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A new year means more speculative predictions on cryptocurrency. Many forecasts last year did not provide for the huge bearish market that characterized the year, with Bitcoin losing more than 80%. In 2019, Weiss Ratings published its forecasts for Bitcoin and other cryptocurrencies.
Increased adoption and new ATH for Bitcoin
According to Weiss Ratings, 2019 announces greater adoption for Bitcoin. The international rating agency expects more people to consider top-level cryptocurrency as a valuable store. The expected result is that BTC firmly establishes its digital gold status.
The forecast report also suggested that the price of BTC 00 it could reach a new all-time high (ATH) in 2019. This prediction stems from the seemingly cyclical nature of Bitcoin's price action, with the largest declines in the bear market followed by the new ATH.
Back in December, Bitcoinist reported on the Weiss Ratings call that prices have reached a level low enough to allow investors to upload to BTC.
2019: year of the Flippening XRP?
Weiss evaluations also provide a significant year for XRP 00 especially in its quest to hoard the global payment ecosystem. Identifying the progress made by XRP and Stellar, the rating agency has shown that XRP has the potential to compete with SWIFT.
Ripple spent most of 2018 extending its banking-related applications network, tightening partnerships and way.
As for Weiss Ratings, XRP could count on greater utility move BTC from its perch at the top of the cryptocurrency market capitalization chart. For a short time in 2018, The XRP has passed Ethereum as the second largest cryptocurrency by market capitalization.
This forecast represents a change for Weiss evaluations since in 2018, the agency said BTC would lose 50% of its market share in Ethereum. In fact, most of the talk about "flippening" has almost always involved Ethereum that has overshadowed Bitcoin. However, the decline in the ICO arena seems to have had a negative impact on this possibility.
Mixed bag for Altcoin in 2019
As for the rest of the altcoin market, Weiss Ratings predicts a mixture of luck with some that rise to the fore and others vanish in the darkness. The rating agency states that "BTC-like" coins such as Bitcoin Cash and Litecoin are bound to fail due to the absence of innovative use cases for such cryptocurrencies.
On the other hand, projects such as EOS and Cardano will introduce a paradigm shift in Internet technology, giving life to the Web 3.0. In addition, Weiss plans a reorganization in the top ten positions with new entrants such as Holochain and Hedera Hashgraph.
You agree with the above provisions? What are your cryptocurrency predictions for the new year? Let us know your thoughts in the comments below.
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