Currently, Bitcoin is trading around the $ 8,000 mark. It has been trading around this price for the last one week. Also, with the usage of cryptocurrency picking up in Asia as well as Africa, analysts believe Bitcoin is slated to rise further. However, same cannot be said about the other cryptocurrencies.
Rising potential of Bitcoin Cash
While Bitcoin has been the King of Crypto having invented the industry back in 2009, many analysts actually believe that Bitcoin Cash has a better potential to rise in the longer term.
A report has been published titled Cryptocurrencies: Past, Present, and Future. Even though Bitcoin will rise as well but when you compare the returns of Bitcoin Cash with Bitcoin in the future, Bitcoin cash will provide high returns. This report highlights that Bitcoin Cash will rise significantly in the future. Also, according to the report in the coming one month, Ethereum will fall further.
The report has clearly stated that by May 2018, Bitcoin Cash will be trading around $ 2000. Similarly, the report finds that by May 2018, Ethereum will fall to $ 237.
The report has also taken into account the trends in Google search while predicting the prices of cryptocurrencies. It remains to be seen whether the report is correct in the future or not. Even though Bitcoin Cash has the potential to rise in the future but the problem is with the prediction of Ethereum. If indeed, Ethereum falls to $ 237, it will erode a significant amount of its total value. It hit a high of around $ 1200 in December of last year. That is why such a fall will equate to 80% fall from the peak. This is the main reason why it is hard to digest that Ethereum can fall to such a low. On the other hand, many of the cryptocurrency experts believe that Ethereum will be able to break even $ 1200 dollars which it had hit in December of last year. There are plenty of contrasting reports which are available currently. This is the reason why it is not clear which of the cryptocurrencies hold the highest potential.
The report provides an interesting contrast as compared to some of the other predictions which have been recently highlighted by many of the analysts. Only time will tell whether Ethereum can fall to such a low or whether it will rise once again. For now, however, there is a lot of confusion surrounding the price of cryptocurrencies.