A new research emerged online and according to it, the price of Bitcoin could potentially reach above $90.000 in the next five to six years. According to the report, other cryptocurrencies as well are expected to reach higher prices, for example, Monero could reach a stunning $18.000.
Bitcoin Cash, on the other hand, is expected to slump right after it makes an attempt to inherit broad recognition and will provide a minimal technological advantage. Ethereum’s platform network could potentially lose nearly half share in 5-10 years time. However, there is a strong community behind eth and the move to proof-of-stake consensus can show the low switching costs built on top of it. Also, the value of crypto assets that are needed to support the global economy will likely increase to about $500 billion next year and even reach $3.5 trillion in ten years time.
The fundamental value that will support the crypto economy will eventually come from a store of value use cases. The vast majority of the crypto asset market cap is currently held in traditional store of value markets. The cryptocurrency market cap, thanks to the new gains, added new $12 billion. Right now, it is safe to say that while the major cryptocurrencies have been volatile in the past months, they have not fallen below their support levels. From this, we can also say that cryptocurrencies are starting to recover from the downward trend.
Many analysts are seeing Bitcoin falling to $5,000, $4,000 and even as low as $3,000 before another mid-term rally occurs. However, they also believe that the resistance levels for BTC are right now set to $10,000 to $15,000 by the end of December, which gives many investors additional confidence about buying BTC at its lowest price.
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