It’s that time of the year…
The time when a lot of companies release reports and predict the future cryptocurrency news by estimating goals, targets and prices for the world of cryptocurrencies while pinpointing the rise of Bitcoin and many other altcoins.
Weiss Cryptocurrency Ratings is one of those firms. With its recently published list of predictions, the firm confirmed its optimism and the potential bullish action that could happen in 2019 in the world of crypto.
As their article starts off, 2018 was horrendous for crypto but has also been filled with positive news when it comes to fundamentals. Some of the cited positives, according to the company, included developments such as the Lighting Network (LN), the EOS mainnet, Hashgraph and Holochain.
Their other seven predictions for the crypto market in 2019 include:
- Bitcoin will be increasingly used as a store of value.
- The price of Bitcoin will rise again and head for new all-time highs.
- Select altcoins will rise from relative obscurity to as much as 20 times their previous all-time highs.
- A select group of cryptos will compete to build a new kind of internet.
- Another select group of cryptocurrencies will disrupt the world of banking.
- Bitcoin me-too coins will fade away.
- New coins will rocket to the top 10.
Many of these predictions are following logically with the beliefs of investors and Bitcoin supporters. However, the last two also predict that new coins could penetrate into the top 10 and bring new gains for many investments.
Ultimately, we’ll just have to wait and see what happens in the coming months and years and hope that these predictions are closer to reality as every day goes by.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
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