When it comes to the sentiment surrounding cryptocurrency investing, it is horrendous, and we tend to like this a lot, but to be clear, we only like this if the fundamentals are good. As we look into the new year for cryptocurrency, it will go beyond a Ripple price forecast or a Bitcoin price forecast. Rather, we will look to paint the fundamental picture of the cryptocurrency market. This picture will set the stage for the next wave in this sector, and it may take another 6, 12, or even 18 months before these translate into higher prices of crypto and blockchain stocks, which is fine. So, here some cryptocurrency predictions that are expected to materialize in 2019.
There have been plenty of signals this year that suggest 2019 will be the year where institutional money will finally enter the cryptocurrency market. This has been predicted in past months, but it has been recently where more facts are suggesting this event. Not only will there be cryptocurrencies on the Nasdaq in 2019, but there will also be new initiatives coming out online. Fortune recently revealed something very important as Bakkt which is a cryptocurrency investment platform for institutional money launched in November after SEC approval sees a “war for institutional money waiting to invest in cryptocurrencies.” So, it looks like institutional money will be a catalyst for a resumption of the cryptos bull market.
Bitcoin should continue to be the lead indicator when it comes to cryptocurrencies as people use it to determine the trend. However, in 2019, Bitcoin might not be the cryptocurrency that delivers 10-fold returns as it has in the past seven years. The reason for this is that Bitcoin futures will cap the upside potential to due to there being two-sided trading in the Bitcoin market for the first time since its inception. Some have predicted $25,000 to be the realistic upside target, and this is assuming the crypto crash is over.
There was an article on Medium titled, “Why Bitcoin Futures Will Fuel Ripple’s XRP Token” where the authors discussed why Ripple might be the new Bitcoin. One of the key points looks at this question: If you were an institution with millions of investment dollars, which cryptocurrency would you choose? Most people would apply the low-risk high reward principle to answer this question. If the assumptions being made in Ripple’s 2019 forecast materialize, it is possible that it will hit twice the higher side of this channel within the next few years.