The crypto market has started 2020 generating excellent profits. Major cryptocurrencies have shown important bullish signals, making positive price predictions, indicating that a strong bull rally may have begun.
Most financial market analysts agree that cryptocurrencies are starting the new expansive movement, in search of new historical highs.
To know a little better the technical and fundamental arguments, on which the analysis are based, let’s review the current situation, and future events that support the increase in the price of Bitcoin, Ethereum and Ripple.
Bitcoin price predictions
More than 60% of the total capitalization of the cryptocurrency market is controlled by Bitcoin. As a result of this Bitcoin market movements, are reflected on the different altcoins.
For this reason, it is absolutely necessary to know the largest cryptocurrency if you want to invest in the crypto market; Bitcoin predictions based on fundamental factors and technical analysis will help you position yourself in other cryptocurrencies as well.
In the long term, the expectation is totally bullish for the leading currency. Its historic uptrend supports this vision. In 2017, Bitcoin made its all-time high, close to $20,000; Most predictions agree that the next Bull run will break this barrier without much trouble.
Twitter user@ChartsBtc, made a compilation of 11 Bitcoin predictions for the current decade, made by renowned analysts in the crypto ecosystem; These include @ArminVanBitcoin, @phraudsta, @ 100trillionUSD, @nsquared, John McAfee, Thomas Lee, Murad Mahmudov, Tim Drapper.
Some make surprising predictions, indicating that Bitcoin will reach one million dollars sometime at the end of the decade.
$10,000 is the minimum price, for those conservative in their projections. The average projections indicate that the price could increase by 1000% before 2025.
The predictions of these analysts are, for the most part, made after analyzing fundamental data, mainly related to the exponential increase in adoption and the constant decrease in supply.
In a few days we will be witnessing the 3rd Bitcoin halving, one of the most anticipated events by the ecosystem. The development of BTC, after the previous reductions in the reward occurred, was really positive and similar both times; What makes one think that this time will not be the exception.
There are different metrics that can be used to predict the future price of Bitcoin. The Stock to Flow is one of the best known, as is inevitably linked to the events of Halving, the deflationary nature of BTC, and increased demand.
Stock to Flow, also known as S2F, is used in different fields of the economy. In the case of Bitcoin, it is the product of the total offer divided by the amount produced per year, indicating the number of years necessary to reach the current supply, if it is kept at a constant rate.
Bitcoin’s S2F ratio is very high, as is gold, due to the economic model of these products, based on scarcity.
By 2025, BTC Stock to Flow is expected to be the highest among the different asset classes you can imagine, this due to the continuous celebration of Halving events.
Although they are quite reliable metrics, for many, in Bitcoin it should not be used; Such is the case of Vitalik Buterin, co-creator of Ethereum.
Some argue that miners will never be able to control the net supply, regardless of the demand for the asset, even in the absence of this factor; and explaining that the only way for Bitcoin to achieve a new historical high, is the increase in adoption, and as a consequence of demand.
Ethereum price predictions
Being the 2nd largest cryptocurrency by market capitalization, it is quite important to know its development, and analyst opinions making price predictions.
Ethereum jas managed to double its price so far this year. Today ETH experienced a huge price loss along with other cryptocurrencies; It is in these moments where it is worth investigating and knowing the intrinsic value that can take it to a new maximum, and that has already caused such incredible feats.
Among the analyst predictions we find :
- TieuLongFX : With more than 3000 followers on TradingView, he is considered a technical analyst with a good reputation. He suggests that Ethereum could reach $1,365 sometime in 2021.
- Nigel Green: CEO of the important financial consulting firm, deVere Group , predicts that ETH will exceed its historical maximum in 2020, being able to reach $2,500. He argues that the increase in digital demand, along with benefits of the Ethereum network, such as smart contracts or Defi development, will be the keys to the price increase.
- Trading Beasts: A site focused on investments, indicates that Ethereum could reach $900 at the end of the current year.
- Brian Schuster: CEO of Ark Capital LLC, is one of the most optimistic price predictions. Brian thinks ETH could reach $100,000 in about 5 years. He argues that the 2nd cryptocurrency is capable of eventually replacing gold.
- Satis Group: In an exhaustive analysis, published through Bloomberg, Satis Group makes several cryptocurrency price predictions. They estimate that the development of ETH in 2020-2021 is positive, and projecting a price of $788 for the short-medium term.
Ripple price predictions
Ripple, the 3rd largest cryptocurrency by market capitalization, was one of the most affected during the crypto winter ended in 2018. Its price fell more than 94% from its historical maximum reached at the end of 2017.
During this beginning of 2020, its performance has been quite positive; driven by the rise of Bitcoin in principle, increasing its price by almost 100%.
Today we see it, like many others, regressing deeply, however, some analysts continue to support an upward vision for the short and medium term.
- John Isige : Collaborator in the FXStreet portal, after conducting an XRP analysis, predicts that the price of this could consolidate between $0.30 and $0.50 during this 2020, to reach USD 1 at the end of the year. For the medium and long term, it expects XRP to reach its all-time high of almost $3 again; but thinking that it will be strictly linked to the behavior of Bitcoin.
- Wilson Lingham, a technical analyst, indicates that the price of ripple will be between $0.5 and $0.6 during the current year; a consolidation that would result in an upward break, and the search for a target located at $0.9.
Ripple is one of the cryptocurrencies that most detractors currently have, indicated that their network does not have the necessary fundamentals to remain a market leader over time.
- LongForecast : A portal focused on making predictions of the financial markets, indicates that the price could close 2020 at $0.13.
- Wallet Investor: The portal specialized in cryptocurrencies, foresees a negative price for XRP if we compare it with the current one since they indicate that it will be close to $0.0110 by the end of 2020, which means a drop of more than 90% from its current level.
What do you think ?, Will the crypts continue in the search for new highs ?, Let us know your point of view in the comments!