend of digital currencies is almost ending. According to projections, the value of Ethereum (ETH) and Cardano (ADA) is expected to treble in the next 12 months. Likewise, the value of Bitcoin and privacy coins will most likely increase by a significant margin.
The predictions mentioned above were published in a report compiled by crypto experts for Finder.com, a price comparison website. The report indicated that most of the most valuable digital currencies (in terms of market cap) will most probably experience an increase in value as form next month until the end of 2019. Only Litecoin (LTC) is the notable exception among the popular cryptocurrencies.
Ethereum and ADA – The Biggest Potential
As mentioned earlier, Ethereum and Cardano have the highest potential price increase rates, standing at 300% over the next one year. In fact, ADA is expected to grow by 159% before the end of the year. Regarding Ethereum, there was a disparity on the long-term price of the cryptocurrency with predictions ranging from $500 to $1,200. Joseph Raczynski, an Ethereum bull who expects the value to hit $1,200 by Q4 2019, attributed his projection to the popularity of Ethereum’s proof of concept among institutional investors. He also added that the network has the largest developer community. On the other hand, Alisa Gus expects the value of ETH to be just $500 by the end of 2019. She thinks that the network has to improve on certain issues before the coin can rapidly grow in value.
The value of Monero (XMR) is expected to double by the end of 2018. Similarly, the experts anticipate a 62% increase in the value of Bitcoin Core before the year ends. Next year, the price of Bitcoin will slightly surpass its record high of $20,500, according to the predictions.
Although Bitcoin Cash (BCH) is almost similar to Bitcoin Core, its performance is not expected to match BTC’s. Nevertheless, the projected growth rate is a respectable 42%. Litecoin, however, is expected to drop in value by 3% by the end of next year. Joseph attributed the projected decline to the lack of clear use case for the virtual currency in the real world.
The Adverse Impacts of Bitcoin ETFs
Additionally, the report indicated that the bear market will persist until the end of 2018. This is because of the impending decision by the SEC on Bitcoin ETFs. After this issue is settled, the price of digital currencies is expected to pick up. Concerning this, Jon Ostler, the CEO of Finder.com, said that the anxiety surrounding the SEC decision is adversely impacting the price of various digital assets.
The recent price surge of the Ripple (XRP) token is expected to fizzle out soon. This is because the coin is incapable of meeting the high expectations of the market that come as a result of increased value.
Predictions Are not Guaranteed to Happen
Now that 2018 is in its final stages, some of the predictions made at the beginning of the year have not come to pass. Back then, the aftereffects of the 2017 bullish run motivated people to make unrealistic projections, with the most outrageous being a trillion-dollar market cap for Bitcoin. The bearish trend has undoubtedly sobered up the market, and the predictions given above have a high probability of happening. Nevertheless, they still remain to be projections. It is worth noting that the value of digital currencies is determined by several market factors, with the most significant being supply and demand.