A recent study conducted by the advisory of Initial Coin Offering, Satis Group suggests that Bitcoin has the potential to reach as much as $98,000 five years down the line. The report shows that cryptocurrencies are on the rise and if the current trend follows for the next five years, there are high chances that Monero (XMR) will touch $18,000, Decred (DCR) will touch $535, and BTC will touch a massive high of $98,000.
Hitting the upper tiers of the economy
With the forecast expected to be on the higher side, traders have had a smile on their face for a long time now. Although Bitcoin Cash has been forecasted to go down to $268, it has not deterred the traders from investing heavily in the available coins. Moreover, with the availability of trading software such as Bitcoin Trader, things have become much easier for everyone. Bitcoin Cash still struggles to inherit brand recognition that would enable them to get several technological benefits and this became the reason for their recent slump.
The report also suggests that centralized ownership of crypto assets will represent quite a lot of value and the expected Ripple (XRP) price will reach $0.01. One of the major concerns that are forecasted in these reports is that the platform network, Ethereum is expected to lose almost half its shares by the year 2028.
What is more interesting is the forecast for crypto assets that is expected to support the economy. The latest study on the valuation of crypto assets has mentioned that they will play as the prime players in supporting the economy and provide a balanced market condition for the next decade. On one hand, when there is an expectancy of a slump of $268 for Bitcoin Cash, there is also a silver lining with crypto assets being valued at $3.6 trillion by the year 2028. This is a huge boost because, by the end of 2019, the expected value of the assets is going to be $500 billion.
A brighter tomorrow
Almost 40% of the total crypto asset market capitalization has been accounted as offshore deposits and most of the remaining assets are held in the traditional store of different value markets. This has given a balance between the two sides and even though the growth of the total addressable market is residing, the emergence of crypto asset market capitalization will provide the necessary support if the economy falls to adjust to the higher velocity of the other contributors. This is one of the reasons why the growth of crypto asset market capitalization is coming from the increased store value.
The store of value use cases is another factor that has been considered as a game changer. Reports have proven that it is fundamental to provide support to the crypto economy and even analysts believe that they have a huge opportunity to make an impact in the store of value markets. A study from Sanford C. Bernstein & Co also points that the returns from cryptocurrency exchanges may well double up and reach $4 billion by the end of 2018 while reports from ICO already suggested that the market had doubled in the second quarter of 2018.