Making accurate predictions related to the many different cryptocurrencies on the market is not necessarily all that easy. More often than not, predictions need to be taken with a grain of salt. As far as the year 2019 is concerned, here is a rather mixed bag of opinions as to what will happen to this industry.
The Early Bullish Phase for all Markets
Most people are familiar with the name Fred Wilson, as he is a well-known cryptocurrency price watcher. Earlier in the year, he expected the volatility in this industry associated with the bearish pressure to come to an end. So far, it seems that prediction has come true. Whether or not the markets are effectively out of the woods already, is a different matter altogether.
The bigger question is what will happen now that the markets appear to be on the mend again. Sustaining this slow and steady level of growth would be good, but that is easier said than done. Wilson also hinted at how this year may be the turning point to determine which crypto-tokens are here to stay. Real results may take months to materialize, and there could be more bullish runs along the way.
The Bitcoin Push to $9.500
Most cryptocurrency enthusiasts will be quite happy with the way Bitcoin has performed in the past few months. After the long and painful drop from $19,000 down to the $3,000 range, it would appear the bulls are back in town at this time. As a result, the value surpassed $5,000 without too many problems. Those who kept a close eye on the prediction shared by six fintech experts earlier in the year may recall this surge was somewhat expected.
Ben Ritchie claimed Bitcoin can go as high as $9.500 in 2019, which would require another near 50% increase over the coming 7 months. Not entirely impossible to achieve, although it is apparent there is a lot of work to be done. The so-called “decoupling of cryptocurrencies” is another crucial aspect to look out for in this industry. So far, no real progress has been made in that department.
The “XRP to $589” Meme
Albeit this particular prediction isn’t taken seriously by most people, there has been a cult following for the “XRP to $589” meme on the internet. Given all of the developments happening behind the scenes of Ripple, there is no real reason why the value of XRP won’t increase. Reaching a value of $589 seems virtually impossible, although one has to keep in mind this asset is not following the same rules as most cryptocurrencies per se. When it comes to finance, big numbers are a lot easier to achieve than some people may think.
Bearish Ethereum Outlook
Although not many people may want to hear it, there is still some firm belief the Ethereum price will tank in the near future. This was reiterated once again by a chart shared by Ratpatrol this week. That user genuinely expects ETH to retest the wick at $11 and change. Given the current value of ETH, that would seem rather unlikely, although one never really knows what the future will bring. It is a valid prediction like any other, though one that needs to be taken with a few grains of salt, like any other.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.