As cryptocurrencies are becoming a more common topic of discussions nowadays, many wonder about their future:
Which crypto-assets are going to be around for a long period of time?
Which ones are to lose or gain importance?
Which ones are good for long-term or short-term investments?
Well, let’s discuss 4 predictions about cryptocurrencies!
1. Bitcoin will hit a new all-time high this year
Since December 2018 BTC reached from $3200 to $8200 growing more than twice in 6 months. It is safe to say that cryptocurrencies are currently in a bull market and some predictions say that in November Bitcoin (BTC) will reach $20,000 and $1,000,000 in 2020.
Of course, these predictions might seem too optimistic or even silly to many. However, there is no doubt that cryptocurrency prices are growing rapidly.
To keep an eye and being updated on Bitcoin price ups and downs, you can use online Bitcoin price checkers.
2. Ripple: The Bitcoin Killer
In the early years of Bitcoin life, it was one of its kind and was technologically advanced. Now, 10 years later, as many new and better crypto-assets emerged to the scene bitcoin doesn’t seem to hold the interest of many.
So there’s one more question left:
What’s the next big crypto?
Well, for many it’s Ripple (XRP) and there are many reasons why.
Firstly, Ripple, with a market cap of $16 billion, is the third largest cryptocurrency leaving ahead only Bitcoin (BTC) and Ethereum (ETH). This makes Ripple a very safe investment since in the world of crypto frauds are nothing new.
Moreover, Ripple is the first crypto-asset which achieved adoption by financial institutions, including MUFG, BBVA, SEB and more. In the near future Ripple may replace the SWIFT system, which has been used for international transactions for 45 years now.
On the other hand, the list of investors for this crypto coin is also very impressive containing Google, Andreessen Horowitz, and many more famous investors. This only shows the huge potential of Ripple.
3. Cardano: An up-and-coming star
Speaking of another cryptocurrency with great potential for success, Cardano is a project designed to shift the way crypto-assets are developed. This cryptocurrency was launched in 2015 and in the last four years has made its way to be one of the top ten crypto-assets.
Hence, what’s so special about Cardano?
For starters, the CEO of Cardano, Charles Hoskinson, is also the co-founded of Ethereum (ETH), which is currently the second largest cryptocurrency in the world. This proves Cardano to be a reliable crypto coin.
Cardano also executes smart contracts; however, contrary to Ether, it is much more scalable, faster and in the only secure Proof-of-Stake coin so far.
All in all, Cardano, combining its team and great technology, has a bright future ahead and is definitely one to watch.
4. Institutionalization
For many years a large problem for cryptocurrencies remained the acceptance (or the lack of it) by the mainstream institutions. Many crypto critics expressed that crypto coins won’t be accepted by anyone. However, it’s safe to say now that many companies have taken a large interest in crypto-assets with Amazon, Google, and Microsoft among them. As crypto shifts from being a speculative asset class to one with real underlying value, it opens doors to many new and interesting projects to come and make an impact.
To summarize, in the future it’s expected to have a new leader in the crypto market – Ripple, even though in the near future, BTC will set its all-time high price.
