As the crypto sphere keeps expanding to sprawl over the globe, everyone is keen on knowing more about the industry and what is happening within. Even when the world undergoes scarcity of digital currency, there are plenty of opinions about what is best and what would be the potential winner in the market. People own digital assets and are looking for opportunities to sell them at the right time. It has been more than a decade now since Bitcoin launched its first concept.
The new decade is here with the digital currency growing to unmatchable heights in the past few years. You should know what every year has in store for you as a holder of digital assets. 2020 is expected to be the year that kickstarts a decade of innovative ideas and tweaks to the existing technologies. With a lot happening in the world now, the cryptocurrency market and the whole economy is expected to witness a fickle nature to set in. Let us have a look at what 2020 can bring to the world of cryptocurrencies. Here are a few predictions of crypto experts.
Price of BTC
Many people disagree on the potential of May 2020’s halving event, which will determine the value of BTC for this year. As per the suggestions of the rational market theory, the slashing of the block reward of Bitcoin will have no big impact on pricing since the investors had a number of years to prepare. The Binance Labs expert Yele Bademosi expects the price of Bitcoin not to fall beyond $3,300, which was the lowest of 2019. He, indeed, believes that the lowest of 2020 will be much higher than that. Three Arrows Capital expert Su Zhu and Blockchain Capital believes that Bitcoin will transcend the limit of $20,000. Bithumb’s Seonil Moon and the Spartan Group expects that Bitcoin will surpass even $40,000 and a new demand for crypto will be created in 2020.
Potential Blockchain Networks
By employing the innovations in quantum supremacy, the security of the crypto networks is being focused on by Google since the severity of quantum computing seems to exacerbate. Quantum-resistant networks are expected to be highly prominent in 2020 with the crypto developers supporting them. Ryan Selkis of Messari predicts Polkadot and Cosmos to be the smart contract blockchains that have the highest chance to succeed in 2020.
Altcoins that are Likely to Succeed
DOT is the native token of Polakdot and has been predicted by News.Bitcoi.com that it has the highest chance to be successful in the market in this new decade. Spartan Black has put up a prediction on DOT to gradually grow into the altcoin that has a market cap much more than that of Ethereum. Telegram’s TON and Filecoin are being recommended by many of the experts for investment in 2020 since they have high potential in terms of rising value. Spartan Black has also predicted that DOGE, ICX, and NEO will lose ground but BAT and SNX will witness an increase in their market caps in 2020.