In recent years, the crypto scene has had a rollercoaster ride. The year 2017 saw a huge rise in the price of top digital assets. However, 2018 ended up stripping the majority of the digital asset markets’ newfound value off by huge percentages. This was a major blow to investors and crypto enthusiasts with many bailing out. But for those still fully involved in the sector, you need to understand that if the history of Bitcoin (BTC) and altcoins have taught us anything, it will be that market cycles occur from time to time.
Bitcoin (BTC) Price
Today – BTC / USD
When the price of digital assets boom, they eventually drop. Now that we already in 2019, many crypto enthusiasts have started speculating and predicting how this year would be for Bitcoin (BTC) and altcoins. Weiss Cryptocurrency Ratings recently published their opinions on the sector for this year. According to Weiss, last year was a disastrous one for digital currencies, especially in price action. Regarding the underlying technology, Weiss believes there was major progress last year.
Bitcoin (BTC) Will be Regarded as a Store of Value More
According to the Weiss Cryptocurrency Ratings, Bitcoin (BTC) will make for an excellent store of value. They believe it is on its way to be undisputedly regarded as a veritable virtual gold. The team at Weiss believe that because Bitcoin (BTC) is highly efficient to move around plus the fact that its costs very little to store it the digital asset is a viable option for digital gold. Additionally, because Bitcoin is secure and is autonomous of the government makes it the perfect choice for a digital store of value.
The Bitcoin (BTC) Price Will Boom Again to See New All-time Highs.
Based on the Weiss team model of timing major trends in cryptocurrency markets, Bitcoin is expected to rise and record new all-time highs this year and beyond. According to Weiss analysts, the majority of the weak hands departed last year, and the groundwork for a new bull market has been laid.
Some Altcoins Will Rise to Reach 20 Times Their Previous Highs After Being in Relative Obscurity
Weiss Cryptocurrency Ratings predict that a select group of altcoins will rise back to the top going on to surpass their peaks from 2017-2018. They believe that these altcoins will be backed by superior technology. This will enable them to leave the rest of the pack behind as they record substantial gains.
EOS, Cardano (ADA) and Holochain (HOT) Will be the First to Build a New Type of Internet
According to the Weiss Cryptocurrency Ratings, altcoins like EOS (EOS), Holochain (HOT), and Cardano (ADA) now lead the way to creating the Internet 3.0, designed to offer more security, and stability. It will be a sustainable worldwide web.
The Weiss analysts also believe that others will be competing. We should expect the emergence of new coins this year, and one of them could have a $1 trillion market capitalization if they can successfully create the internet 3.0.
New Digital Assets Will Get into the Top 10
New coins like Holochain and others boost the potential to quickly rise into the top 10 digital asset list by market capitalization. Holochain typically utilizes a non-blockchain distributed ledger which analysts believe will take a majority of the market share.