Not many things in modern society are more difficult to project than cryptocurrency. With massive swings in value, unpredictable shifts in regulation, and a great deal of uncertainty regarding utility and purpose among the general public, cryptocurrency is essentially the definition of an enigma. For this reason, the following should be taken with a grain of salt. These are not predictions to base investments or other personal financial decisions off of. However, keeping an eye on crypto markets and some of the surrounding factors and industries, these do seem at least relatively likely to come true.
Here are five bold predictions for cryptocurrency in 2019
Bitcoin Will End The Year Up
Let’s be clear right off the bat that no one ever knows where bitcoin is headed. However, it’s interesting that even after a disaster of a year in 2018, you can find some very exciting projections from crypto experts suggesting bitcoin could reach anywhere from $20,000 to $200,000. Those numbers seem a little bit extreme, but it could well be the case that bitcoin has fallen off so much that people are ready to buy back in with hopes of catching a wave. Whether the gains are modest or extraordinary (we’d lean toward modest), the prediction here is that bitcoin will be higher on December 31st, 2019 than it was on the same date in 2018.
Ripple Will Become Number 2
This is a particularly outlandish prediction, because as of this moment ripple (or XRP) is trading at $0.37, whereas bitcoin cash and ethereum are both over $150. However, predictions have been swirling around the internet for the better part of a year or so that ripple, more than the other altcoins, could truly become the new bitcoin. At some point this narrative is going to catch on, and there’s some logic to the notion that it will do so in a year in which people are looking to invest, but disappointed in the more traditional options.
Rumors Will Surface About A Country Switching To Crypto
This is probably the most reliable prediction on this list, though unfortunately also the least consequential. It seems to happen every year: a given country around the world has a sharp economic downturn, finances become unstable for entire populations, and articles surface suggesting those entire populations could turn to cryptocurrency, eventually leading to its adoption as a national currency. It’s happened with Greece, Venezuela, and Argentina, and probably more as well, and there’s a decent chance it will happen again in 2019. However, the second part of the prediction is that the rumors will ultimately lead nowhere.
U.S. Gambling Will Cause A Boomlet
U.S. gambling is one of the most interesting industries for those monitoring cryptocurrencies to monitor moving ahead. A landmark Supreme Court ruling in 2018 set in motion the ground work for legalization of sports betting across the U.S., and many states are already taking action in that direction. This is going to result eventually in a multi-billion dollar industry, and at least a portion of the activity is likely to be conducted via cryptocurrency, as is becoming the case internationally. This potentially significant new activity may just cause a bit of a boomlet in the demand for and prices of some mainstream cryptocurrencies.
New Whales Will Be Born
Bitcoin “whales” are essentially the big players in the investment market – funds, groups, and occasionally individuals who might manage hundreds of thousands of bitcoins (or other cryptocurrencies). It’s believed that a relatively small number of “whales” control as much as about half of the available bitcoin, and can thus influence pricing greatly. However, with prices low again, and predictions out there about another run of crypto success, the prediction here is that new whales will be born. People and funds with the means to do so many just buy in heavily in the hopes of making lucrative profits if and when crypto spikes again.
Remember, none of this is meant to guide your investments. But based on the current landscape and near-future developments, these are at least semi-logical predictions for the crypto market in 2019.