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The Weiss Ratings guys have published a new report that cites some of the reasons they are very optimistic about their bitcoin forecasts for 2019 or other cryptocurrencies going into 2019. In particular, Weiss Ratings is examining the general trends of market, looking in 2018, which was a total disaster for the price of cryptocurrencies, but when we start looking at the general picture of the crypto economy, the price is a metric and although the price is important no doubt, many things are happened; more users, more investments in the sector in general. One of the biggest trends in 2018 was the slowdown of the ICO utility market as utility tokens did not prove so useful after all, unfortunately. The Weiss Ratings team calculated their forecasts of bitcoins for 2019 by observing market cycles and also their particular valuation models that seek to identify coins with a combination of risk, reward, technology, adoption, etc. With that said here are the bitcoin forecasts and forecasts of Weiss Ratings together with the thoughts of the writer:
1. Bitcoin will increasingly be used as a store of value:
Bitcoin will be used as a store of value because bitcoin costs practically nothing to store, extremely efficient transport and, of course, it is very safe. It can not be confiscated by any government and in reality no other good provides that kind of security or those particular unique properties when it comes to it.
Bitcoin is surprising when it comes to cross-border payments, storing wealth, even though in 2018 we had a decline of 8%, but this does not affect people who bought bitcoins in 2016 or 2015 and still hold.
2. Bitcoin will reach its new historical high in 2019:
Weiss Ratings focuses in particular on the analysis of previous trends and on how the bitcoins have had important chases followed by intense corrections and 2019 could be the year in which we could attend another run-up.
Understanding that markets move in cycles and the future may be very different from previous cycles, but it is likely that it will not be as different as many people might want to think it will be. All the people out there asking bitcoin to clear the point on the whole idea of this technology. 2018 may have been a good year in terms of being able to free some of the tourists who were here just for quick games and not for technology or the broader movement or industry as a whole and those tourists will come back when the new historical maximum begins. They will be the ones who will buy bitcoins from you when their over $ 20,000. The foundations for the next bullfight have been laid.
3. Select Altcoins will rise from the darkness relative to the new historical highs:
An important thing that they mentioned here is & # 39;a selected group of altcoins'. There are some incredible altcoins in the market without a doubt. As for some utility tokens, for example, remember that they are startups and 90% of startups fail. These utility tokens may not be as useful, may not have a network, and if there is no network, there is no utility, so utility token assignment may disappear and exchange tokens will probably continue to be incredibly popular.
4. A select group of cryptocurrencies will reach a maximum limit of trillions of dollars:
In particular, cryptocurrencies focused on building the Internet of the future can reach a multi-trillion dollar market capitalization.
We need a more sustainable and fair Internet that is resistant to censorship and takes power from large companies that have taken over the Internet. The internet of the promises of the years 90 and the internet of today's reality are two very different things. It was very difficult to predict in the years 90 what could have become of the Internet. Many new interesting things are developing.
5. A select group of cryptocurrencies will begin to destroy the banking system:
A select group of cryptocurrencies, in particular Stellar Lumens and XRP, will begin to destroy the banking system.
With this prediction and the fourth forecast, we are not sure that this will happen in 2019, perhaps we will see the beginning of this event and these are long-term trends that we are looking for 2020 and beyond to see I see really great upheavals that happen in terms of something like XRP or Stellar Lumens that overturn the current banking order to the extent that they can. Perhaps we can really see SWIFT, for example, warned by XRP. It seems that XRP and SWIFT are the biggest competitors among them and if banks actually start using XRP they could be very large.
6. Bitcoin Me-Too coins may vanish:
The alternative versions of bitcoins will be very difficult to keep going. So much damage has already been done to the Bitcoin Cash and Bitcoin Satoshi Vision communities for example and others like Bitcoin Gold or Bitcoin Diamond do not even have a large community to mention. The recent drama behind the secret pre-mine of Bitcoin Private, etc. Bitcoin knockoffs will continue to struggle.
7. The new coins will skyrocket in the top 10:
Maybe even coins like Litecoin that actually the Weiss rankings have included Bitcoin Knockoff or Bitcoin Me-too in its category that is an interesting thing to see but maybe litecoin will be eliminated from the top 10 by the new chains that advance even if not many people are talking about these at the time, but not many people were talking about most things before they became the next big thing.
What are your bitcoin forecasts for 2019 and your opinions on Weiss Ratings forecasts? Tell us your thoughts in the comments section below.
Disclaimer: The following article is not a financial advice. Describes the writer's thoughts on bitcoin forecasts and cryptocurrency predictions and not on coinnounce.com or its associates. Readers are invited to do extensive research and analysis before investing or trading in any digital resource such as bitcoins.
