In September of 2018, the cryptocurrency market had shrunk down from $800 billion to only $128 billion. This was a sad day to be looking at your Coin Market Cap screen and marked a major turning point in the sentiment of cryptocurrency adoption. I can remember seeing DASH and Ethereum above $1,000 per coin and beaming with pride over the future of these amazing assets.
Q1 2018 was a sea of cryptocurrency red with dip buying that would lead to sorrow. I watched as the market cap of the cryptocurrency market fell from almost $1 trillion to less than $200 billion. I still know cryptocurrency investors who will not open their Bittrex accounts to check their values.
Current market sentiment in Q1 2019 is as hopeful as could be expected given the massive paper loses die-hard crypto heads have taken. I have been reading hopeful headlines predicting Bitcoin with a price of $10,000, $20,000, and even $100,000. What will happen in the near future? We can feel the excitement in the air.
Here are my predictions:
XRP, TRX, WAVES, ADA and XLM will likely take off sharply. We have seen pumps lately in Ox and other smaller coins.
Exchange coins will take off and stay high for at least a quarter. KCS, COB, BNB and BIX are all exchange tokens tied to the performance of the exchanges.
Bitcoin will hover between $3,000-$4,000. With a current dominance of 52%, we are ripe for an uptick. The Bitcoin charts indicate a pump. Look out for triple bottom patterns in the coin.
Governments and regulatory agencies will crack down on cryptocurrencies and bundled index products like the Coinbase fund will be regulated.
The stock markets around the world, particularly the S&P 500 index with it’s historically high P/E ration of 25 will fall back to normalcy in Q1-Q2 2019. Interest rates will rise and investors will flee to markets to blue-chip cryptocurrencies.
The Bitcoin ETF will be released in one form or another. Potentially on the OTC markets.
Keep your eyes open! Good luck and make sure to do your own due diligence.
Published in my Seemit, Whaleshares, Golos and Serey accounts I own
originally published in the trybe account I own: https://trybe.one/the-state-of-cryptocurrency-in-2019-my-predictions/