- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
With what is safe to call a rough year, especially for crypto investors, crypto enthusiasts are on the look for what the future holds for them and their dear kingdom, the Cryptoverse. Fortunately, Weiss Cryptocurrency Ratings took the time to carefully curate what we can call 7 crypto forecasts for the year 2019 and beyond.
The agency curated these predictions from two models. The Cycles Model which functions by estimating the timing of major market trends and the Ratings Model which is designed to spit out crypto coins with the strongest combination of risk, reward, adoption, and technology. Using these two models, the agency predicted the following:
Bitcoin will Continue its Winning Streak as the Only Efficient Store of Value
Bitcoin is predicted to continue to thrive as a store of value because it is unarguably the only crypto coin which possesses portability, high-level of security, and immunity from government confiscation.
Bitcoin Will Achieve a New ‘High’ in terms of its Pricing
Like other times after a bear market, the Bitcoin price is predicted to bounce to a peak which would be the highest it has ever been since the advent of the coin.
A Number of ‘Superior’ Altcoins will Gain Traction in the Real World
Altcoins have spent a greater part of their ‘life’ in obscurity. Very little is known of them and much less is heard of them. But Weiss Ratings has it that some of these coins with superior technology will gain traction in the real world in 2019 and beyond. They will achieve a new ‘high’ which could be as much as 20 times their all-time highs.
More Crypto Groups will Feature in the Ongoing Fight to Create Internet 3.0
The competition between crypto coins such as Holochain, EOS, and Cardono will get fiercer as more crypto groups would feature in the competition to create a more secure and sustainable worldwide web dubbed Internet 3.0.
A Crypto-Backed Disruption Heading towards the Banking Sector
Bitcoin was initially created to serve as the new form of digital payment but has since fallen short of that goal. As such, other cryptocurrencies such as Ripple’s XRP and Stellar have awakened to the challenge to beat Bitcoin to the task. Plans are already underway and Weiss Ratings predicts that Ripple’s XRP and Stellar have the potential to disrupt the banking sector, remittance markets, wire transfers, and other financial markets.
Cryptocurrencies which Have Nothing to Bring to the Table will Find their Seats Kicked off the Dining Hall
This year will see the end of Bitcoin-wannabe coins which has no innovative use case but occupy space as crypto coins. Weiss Ratings predicts that some coins among the top 10 by market cap would be knocked out too because they fit into the Bitcoin wannabe description. These coins include but are not limited to Bitcoin SV, Litecoin and Bitcoin Cash.
Non-Blockchain-Based Coins Will Find their Place in the Crypto Market
We may be in for a treat this year as coins untied to the blockchain technology would crawl out of hiding and find their feet in the crypto market. These coins include but are not limited to Holochain, Hasshgraph, and Hedera.