FinancialCentre Analysts Breaks Down Cryptocurrency Price Predictions (Bitcoin, Ethereum, and Altcoins)
London, UK, 4 Sep 2021, ZEXPRWIRE – Cryptocurrency project prices are in constant flux. Here is FinancialCentre’s brokers’ David Horsley prediction on the future price of top cryptocurrencies.
1) Bitcoin (BTCUSD) $48,130.74
– Bitcoin started originally as digital money but has since developed into digital gold. This means that people are using it to store value more than as a medium of exchange. This has led to an increase in BTC prices.
– However, Bitcoin faces major problems with slow transaction times and high transaction fees. If these issues are not fixed, then its use case as digital gold will be challenged.
– Plus, some countries have started to put a tax on BTC transfers which could further reduce its usage as a medium of exchange, leading to more people using it for storing value. If this happens, the BTC price could fall substantially.
– Finally, countries may go cashless (where all transactions are done electronically), and if that is the case, then there would be no need for digital gold or Bitcoin in general.
2) Ethereum (ETHUSD) $3,266.03
– The biggest issue with Ether is that there is no use case for it. When the price of Ether fell a lot in 2018, many ICO projects dumped their Ether to reduce the amount of money they lost which harmed ETH’s price. If more and more ICO projects liquidate their Ether, it could cause the price of Ether to crash.
However, there is a use case for smart contracts that currently run on ETH, and if more smart contract-based projects get developed, that could increase its usage and, therefore, ETH price.
3) Ripple (XRPUSD) $1.1643
– Ripple has made a name for itself in the corporate world. Most international transfers are done through banks, but it takes days to complete, and the cost of transferring money is very high. Ripple’s main proposition is that it can cut down transfer times to just seconds and lower the transaction fees, which would help increase the usage of the coin.
– However, there are some issues Ripple is facing in terms of its transaction speed and security, which could hamper XRP price growth. However, I believe that these issues will be sorted out in the future as long as Ripple continues to grow their corporate partnerships.
4) EOS (EOSUSD) $5.10
– EOS is in a prime position to become the Ethereum of decentralized apps because it has breakneck transaction speeds and low transaction fees compared to other cryptos. In fact, if this happened then, it could likely be due to the success of EOS in driving up demand for their coin, which would most likely increase the price of EOS.
– The only issue for EOS is that it could be overtaken by newer projects with better technology and scalability, which would derail its growth.
5) Bitcoin Cash (BCHUSD) $638.13
– Bitcoin cash was created due to the original Bitcoin split in two due to differences in opinion as to how the currency should run. The main difference is that Bitcoin Cash has increased its block size limit, which would allow it to process more transactions, and therefore have lower transaction fees.
– However, others believe that increasing the block size limit could lead to security issues where a malicious attack could be conducted on the network. Plus, a higher transaction speed could lead to an increase in transaction fees. If either of these issues occurs, people may start using Bitcoin instead of BCH, which would then cause the price to drop.
6) Litecoin (LTCUSD) $107.44
– Litecoin has almost zero transaction fees and provides a higher transaction speed than Bitcoin, which is good news for the coin. However, it could be overtaken by newer projects with greater scalability and better privacy features, such as Monero and Zcash (which have both outperformed Litecoin in 2018).
– Another possible issue for Litecoin is that it does not have much use case compared to other coins.
7) Stellar Lumens (XLMUSD) $0.25
Stellar is ranked 6th in terms of market cap, and it seems that many people are sleeping on this coin because its price has hardly moved since October 2017. However, there are several reasons why Stellar could perform well in the future.
– Firstly, there is a lot of potential for growth considering that it has one of the best technology and community behind it, according to Weiss Ratings. In addition, IBM may potentially use XLM to facilitate cross-border transactions, which means more people would need XLM hence pushing up demand.
– However, other competitors in the market, such as Ripple, may also be eyeing IBM’s target market, which means that it could lead to increase usage of Ripple instead. This would likely cause the price of XLM to drop.
8) Monero (XMRUSD) $138.86
– Monero is one of the few cryptocurrencies that has grown in 2018. It provides a high level of privacy which is good for those who want to conduct transactions without being tracked and added to the public ledger.
– However, issues surround Monero, considering that it could be a preferred choice of coin for criminals due to its anonymity properties. If this were to happen, then the price of Monero could drop as governments crackdown on its usage.
Disclaimer:
Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.
