Cryptocurrency weekly price predictions

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Cryptocurrency Predictions for 2020: What Should We Expect?

2020 was a year full of surprises and expectations for blockchain and crypto projects. New partnerships have been established, new cryptocurrency products launched, and Bitcoin and Ethereum managed to make it out alive of the bear market, as well as many blockchain developments were made.

Today, we shall explore some of the cryptocurrency predictions for 2020 and look into the events and price evolutions we should expect this year.

Bitcoin (BTC) Price Prediction 2020

Bitcoin will experience a big event in May 2020, as the coin will go through its third block reward halving. Traders and analysists believe that Bitcoin will go past the all-time high of $20,000 in early 2020, due to a rally spurred by the upcoming halving. There are also investors that predict a slow rebound for BTC the coming year, with surges to ensue post-2020.

One of the most anticipated developments for Bitcoin is the Lightning Network update.
The implementation will bring more stability to the network, which will produce more demands and growth.

2020 will bring a new wave of applications, nodes, and channels, which will be based on the Lightning network. This will lead to an intense Bitcoin development ecosystem, with projects such as RSK and Exonum already using the Bitcoin network as a base.

The market was looking forward to the U.S. Securities and Exchange Commission’s (SEC) decision regarding the several Bitcoin ETF proposals.

Considering that all BTC ETFs have been rejected and that Brad Sherman, an anti-crypto proponent, was appointed as chair of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets (which practically oversees the SEC), there will be no Bitcoin ETF in our cryptocurrency predictions for 2020.

Ethereum (ETH) Price Prediction 2020

Ethereum has occupied second place after Bitcoin for a long time and is still the top altcoin in the crypto space. Also, Ethereum was initially known as the fastest network that can manage huge traffic, but as the blockchain saw more and more projects building on top of its structure, this has an impact on the speed and functionality of the main network.

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2020 is waiting for Ethereum to go through several major updates, such as Constantinople and Casper, the latter of which will shift Ethereum’s mining algorithm for Proof of Work to Proof of Stake. The team has made substantial progress on the new Ethereum 2.0 blockchain, and the market is highly optimistic that in 2020, they will achieve most of their roadmap.

These changes may positively impact the price of ETH, as most traders hope the token will get back to trading within $1,000 trading levels, with some even speculating that ETH will reach $11,000. At this point, this type of comeback is highly optimistic, but an appreciation of a few hundreds of dollars is possible for 2020.

Ripple (XRP) Price Prediction 2020

XRP, the native cryptocurrency of the Ripple ledger has made great improvements in 2020, as it managed to place itself among the top three coins in the space, and even dethroning Ethereum for a while. However, like the rest of the crypto market, this year it seems that XRP is going through a bearish period towards the end of the year, which we do not know how it will translate into the next year.

Due to its many high-profile partnerships, XRP has received a lot of media attention, which naturally jacked up its price, which makes many traders to believe that XRP can grow by 1000 percent in 2020. According to other analysts, the price will go over $10 in 2020.

So far, Ripple has been very stable in price compared to other coins, so we are unsure how and if these optimistic cryptocurrency predictions will happen in 2020.

Libra Launch

In early 2020, Facebook intends to launch its own cryptocurrency, Libra, which was designed to enable users to make digital payments in a dozen countries.

The platform is planned to also allow users to convert their dollars and other fiat currencies into digital coins, and these coins can be further used to purchase items or services online. But since Facebook’s payment network initiative was introduced to the public, it has been met with strong resistance from regulatory bodies from both the U.S. and European countries. After the regulatory backlash, the project has been keeping its development away from media attention.

Their GitHub repository shows frequent development commits and activities. In 2020 is expected that Libra will launch in one jurisdiction, but the coin will have very limited usage, partners, and functionality.

Increased Adoption for Stablecoins

In the past years, we have seen many platforms, projects, and exchanges tokenizing fiat currencies and using them as a stable means of transferring funds.

The next year it is expected that stablecoins, mostly fiat-backed, will enter the market, and adoption for them will take off. Projects, including Fnality and J.P. Morgan are to launch their own stablecoin.

The Decentralized Finance Space Will See More Growth

There are nearly $290 million stored on various apps and platforms operating in the DeFi ecosystem.

