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The downward trend could be near the end for cryptocurrencies. Good, at least for some of them. New forecasts suggest that Cardano (ADA) and Ethereum (ETH) will triple in value in the next year or so, with private currencies and Bitcoin (BTC) also expected to see sharp price increases.
A panel of nine experts compiled a report for the Finder.com price comparison website. They gave forecasts on the top ten of the major cryptocurrencies by market capitalization. Most cryptocurrencies are expected to increase in the next month, with all Litecoin (LTC) expected to grow significantly until the end of 2019.
ETH and ADA are the big winners
Experts saw the greatest potential in the Ether and Cardano platform tokens, with price increases of + 300% over the next 14 months. ADA tokens saw the fastest increase in the short term, with a 159% increase by the end of the year.
Although the report predicted that Ethereum would approach the $ 400 by December, the group was divided over its long-term potential; the forecasts ranged from $ 1,200 to just $ 500 in the fourth quarter of 2019. Joseph Raczynski, who has a bullish forecast for next year, said: "This is one of the best positioned of all cryptocurrencies on the market, almost all large organizations use it to test their own POC [proofs-of-concept]. They have more developers than any other organization. Still, I think this is one of the best long-term games of all. "
"I want to see him do well, but he will have to show a significant improvement with the imminent upgrade to stay competitive," said Alisa Gus, who predicted that ETH will reach $ 500 in the next year.
Even the Monero private currency (XMR) worked very well. The report described it as "The silent giant" and he expected it to double by the end of the year. The panel expected a 295% increase by the fourth quarter of 2019.
Bitcoin was also one of the main beneficiaries of the relationship. A 62% increase by the end of 2018 would lead to an increase in the total value of BTC of about $ 70 billion. The forecasts of the panel for the fourth quarter of 2019 would rise above the record level reached in December of last year, with each coin worth just over $ 20,531
Despite many technological similarities with BTC, the experts did not see many positive changes for Bitcoin Cash (BCH), which would increase by 42%. Although Litecoin would increase by 6% by December, the panel forecast a 3% decline by the end of the fourth quarter of 2019. "I like this, but it makes no sense to me" Raczynski said. "I have not seen any use in the real world that resounds yet."
Bitcoin ETFs are reducing the market.
The report states that a bear market should continue until the end of the year. The short-term performance of the selected currencies would be hindered until the SEC, the US financial regulator, takes a decision on the funds traded on the Bitcoin exchange (ETF). Prices will recover once the application has been put to rest.
"Cryptocurrency is currently a bear market, with our participants' BTC forecasts for the end of 2018 declining for the third consecutive month in a row", said Jon Ostler, British CEO of finder.com. "The issue of the Commission's awaiting decision on securities and trade in the United States is still in the minds of our experts, citing the decision as the main indicator of short-term performance and predicting that it will influence the market for the months to come. "
The panel also claimed that the recent price increase in the XRP token would be short-lived. The report predicted a decline in value of 8% in both October and the last quarter of this year. Many experts say they are skeptical that the token can meet market expectations and assessments.
A cryptographic prediction is a forecast
As 2018 draws to a close, some of the forecasts made at the beginning of the year seem unlikely. The forecasts for a capitalization of one trillion dollars have been made during a period of unusual euphoria among investors.
In a more sober market, these new forecasts may turn out to be more accurate. Some details sound true. The report was inspired by the real use cases for private currencies, which other research has suggested. The SEC's decision to delay the ETF decision has halted the start of an upward trend in mid-August. With little idea of how the governor would go, uncertain traders and investors are keeping investments away.
These are predictions, however. As Ripple's CEO, Brad Garlinghouse, said during his Swell meeting this week: the demonstration will be in the pudding.
The author is invested in BTC and ETH, which are mentioned in this article.
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