With the prolonged bear market dominating 2018, many cryptocurrency enthusiasts are looking for brighter prospects in the new year. As January crosses the halfway point, questions remain if 2019 will just be more of what was seen in 2018, or if it will be a turning point (up) for prices.
A number of experts and enthusiasts, like the team at Finder.com, have chimed in with their 2019 predictions.
The Finder team predicted the value of Bitcoin and privacy coins would jump up in 2019. Finder.com CEP Jon Ostler said worries and concerns about the SEC’s decision on Bitcoin ETFs has been negatively impacting prices. Estimates are trends will change once the matter is settled.
Some of the trends the Finder team members picked up were also mentioned by a contributor at Invest in Blockchain who gave his own predictions for 2019.
- The Bitcoin Bear Market Will End: The first projection has to do with Bitcoin and the similarities to the bear market of 2013/2014. The feeling is the similarities in the pace of decline symbolize that a price bottom is very near, if it has not already occurred.
However, the expectation seems to point towards a sustained slow grind sideways for much of the year instead of a big jump up.
- A Big Boom For Some Altcoins: Speculation is that some altcoins will explode in value because of general market maturity, where coins have been created for a specific and legitimate business case. The disdain in the market for scammy ICOs and tokens will lead to a shift back to ‘real projects’ and affiliated coins that adhere to rules and regulations.
- Some Big ICOs Come In The Crosshairs Of Regulators: Regulators have been busy playing catch-up with the plethora of ICOs that have hit the market, and are focusing on ones that reek of an outright scam. As regulators get more aggressive and have a better understanding of the cryptocurrency world, projections are that they will go after some big ICOs and demand refunds to investors.
- Ethereum Shifts To PoS: Vitalik Buterin has long expressed disdain for Proof-of-Work, leading some to believe the near future could lead to a shift to Proof-of-Stake. Developers with Ethereum are now busy working on getting things set for the Constantinople update after it was originally delayed on January 16th.
- 51% Attacks Will Be On The Rise: The rate of 51% attacks seems to be on the rise, and will most likely continue one Ethereum shifts over to PoS. As a result, coins that have an adequate defence against these types of attacks will most likely fare well in the market.