Weiss Ratings: in 2019, the price of Bitcoin will reach a record maximum
With the advent of the New Year, a large number of forecasts regarding cryptocurrency rates appeared. Last year, many forecasts did not take into account the "bearish" trend, which dominated the market throughout 2018 and led to a fall in Bitcoin price by more than 80%. The beginning of this year was marked by the forecast rate of Bitcoin and other cryptocurrencies, published by the independent agency Weiss Ratings.
According to the Weiss Ratings forecast, 2019 foreshadows the growth of Bitcoin popularity. The international rating agency expects that more and more people will consider cryptocurrency as a store of value, and Bitcoin will finally become stronger in its status of digital gold.
The report also says that the price of the first cryptocurrency in 2019 could reach a new record high. This forecast is based on the obvious cyclical nature of the Bitcoin price movement with a strong fall during the bear market, followed by a new price record.
Weiss Ratings also declares that 2019 will be significant for Ripple, especially in the company's desire to corner the global payment ecosystem. For most of 2018, Ripple expanded its network of banking-related applications and forged partnerships. The rating agency emphasized that Ripple has the potential to compete with SWIFT.
According to Weiss Ratings, against the background of increasing options for its use, Ripple may shift Bitcoin from its position at the top of the list of cryptocurrencies largest in market capitalization. In 2018, Ripple had already surpassed the air - the second largest cryptocurrency - in a relatively short period.
As for the rest of the Altcoin market, Weiss Ratings predicts that some of them will increase their popularity, while others will sink into oblivion. The rating agency reports that BTC-type coins, such as Bitcoin Cash and Litecoin, are doomed to failure due to the lack of innovative use cases.
On the other hand, projects such as EOS and Cardano, will initiate a paradigm shift in Internet technologies, creating Web 3.0. In addition, Weiss Ratings predicts a shake-up in the top ten of the rating due to the emergence of new entrants such as Holochain and Hedera Hashgraph.
In December of last year, several forecasts appeared at once regarding the state of the cryptocurrency market in 2019. Research firm A.T. Kearney said that Bitcoin will gradually increase its market share in the cryptocurrency market and next year the BTC will reach 66%. The head of BitMEX predicted that the Ethereum will grow to $ 200 when the ICO returns, and the PwC top manager said that 2019 will be positive for the cryptocurrency market.