Due to the popularity of Maker DAO and Dai stablecoin and various other projects of this nature, there has been an increase in the number of decentralized exchanges, prediction markets, and lending/borrowing platforms. We believe that this open finance trend with cryptos and blockchain platforms will continue to evolve in 2020 as well.

Conclusion

Bitcoin has been relatively stable in the past few months, so our cryptocurrency predictions for 2020 will not include major price swings and crashes. Even if the market will always fluctuate, we believe that 2020 will not be characterized by the huge surges we saw in 2020 and 2020.

If prices are to see a significant change over the course of 2020, it will probably happen at a slow pace and not like with previous surges. This year, we noticed that many projects have been focused on developing their technologies and applications, especially Ethereum, which is poised to make huge changes in its internal structure.

Of course, keep in mind that predictions are just predictions, and anything can happen over the course of the year, so please take into account that there is a possibility of prices to go in a different direction than what analysts are predicting.

Featured image: San Francisco Tribe

What to Expect in the Cryptocurrency Market Forecast by 2020?

Hey there, welcome to the cryptocurrency forecast for the year 2020. Let’s dive in to know further.

The crypto industry is facing a lot of Ups and downs recently. The year 2020 cannot be fully termed as bearish or bullish as the cryptocurrency market experienced both these trends. However, November sees most of the currencies in the red region.

In this article, I would like to predict how the cryptocurrencies will fair in the year 2020. Below analysis and prediction of 2020 are based on the current cryptocurrency market trend.

Factors Affecting the Cryptocurrencies in 2020

Let’s see the factors that will affect the crypto market in 2020 ��

China’s Blockchain Adoption

As we all know, China is all set to adopt Blockchain into its day-to-day activities. The Chinese Government is diligently working towards this adoption. The news has already created quite a stir in the industry and the prices of most of the cryptos including Bitcoin have surged. This Bitcoin and crypto price trend would likely continue in the coming year 2020.

Halving and Hard forks

2020 year-end and 2020 have many halving and hard forks events lined up. Bitcoin halving in May 2020, Bitcoin Cash Halving by May end, Ethereum hard fork in June 2020, Bitcoin hard fork in Jan 2020, Monero Hard Fork are some from the wide lists of such events. Each event will affect the crypto industry and prices will swing.

Updated Crypto Regulations

As every country is either launching digital currency or adopting blockchain, new crypto regulations are bound to come into the market. Either the rules will be more strict towards crypto trading or will push the traders to alternate options. All-in-all, the crypto market will be affected in 2020 by these regulations.

Introduction of New Coins/ Tokens

Every alternate day, there is a new coin being either launched or announced. Facebook’s Libra is the most sought out coin of 2020. With the anticipation of these coins, it is hard to predict on which side the crypto industry will lean.

The CoronaVirus Pandemic

Coronavirus, also renamed as COVID-19 (World Health Organisation), is the most novel virus spread in mainland China. The deadly virus already recorded around 1000 fatalities. It has also spread to other Asian countries and slowly spreading to other continents.

The crypto market has faced lot of fluctuations since the outbreak. With the corona outbreak, cryptocurrency prediction for 2020 have taken a different turn

Other Miscellaneous factors.

Now, we have seen what are the factors that affect the cryptocurrencies. Let us have a look at how the bitcoin and some altcoins price will fare in the upcoming year 2020.

How the Crypto market will be Affected in 2020?

Bitcoin Price Prediction 2020

It is common knowledge that whenever cryptocurrency is mentioned, Bitcoin is the first to come to all of our minds. Let us first analyze the topmost cryptocurrency in this prediction, Bitcoin market in 2020.

Bitcoin, since its inception, has seen steady growth. It had reached an all-time high on Dec 2020, around $19k. Following that, the BTC price has seen a downtrend with occasional upsurge.

Based on the current market, Bitcoin is said to reach its all-time high of $20,000 by the first quarter of 2020. The second half of 2020 is what will be a deciding factor for Bitcoin price. With the scarcity of BTC Coins, the price is bound to increase in the second half. One of the influencers, John McAfee believe Bitcoin will rise with 100% and trade at $1 Million by 2020 end.

