In today’s column of weekly crypto summary, we are going to take a look at the recent crypto market’s performance as well as performance of individual coins and what the future holds for some.
In the past 24 hours, despite negative news, the total market capitalization has added $10 billion and bitcoin managed to remain above the crucial $7,m000 resistance level. Some of the best performing digital currencies include Dash, Verge, Monero and EOS, recording strong gains in the range of 7 to 12%. Also, Tokens with large daily trading volumes such as ICON, VeChain and Tron have not recorded impressive gains against the leading digital currency.
According to a new study by Satis Group, an Initial Coin Offering (ICO) firm, Bitcoin (BTC), could soar to $98,000 within the next five years. Nonetheless, the company forecasts a lower target for both Bitcoin Cash (BCH) and Ripple (XRP) in the same period. Additionally, the research team stated that Ethereum (ETH) will lose about 50% of its share in the next decade.
These predictions have come amid increased adoption of various cryptocurrencies in different industries. As such, these forecasts may not come to pass since the adoption is expected to have a positive impact on the coin’s price. Further, the job market in the cryptocurrency and blockchain industries in Asia has continued to grow and many have started to shift their traditional jobs to be part of this budding technology.
Over the past few months, there has been numerous price predictions and opinions from popular figures in the cryptocurrency industry such as Tom Lee and Brian Kelly. Some stated that Bitcoin is a bubble and would end very soon. However, the cryptocurrency has continued to hold its position while firms make use of its technology in their processes.
From today’s piece of weekly crypto summary, what’s your take on the future of these cryptocurrencies?
Share your views in the comments section below
If You Liked This Article Click To Share
