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Pricing for Bitcoin and cryptocurrencies can always be met with some degree of skepticism. A market correction was expected last year, but very few had predicted that Bitcoin would have lost more than 80% in 2018. Weiss's ratings have just released their forecasts for next year and are extremely bullish.
New ATH for Bitcoin
Starting from the fact that 2017 was an exceptional year for crypto investors and 2018 the exact opposite of the forecast attempts to predict what is in store for 2019. The fundamentals for the crypt in 2018 were extremely good despite the divergence in price action. Many countries have opened their doors to cryptographic and regulatory frameworks to protect investors who have been launched around the world.
Weiss's predictions are based on the model of their trend cycles and on their coin encryption model that classifies activities in terms of risk, reward, technology and adoption. The first prediction is that Bitcoin will become digital gold because it costs nothing to store, it can be easily transferred, it is very secure and can not be confiscated by any government or regime. BTC is therefore considered the best value digital store.
Looking back at previous bear markets in 2015, when Bitcoin lost a similar amount, Weiss predicts that BTC will recover stronger despite so-called experts repeatedly writing its obituary. In a large bear market, most of the weak hands and newbie traders have moved away as technology believers and long-term investors are accumulating more. As a result Bitcoin will rise again to reach new historical highs in 2019.
The Altcoins become extinct as the new ones are born
Some of the altcoins are expected to rebound to earn 20 times, but the report will not mention the specific ones; "But among these, a select few with superior technology will gain traction in the real world with increasing adoption, and will eventually return to their all-time highs."
A new type of Internet has been planned, built by some cryptographers like EOS, Cardano and Holochain mentioned. As they conclude these three will be the forerunners of greatness is a mystery when there are many others such as Ethereum, Tron, Neo, Iota and Icon that do similar things with the web. The creation of Internet 3.0 is the goal here, but Weiss expects that most of the altcoins will end up "failing". It also predicts that a number of new ones will enter the fray and will arrive in the top ten.
It is expected that Ripple's XRP and Lumens will interrupt the banking world, but this will only be possible if they are truly decentralized, the former is not. Regardless of this, Weiss predicts that if Ripple can replace SWIFT it will become the world's leading cryptocurrency.
Finally, he states that a number of Bitcoin scripts will vanish as there is no real need for them. Included in this list of coins that will soon be dead according to Weiss are Bitcoin Cash, Bitcoin SV and Litecoin.
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