The experts on personal finance comparison site finder.com’s latest monthly Cryptocurrency Predictions Survey have recently given their thoughts on the drops over the last week of November. Their predictions for December are cautious for most coins, but positive for others.
It’s not set to be a very positive month for Binance Coin (BNB), Litecoin (LTC), and TRON (TRX). Unfortunately all coins are forecast to fall even further by December 31, with Binance suffering the biggest decrease at -32 percent. This is followed by Litecoin at -13 percent, and Tron at -12 percent.
Commenting on Litecoin’s outlook, Alisa Gus, CEO of WishKnish, said, “It’s not looking good for [Litecoin], especially considering it’s been positioning itself as a financial transactions coin, and yet Ripple and Stellar are dominating that market.”
However the panelists are predicting some coins to make strong recoveries. Stellar (XLM) and Cardano (ADA) are both expected to increase by 100 percent over the next month – to $0.28 and $0.06 respectively. Explaining his rationale behind Stellar’s predicted rise, Miko Matsumura of Evercoin said it had a “muscular ecosystem” and “many deep ties to industry and enterprise”.
Bitcoin (BTC) is also expected to have a significant increase, rising by 81 percent. Despite dropping to a low of $3,587 on November 25, 2018, panelists in the Finder survey forecast the coin could recover to $6,778 as soon as January 1, 2019.
Panelists were not all in agreement with each other when it came to bitcoin. They gave varied predictions for its value over the next month, with five of the nine panelists giving predictions above US$5,000, while four panelists expect the coin to be valued at or below US$4,000 by January 1, 2019. This includes Fred Schebesta, CEO and co-founder of HiveEx.com and Finder.com, who gave the lowest prediction on the panel at just US$1,800 for January 1, suggesting he doesn’t expect a recovery over the next year.
Jon Ostler, UK CEO at finder.com says, “The end of November marked big shifts in the cryptocurrency market, particularly for bitcoin, which saw it’s value nearly halved between November 14th and the 25th. Some coins saw bigger drops than others, but all the top ten coins by market cap have experienced some kind of fall, and continue to drop.
“Our panelists were cautiously optimistic this month, and while the average prediction suggests the market could recover by as soon as January, a few of our panelists noted it could fall even further. This past week has demonstrated the volatility of the market once more. While our panelists predictions provide interesting insights, this month really shows that when it comes to cryptocurrency at the moment, all bets are off.
“As such, when reading this report, people should always remember the inherent volatility of the market. Always do your own research and make financial decisions based on your own personal financial circumstances.”
- Nebulas could be the Future of Improving The Efficiency of Blockchain Upgrades - February 22, 2019
- ‘Decent’, a Documentary on how Blockchain can Change the World - February 22, 2019
- Blockchain in healthcare market is Expected to Reach $890.5 Million by 2023 due to Increasing Number of Partnerships and Collaborations - February 12, 2019
- Coinify Introduces myCoinify, a B2C service For Individual Traders - February 12, 2019
- Yosemite X has Announced the First Open Source Public Blockchain that Operates without a Native Cryptocurrency - February 8, 2019
- Global Investment Advisory Company says much more Stable STO might merge with, or Entirely Replace IPO - February 8, 2019
- The Chamber of Digital Commerce and Blockchain Association of Canada Join for a Stronger and more Coordinated Blockchain Ecosystem - February 6, 2019
- US Merchants can now Accept Crypytocurrency Payments from their Customers, With Fee Free Cryptocurrency Point of Sale Payment Ecosystem - February 6, 2019
- Former Last.fm’s founder shakes up user privacy access with new Slant on blockchain technology - January 31, 2019
- New Report by BlockchainDefender Links Lack of Trust in Cryptocurrency Industry to Dwindling Coin Prices - January 31, 2019
- VX Network introduces a new Crypto Based, Monopoly-Style Board Game called Crypto Marble - January 30, 2019
- China Ranked first in World of Blockchain and AI Patents Being Filed – USA Runner-up - January 24, 2019
- Block.one Releases EOSIO 1.6.0, Transaction Processing Speeds Could Increase up to 35% - January 24, 2019
- First Cannabis Validation Testing Program Reaches Markets to Create Much Needed Transparency - January 23, 2019
- Eurasian Resources Group is Piloting Blockchain Based Solution on the IBM Blockchain Platform - January 21, 2019
- Coinstar to Give Consumers a Convenient and Easy Way to Buy Bitcoin at Coinstar®Kiosks - January 18, 2019
- Tech Firm IBM and MineHub Join to Build Blockchain-Based Platform for More Efficient Metals & Mining Supply Chain Solution - January 17, 2019
- Former Director of Mobile for TripAdvisor and Viator Joins KeyoCoin Team to Help Build Intuitive Mobile Booking Platform - January 10, 2019
- Project PAI Blockchain Protocol and Blockfolio Signal Beta, Create Platform for AI-Powered 3D Avatars - December 17, 2018
- Nigerian Start-up Announces Revolutionary Global Decentralized Health Platform With A Distributed Blockchain - December 15, 2018