Ethereum Price Prediction 2020

It is the second most popular cryptocurrency next to the BITCOIN. Ethereum went live in July 2020. Since then, if we look at the growth chart, there is a steady increase until 2020 end. However, in Jan 2020 the ETH price took a great upsurge reaching its highest ETH/USD price of $1396.42. Following that, the year 2020 and 2020 price saw a decline in the ETH prices. As of now, Ethereum’s price has a slight variation of around 1 to 2% leaning either on the positive or negative side.

Analyst CoinKir’s technical analysis expects Ethereum to start 2020 at around $720 and then slowly increase. By the end of 2020, they expect Ethereum to become more than double, to $1488. Another prediction comes from LongForecast service which predicts Ethereum price to face up’s and down’s ranging between $474 up to a high of $672. So is this possible? What do you think?

XRP Price Prediction 2020

Moving onto the next altcoin. Ripple (XRP) is also among the top 5 cryptocurrencies. After Ripple was created in 2020. However, the price gained momentum, not until 2020. In Jan 2020, the XRP/USD price reached its peak at approx $3. Since then, to date, we see a lot of activity in the price chart.

Ripple price has the potential to hit $1.0 by the end of 2020 and increase towards its all-time high by the end of 2020. Tremendous growth is expected in 2020. According to another analyst WalletInvestor, XRP price may rise by 380 percent and reach $0.6-0.7 in a couple of years.

I have listed how some of the coins will fare individually in 2020. Let us see what the cryptocurrency prediction has to say in the upcoming Gregorian year 2020.

Cryptocurrency Forecast for 2020

As discussed earlier, this 2020 is gonna bring a lot of exciting changes and innovations in the cryptocurrency industry. The market analysis reports a steady rise in the no. of cryptocurrency and blockchain-related startups. Also, the ICO’s, mining, dApps, etc. are about to increase.

The blockchain industry is on the rise and expected to bloom in 2020. Many established companies like Coca-Cola, VISA, Walmart are adopting Blockchain in their day-to-day activities. Based on these analyses in cryptocurrency forecast 2020, it is easy to say that Cryptocurrency is the future.

Should you invest in Cryptocurrency in 2020?

The crypto market is still evolving and new coins or projects are being introduced at a faster pace. Many analysts are positive about cryptos in 2020. We bring forward some of the Analysts views:

  • Tim Draper, a Venture Capital Investor has predicted that the cryptocurrency capitalization will increase up to $80 trillion in upcoming years.
  • JP Morgan CEO, Lori Beer believes that Blockchain will replace the existing technology.

We think the cryptocurrencies on this list are among the top assets that will dominate in 2020. Should you wish to add some more points we might have forgotten, let us know on our Facebook & Twitter handle. We will surely consider it.

We’re slowly moving towards a utopian society where the economy is totally decentralized, and people use cryptocurrency instead of fiat currency.

Whether you like it or not, the crypto community continues making waves and gathering enthusiasts all over the world. Virtual money is only rising in popularity, while the value of coins is highly unstable.

Definitely, buying some crypto won’t hurt if you have some bucks to spare. But what are the best coins to invest in? Today we will muse about the future of the most well-known coins and their value.

Predicting the long-term outcome is easier than the short-term Naval Ravikant (Zcash Foundation)

In fact, short-term predictions appear to be more challenging because, in short terms, we have to consider temporary risks, such as geopolitical events, technological advancements, and failures, etc. In the long term, these factors may not necessarily matter.

What the coin price depends on?

Before we start observing the best coins to buy, let’s find out what the cost may depend on. The following factors have the potential to change cryptocurrency price:

Software upgrade. When the quality of the network improves (transaction time, block generation, defense against hackers), cryptocurrency prices soar. As a professional trader, you should keep an eye out on upgrades and their implications.

The hype around the coin. Probably, this is one of the most important factors. Indeed, public opinion can either put a cryptocurrency on a pedestal or destroy it. The traders that rely on hype should finish trading before it subsides.

Reliability of the wallet. Since all cryptocurrencies are digital, the absence of a good wallet can repel future investors and affect the currency price.

Governmental regulations. As soon as some countries ban cryptocurrency trading and mining, the interest in coins is killed, which affects its value and price immediately and seriously. The SEC and Venezuela are good examples of that.

Platform Applications. Some crypto networks host additional apps that might have their own tokens. If such an app does well, it may have a positive impact not only on the native token but the underlying platform, too.

