A new research report has painted the future price of Bitcoin in a positive light; however, Bitcoin Cash doesn’t share the same fate.
Monero Tops the Chart with Percentage Increase, but Bitcoin Has the Highest Price
The report was conducted by research firm Satis Group. It looked at 10 cryptocurrencies: Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, and Dash.
Published yesterday, the report seeks to give a valuation of the combined crypto market, in addition to the aforementioned assets over a one, three, five and 10-year span. Of the 10, the report projected Monero’s future price valuations as the most favourable.
At the time of publishing, the 11th-placed altcoin is priced at $108, according to CoinMarketCap. In one year, it predicts a rise to $1,476, with an increase of over 1,260 per cent. In the third year, it will jump to $6,497, a rise of more than 5,900 percent. The fifth year will see an increase greater than 17,000 percent to $18,498. However, in 10 years, Satis Group expect a valuation of $39,584, resulting in an increase of more than 36,500 percent.
However, while Monero shows the biggest price percentage increases, it’s Bitcoin that will see the highest prices.
At the time of publishing, Bitcoin is valued at $6,980, dropping back below $7,000 it achieved this week. Yet, over the one, three, five, and 10-year timeline, the research pegs Bitcoin’s value at $32,914, $71,746, $96,378, and $143,900, respectively. Considering Bitcoin has struggled for most of 2018 to gain any foothold with its price, it seems hard to imagine the crypto asset breaking $32,000 in a year.
Interestingly, BCH doesn’t have a favourable future. Created from a hardfork from Bitcoin, BCH saw a high of over $4,000 mid-December. Yet, according to the research it won’t see those figures again. It’s currently valued at $538, but in year one it will drop to $228 before rising to $312 in the third year. The fifth year will see it drop to $268 before a further drop to $180 in 10 years time.
According to the report, downsides are seen in XRP, BCH, EOS, Stellar, and Cardano. With Bitcoin Cash, the research suggests that it’s attempting to inherit brand recognition while providing minimal technological advancements to incumbents.
In the case of XRP, the report argues that it’s misleadingly marketed, which has a centralized ownership and/or validation. Whereas, the others hold very little value in their current construct.
It remains to be seen whether the prices projected will actually come true.
What do you think of the reports findings? Let us know in the comments below.
Image from Shutterstock.
Check out the original article here.
Author: Rebecca Campbell