Crypto Market Prediction by Experts
In November 2018, Bitcoin has been trading at nearly a quarter of its price in December 2017. The recent crash in crypto prices might have raised some concerns regarding volatility, but experts still stand firm with their predictions about the crypto market. Here’s a look at what experts are expecting of the crypto market in the foreseeable future.
Ethereum and ADA Offer the Largest Potential
According to experts at Bitcoinexchangeguide.com, Ethereum and Cardano are expected to witness the highest potential increase in prices over the next year. ADA is expected to experience growth of 159% in 2019.
Ian McLeod of Thomas Crown Art, in an interview given with The Independent, a British online newspaper, predicted that Ethereum could be on the verge of a defining breakout and that its price could explode in and beyond 2019. He also predicted that Bitcoin would lose 50% of its crypto market share to Ethereum over the next 5 years.
Crypto Market Worth $20 Trillion by 2028
Nigel Green, founder and CEO of deVere Group, a UK-based financial consulting firm, while speaking to The Independent, said that the crypto market could well become a $20 trillion industry within the next ten years. Bitcoin is expected to face intensifying competition from the developing crypto industry, while the shift from fiat currencies to cryptocurrencies will pick up pace in the next decade.
Mass Adoption
Patrick Byrne, CEO of Overstock, while speaking to Naomi Brockwell on her YouTube channel, said that cryptocurrencies are well positioned for large-scale adoption. Expressing his skepticism of the traditional financial system, Byrne pointed towards the turmoil in Venezuela, stating that cryptocurrencies were the solution to such mishaps.
Nigel Green seems to agree with this, given that he expects the crypto market value to grow beyond expectations, driven by the mass adoption of digital currencies.
Impact of Regulations
Regulations pertaining to the crypto market will increase in the near future. Jon Ostler, CEO of Finder.com, spoke to The Independent, stating that external factors will impact the crypto market. He said that the awaited approval of Bitcoin ETFs by the US SEC and acceptance of crypto exchange Bakkt by the US CFTC would affect the crypto market, although, in the longer run, cryptocurrencies do have a bright future.
Overcoming Existing Challenges
The crypto market is increasingly attracting traders and investors, despite the existing challenges faced by crypto exchanges, such as liquidity, regulations and licensing and more. In order to overcome the current challenges and to provide a simple and convenient platform for crypto trading, IronFX Group, an award-winning global online trading platform with connections to top-tier financial institutions, and EmurgoHK Group, the creators of Cardano, have come together to develop the IronX exchange.
Future IronX Exchange will be fully regulated and security audited to ensure a safe and user-friendly trading environment. Exchange will provide a full range of traditional fiat and crypto wallet funding options, as well as 24/7 support in over 30 languages.
The main idea is to provide the flexibility and the already established convenience of a traditional platform, combined with the latest developments in blockchain technology. Liquidity will be ensured, as the exchange will allow clients to seamlessly migrate their crypto accounts to the IronFX online trading platform.
