May’s Top Cryptocurrency Predictions
finder.com has released its monthly Cryptocurrency Predictions Survey, on how the top 10 cryptocurrencies by market cap and two trending coins will perform in 2018. Out of the 12 coins, finder.com’s nine panellists predict that Cardano (ADA) will experience the greatest percentage growth by 1 June, 2018, at 40%. ADA’s price was $0.272 (£0.20) per […]
Out of the 12 coins, finder.com’s nine panellists predict that Cardano (ADA) will experience the greatest percentage growth by 1 June, 2018, at 40%. ADA’s price was $0.272 (£0.20) per unit on 26 April 2018, and is forecast to reach $0.383 (£0.282) by June 1. It’s also expected to see the greatest percentage growth by the year’s end, of 597% to $1.90 (£1.39).
Bitcoin Cash (BCH) is the coin that’s expected to see the second-greatest increase in growth by 31 December 2018, at 174%, followed by Bitcoin (BTC) at 163%.
Ripple (XRP) is the only coin predicted to decrease in value by the end of the year, going down 15% to a price per unit of $0.688 (£0.506). By 1 June 2018, EOS (EOS) is the only coin forecast to decrease from its current price, dropping 11%, although is expected to bounce back up by 106% by end of year.
Comparing the forecast market capitalisations* for bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) – the only three of the 12 coins with reported number of coins available – Bitcoin Cash (BCH) is predicted to see the highest growth by the end of the year (181%). This is only slightly above bitcoin (BTC) with a 170% forecast increase.
Jon Ostler, UK CEO at finder.com said, “While billionaire Warren Buffett’s comments may have temporarily caused a sharp drop in the value of Bitcoin, overall the cryptocurrency market continues to trend upwards following last months’ bear market. Bitcoin has already started to recover while Ripple (XRP) has secured numerous partnerships with financial institutions. However, our panellists make the distinction between the Ripple technology and the coin – they’re not as optimistic about the coin itself, with an average forecast of a 15% drop in price by end of year.
“The prediction for EOS (EOS) is also interesting, as it shows the panellists’ confidence that the expected main net launch in June will boost the coin by the end of the year, despite seeing an 11% decrease in price by 1 June 2018.
“Despite Buffett’s remarks, cryptocurrency is growing in popularity as its acceptance and investment by major global banks such as Goldman Sachs becomes more mainstream. Before investing in any new currency it’s important to remember that the market is still volatile and many of the laws surrounding cryptocurrency are still in flux. When looking to invest make sure you consult a professional advisor and have a cryptocurrency plan in place before starting to trade or exchange.”