The world of cryptocurrencies is a highly volatile investment-level market and the gains and losses generated by this type of market are already known by many. However, as the popularity of cryptocurrency grows due to the increasing use cases of Bitcoin and other reputable assets, forecasts on the main cryptocurrencies are also on the increase.
In this analysis, we will try, jettisoning personal decisions, investements and opinions of each reader as regards the the market, to foresee the best and worst scenarios for Bitcoin (BTC), Monero (XMR) and Basic Attention Token (BAT) in the remainder of 2019 and for the coming 2020.
Bitcoin Price Prediction: Best & Worse Case Scenarios for 2019/2020
Bitcoin, the major cryptocurrency by crypto market capitalization and the king of all this new digital cryptos, continues to be in the number one position with a lateral movement of prices around the $3500- $4000, a movement that continues to identify the prolongation of the crypto winter.
There are several theories about the price forecast of Bitcoin (BTC), and it is not for less, since a change in its price, generates a collateral effect on the entire ecosystem due to its influence and dominance that’s just over 51%.
The best scenario for the end of 2019 points to a maximum price around $5000 as one of the most moderate and $10519 by the end of 2020, without taking into account surrealist forecasts such as that of John Mc Afee indicating expectations about the million dollars for the cryptocurrency by the end of 2020.
The scenario of the five thousand we see it probable since it is based on the following arguments:
- One of the most important reasons for this is the introduction of Bitcoin futures. Many analysts believe that the entry with full force of these investment vehicles will generate a stampede of institutional money on the ecosystem and, therefore, Bitcoin will lead the way in its deflationary policy. Cases like Bakkt and Nasdaq that offer investments in Bitcoin and other altcoins, is highly positive and hopeful for this scenario.
- Bitcoin presents its corrective cycle in the context of the second bull market with the subsequent bear market. Exactly the same happened during the first crypto winter of the year 2014, which ended in early 2015. Its 4-year chart has shown a cyclical possibility while repeating a new bullish rally for the next two years.
- Start of global economic slowdown for the period 2019/2020, will force an improvement in prices given the refuge for value in Bitcoin for many investors in a moderate way.
Under this last scenario we ratified the short and medium term projection in the $ 3700- $ 4600 bands, as we announced in our last post about the king of cryptocurrency.
For the rest of 2019, we forecast a maximum (temporary) increase in support and resistance price bands between $3,000 and $6,000 given the limited competition from other cryptocurrencies to displace Bitcoin’s market share.
In the worst scenario, it is expected that negative SEC decisions, improvements of other Blockchains to move Bitcoin from first place and / or improvements in the global economy, could indicate scenarios for their prices at the end of 2019 in the order of $ 2896 and by the end of 2020, $3380, coinciding with the Support Bands projected in the previous graphic.
Monero (XMR) Price Prediction: Best & Worse case scenario for 2019/2020
Monero (XMR), an open source cryptocurrency created as an anonymous alternative to Bitcoin and other cryptocurrencies with public Blockchains, has recently had a fork programmed to improve its block times and the respective security of its protocol, to make it resistant to spam attacks.
At the time of writing it presents a price of $ 51.96 per unit with a positive growth of 1.19% and occupies the 13th position of the general ranking of cryptocurrencies.
Monero is one of the few cryptocurrencies fully distributed in an equitable manner launched in recent years that has no prior mining, nor offers an ICO or private sale.
In terms of decentralization, this makes Monero different from other competing currencies like Zcash and DASH, which include some kind of benefits for the founder.
Monero has been capable of significant rebounds in the past, however it is necessary to break the immediate resistance this year of $ 70.79 to change the daily trend and break the ceiling of $ 106 to see a change in market confidence.
The most optimistic and technical calculations foresee an end of prices for 2019 of the cryptocurrency by the order of the ceiling around $100.99, motivated to the improvements by the hard competition of many ICO that are focused on privacy.
For 2020, if the market rebound is strong, as this cryptocurrency has proved strong against the BTC / XMR pair, it is possible that it will catapult up to $ 170- $ 200 for next year, in the best possible scenario.
In the worst scenario, caused by a market collapse led by Bitcoin for the reasons stated above, or for reasons specific to Monero community, which could trigger a collateral effect in the cryptocurrency leading to fall in prices to $ 25. – $ 30 for the period 2019/2020.
Basic Attention Token (BAT) Price Prediction: Best & Worse Case Scenario for 2019/2020
The Basic Attention Token (BAT) token gained momentum in late October and early November 2018 when it was enlisted in Coinbase. Since then, it has presented a good generalized performance, despite the prolonged crypto winter.
Inclusive, the token with the Brave search engine alliance and its built-in wallet has allowed to gain great popularity in recent weeks and this has led to a price push.
At the time of writing, BAT presents a price of $ 0.19 per unit with a contraction of just over 2% in the last 24 hours. Its capitalization market of just over $ 220 million keeps it in the 27th position in the global ranking.
BAT currently in short presents a corrective analysis of its prices, with the feasibility of a strong short bounce that will take it to reach resistance levels of $ 0.27 per unit.
However, despite this scenario in the short term, long term projections are in order and XMR is expected to end the year in the order of $ 0.192 and $ 0.463 by the end of 2020. Although some envision a more encouraging picture, we reserve these values , which we consider sufficient according to the roadmap planned for this year.
For the worst scenario, we predict a price contraction levels of $ 0.10 this year and $ 0.25 by 2020.
Disclaimer: This is not a financial advice, take it as is. Do due diligence before investing in any cryptocurrency.
