The 2018 left a bitter aftertaste for many people who came into the world of Crypto after the hype of 2017 just to face one of the strongest bearish stripes in the history of cryptographic coins. However, 2019 promises a lot not only in terms of market capitalization but also for the evolution of the ecosystem.
In an article published today by Weiss Cryptocurrency Ratings, the team of the famous risk assessment company showed its perspectives on the future of cryptocurrencies, emphasizing that despite appearances, 2018 was disastrous only in terms of prices, but when technology treaty "It was also the year of great progress".
Regardless of price predictions, Weiss Cryptocurrency Ratings has shared with its subscribers seven technological predictions related to cryptology and blockchain technologies, and most of these are quite positive. The following is a summary of the article
Forecast # 1
Bitcoin will increasingly be used as a store of value.
For the team of analysts, the properties of Bitcoin make it easy, safe and efficient to store and transmit value among people. Currently, the team believes that there is no competition in this sense to beat Bitcoin, therefore "It's on its way to becoming a true digital gold".
Forecast n. 2
The price of Bitcoin will rise again and will head towards new historical highs.
Without providing specific figures, the analyst team kept the same argument that Stacy Herbert gave Max Keizer when he talked about a possible SWIFT replacement. In all the previous cases, after a bearish streak, Bitcoin recorded a strong recovery thanks to the fact that in those periods the development of quality platforms and solutions has increased significantly.
"In 2019, just as after the previous markets, Bitcoin will rise again and head towards new historical highs".
Forecast # 3
Select altcoins will rise from relative darkness up to 20 times their previous historical maximum.
Following in the footsteps of Bitcoin, some altcoins will gain traction and increase their adoption. The team believes it will not be as large a number as in 2017, but only a "Few with superior technology" will experience this bullish run.
Forecast # 4
A select group of criptos will compete to create a new type of Internet.
The Weiss Cryptocurrency Rating team stated that projects such as EOS, Cardano (ADA) and Holochain (HOT) could contribute to the development of a new paradigm on the Internet and all initiatives with similar objectives "Most will eventually fail."
Forecast # 5
Another selected group of cryptocurrencies will disrupt the banking world.
Unlike Keizer and Herbert, Weiss Cryptocurrency Ratings believes that Ripple and Stellar will play a leading role in optimizing and reforming the traditional banking system.
The team is also sure that Ripple's XRP "It could eventually become the number one cryptocurrency in the world".
Forecast n. 6
Bitcoin me-even coins will fade.
This is perhaps the only negative prediction within the list. The team was particularly critical of some Bitcoin forks (such as Bitcoin Cash and BSV) which they described as practically useless:
"Many cryptocurrencies are about to disappear for the simple reason that they bring virtually nothing new to the table.
Even among the top 10 by market capitalization, several adapt to this description, including Bitcoin Cash, Bitcoin SV and Litecoin.
There is no innovative use case for them. They will probably fade over time. "
Forecast # 7
New coins will reach the first 10.
The team believes that there will be a major shift in the global market capitalization with new players such as Holochain, Hedera Hashgraph and other cryptocurrencies that are currently not so popular. This is consistent with the previous behavior of the whole ecosystem with projects that fail or decrease in popularity and others that emerge when the community becomes more familiar with their technology