Studies predicting the prices of cryptocurrencies are like sand in the sea. The exorbitant prices in 5 or 10 years, is not so interesting, but the respective justification for the increase or loss of the respective coin. A new report has sparked heated discussions on the net and features a surprise winner.
The consulting and market research company has published a new report that a bright future for Bitcoin and Monero has been forecasted, and for native crypto-currencies Ripple predicts XRP, a total crash. In terms of numbers, this means that Bitcoin will stand at $143,000, Monero at $18,000, Ripple at $0.01 and Bitcoin Cash at $180.
Ethereum also performs poorly, while Dash rises sharply to $2,927.
The study indicates that Bitcoin will survive and rise sharply due to its supremacy. The reasons are based on the following facts:
- Increase in liquidity and purchase paths,
- Increase brand awareness
- Position as a standard base pair within the crypto markets,
- Decreasing relative volatility,
- Relative absence of attack vectors,
- Network capacity mitigation through the maturation of second-layer scaling solutions
According to the study, the partly cosmic price rises of Monero and Dash stem from the fact that 90 percent of the crypto asset valuations will not be connected with decentralized applications (dApps) within the next 10 years, but with the offshore deposit market.
Monero and Dash disguise transactions so they cannot be traced back. This property will meet a steadily growing demand over the next few years, with more and more people already appreciating a high privacy.
As we reported yesterday, Charlie Lee, founder of Litecoin, is also considering introducing a privacy feature for the digital currency. A few days ago he launched a survey, the result of which until today showed that the demand for anonymous transactions is particularly high. Whether and when an actual implementation will take place remains open for the time being.
Unusually, the forecast for XRP is that it should fall to one dollar cent. This development should occur after the study because XRP offers no added value in the long term and it is “misleadingly” marketed:
WITHIN THE CURRENCY NETWORKS, WE STILL SEE … SIGNIFICANT DRAWBACKS OF NETWORKS THAT HAVE INHERITED BRAND RECOGNITION AND POSSIBLY SHORT-LIVED ADOPTION FROM THEIR PARENTS (LIKE BCH), AND VERY LITTLE VALUE IN NETWORKS THAT ARE MISLEADINGLY MARKETED, EVEN FOR USE ON THEIR OWN NETWORK (LIKE XRP).
Whether the forecasted price increases and losses will actually occur, is in the stars.
Nonetheless, this study provides interesting insights and highlights possible scenarios that are associated with the need for greater privacy. We are curious to see what direction the crypto market will take in the next few years.