Now it’s time to imagine what the cryptocurrency market cap 2020 will be like, and which coins are worth considering. Let’s review the top 10 coins.

Bitcoin

Most cryptocurrency specialists are sure that Bitcoin will still rein the market of top crypto coins in 2020. Its value will be sustained thanks to:

fast adoption rate,

potential global financial crisis.

A lot of institutions buy BTC hoping to make an investment that can pay off in the future– this is a piece of the pie which everyone should have. It goes without mentioning Lightning Network which will add incredible value to the Bitcoin ecosystem.

As for Bitcoin price, it’s expected to grow by 200 percent over two years, which means it can be around $13,000-14,000 by September 2020. Some Internet users are sure it will grow to $27,526.10.

Ethereum

Ethereum is in a controversial position: specialists’ opinion gravitates towards pessimistic predictions. Although now Ethereum is still one of the major dApp development platforms, things can change if this networks won’t be capable of handling the transaction load. Blockchain 3.0 and 4.0 projects are snapping at Ethereum heels and developers need to improve scalability or jump to EOS to ensure optimal performance.

It’s hard to calculate the future coins’ price when the total supply is unknown. According to Vitalik Buterin, there will be about

100 mln ETH circulating in 2020, and the Ethereum market share will be about 1,137,500, 000,000

$1,137,500,000,000 : 100,000,000 = $11,375 per coin,

+4,000 percent from today.

Ripple

It’s not a secret that XRP can become the king of banking infrastructure, so Ripple forecast 2020 is quite optimistic. The rumor is that Ripple has established a partnership with Western Union and even want to replace the SWIFT network. Today, Western Union and Moneygram are already considering using XRP

As for the price, Ripple predictions 2020 differ. According to WalletInvestor, its price may rise by 380 percent and reach $0.6-0.7 in a couple of years. The team from longforecast.com mentions the maximum price of $0.42. XRP price prediction 2020 from cryptoground.com is $1.20, which makes it perfect for long-term investment.

If you are hesitant and are still wondering which coin to invest in, EOS will be a sure-fire way to raise money in the not-so-far future. EOS.io is expected to become the number one system for enterprise applications. If we ever witness shifting of Twitter, Uber and Facebook to decentralized platforms, they’ll certainly be built on EOS. It’s highly scalable, and most Ethereum projects can be shifted to the EOS network, which makes it a potential killer of ETH.

2020 can become the golden age for EOS: it may reach $95 in the middle of the year and drop down to $55 by December 2020. Other forecasts mention such numbers as $60 (Facebook) and $23 (Google).

Stellar Lumens

XLR is the main contender of XRM (it has 5x market share of XLM), and while Ripple will dominate in the big bank sphere, Stellar Lumens may get the rest of the market. These areas include:

decentralized exchanges, such as SDEX,

ICOs on Stellar,

implementation of the Lightning Network,

cross-border payments in small banks.

Stellar Lumens price prediction 2020 is around $0.64-$0.7. However, some websites give way for more optimistic forecasts.

Thanks to the revolutionary technologies underlying NEO, it’ll continue to grow with record-breaking volumes. The NEO ecosystem has the potential to become a major public infrastructure, and the Chinese government is interested in it. If “CrypoYuan” is created, it will only put NEO significantly above all competitors.

NEO is one of worthiest coins to invest in due to optimistic forecasts: thanks to investment from the Chinese government and other enterprises, its price can grow to $200 and $300 per token. According to cryptoground.com, future NEO value will be $88 in 2020, while Google mentions the price of $77.

Cardano

The launching of Goguen Project and KEVM testnet can trigger the growth of Cardano. When Goguen Project is completed, we may witness Cardano price soaring. What also contributes to its growth is implementation in the Eastern Pacific, especially Japan. According to previsionibitcoin.it, Cardano price in 2020 can rise from $0.29 to $0.5.

More detailed Cardano prognosis is here.

Litecoin

One of the major crypto coins to invest in, Litecoin will continue conquering the market thanks to its technological superiority over Bitcoin. We know that Bitcoin cannot serve as a global payment network, while Litecoin platform is ready to share this network load. Thanks to the Lightning Network, LTC will be interchangeable with Bitcoin.

According to realistic predictions, Litecoin price can double in 2020 and reach $80. Some Internet users are sure that it will rise by 440 percent and reach

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