As cryptocurrencies are becoming a more common topic of discussion nowadays, many wonder about their future:
Which crypto-assets are going to be around for a long period of time?
Which ones are to lose or gain importance?
Which ones are good for long-term or short-term investments?
Well, let’s discuss 4 predictions about cryptocurrencies!
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Bitcoin will hit a new all-time high this year
Since December 2018 BTC reached from $3200 to $9000 growing more than twice in 6 months. Hence, it is safe to say that cryptocurrencies are currently in a bull market and, according to some predictions, in November Bitcoin (BTC) will reach $20,000 or $1,000,000 in 2020.
Of course, these predictions might seem too optimistic or even silly to many. However, there is no doubt that cryptocurrency prices are growing rapidly.
To keep an eye and be updated on Bitcoin price ups and downs, you can use online Bitcoin price checkers.
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Ripple: The Bitcoin Killer
In the early years of Bitcoin, it was one of its kind and was extremely technologically advanced for the time. Now, 10 years later, as many new and better crypto-assets emerge to the scene daily bitcoin, despite being the biggest crypto-asset, doesn’t seem to hold the interest of many.
So there’s one more question left:
What’s the next big crypto?
Well, for many crypto enthusiasts it’s Ripple (XRP) and there are many reasons as to why.
Firstly, Ripple, with a market cap of $16 billion, is the third largest cryptocurrency leaving ahead only Bitcoin (BTC) and Ethereum (ETH). This makes Ripple a very safe investment since frauds are nothing new in the world of crypto.
Moreover, Ripple is the first crypto-asset which achieved adoption by financial institutions, including MUFG, BBVA, SEB and many more. In the near future Ripple may replace the SWIFT system, which has been used for international transactions worldwide for 45 years now.
On the other hand, the list of investors for this crypto coin is also very impressive containing Google, Andreessen Horowitz, and many more famous companies and individuals. This only shows the huge potential of Ripple.
You should definitely add Ripple to the list of coins to follow on your crypto tracker.
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Cardano: An up-and-coming star
Speaking of another cryptocurrency with great potential for success, Cardano is a project designed to shift the way crypto-assets are developed. This cryptocurrency was launched in 2015 and in the last four years has made its way to be one of the top ten crypto-assets.
What’s so special about Cardano?
For starters, the CEO of Cardano, Charles Hoskinson, is also the co-founded of Ethereum (ETH), which is currently the second largest cryptocurrency in the world. This proves Cardano to be a reliable crypto coin.
Cardano also executes smart contracts; however, compared to Ether, it is much more scalable, faster and is the only secure Proof-of-Stake coin so far.
All in all, Cardano, combining its team and great technology, has a bright future ahead and is definitely one crypto to watch.
Other cryptocurrencies to watch for are BlueCoin and Bytom.
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Institutionalization
For many years a large problem for cryptocurrencies remained the acceptance (or the lack thereof) by the mainstream institutions. In the early days, many crypto critics expressed that crypto coins won’t be accepted by anyone. However, it’s safe to say now that many companies have taken a large interest in crypto-assets with Amazon, Google, and Microsoft among them.
As crypto shifts from being a speculative asset class to one with real underlying value, it opens doors to many new and interesting projects to come and make an impact in the world of technology.
To summarize, there are many predictions on crypto assets. However, speaking from past experience we can definitely say that nothing is certain when it comes to crypto coins.
Remember that the correlation between the Interest on cryptocurrencies and its price growth is unquestionable and the interest has just started rising.
