A brand new yr means extra speculative cryptocurrency predictions. Many predictions final yr didn’t envisage the big bear market that characterised the yr, with Bitcoin dropping greater than 80 p.c. Weiss Ratings has revealed its outlook for Bitcoin and different cryptocurrencies in 2019.
Increased Adoption and New ATH for Bitcoin
According to Weiss Ratings, 2019 will herald elevated adoption for Bitcoin. The worldwide ranking company expects extra folks to contemplate the top-ranked cryptocurrency as a retailer of worth. The anticipated result’s BTC firmly establishing its standing as digital gold.
The forecast report additionally urged that BTC value 00 may attain a brand new all-time excessive (ATH) in 2019. This prediction comes from the obvious cyclical nature of Bitcoin value motion with main bear market declines adopted by new ATH.
Back in December, Bitcoinist reported on the decision by Weiss Ratings that costs reached a low sufficient degree for traders to load up on BTC.
2019: Year of the XRP Flippening?
Weiss Ratings additionally predicts a major yr for XRP 00 particularly in its pursuit of cornering the worldwide fee ecosystem. While figuring out the progress made by XRP and Stellar, the ranking company highlighted XRP as having the potential to compete with SWIFT.
Ripple spent most of 2018 extending its community of purposes associated to the banking sector, inking partnerships together with means.
For Weiss Ratings, XRP may on the again of elevated utility displace BTC from its perch on the prime of the cryptocurrency market capitalization chart. For a quick interval in 2018, XRP overtook Ethereum because the second largest cryptocurrency by market capitalization.
This forecast represents a shift for Weiss Ratings on condition that in 2018, the company stated BTC would lose 50 p.c of its market share to Ethereum. Indeed, a lot of the speak in regards to the “flippening” has virtually all the time been about Ethereum upstaging Bitcoin. However, the decline within the initial coin offering area appears to have negatively impacted such a chance.
Mixed Bag for Altcoins in 2019
As far as the remainder of the altcoin market goes, Weiss Ratings predicts a combined bag of fortune with some rising to prominence and others fade into obscurity. The ranking company says “BTC-like” cash like Bitcoin Cash and Litecoin are destined to fail as a result of absence of progressive use-cases for such cryptocurrencies.
On the opposite hand, initiatives like EOS and Cardano will usher in a paradigm shift in Internet know-how, giving delivery to Web 3.0. Also, Weiss envisages a shakeup within the prime ten rankings with new entrants akin to Holochain and Hedera Hashgraph.
Do you agree with the predictions talked about above? What are your cryptocurrency forecasts for the brand new yr? Let us know your ideas within the feedback under.
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