According to Weiss Ratings, the independent rating agency that focuses on virtual currencies and other companies released a new article with insights about the crypto market for 2019. The article, written by Juan M. Villaverde, makes some interesting predictions regarding Bitcoin (BTC) and other virtual currencies in the space.
Weiss Ratings Releases Insights for 2019 and Beyond
As we leave 2018 behind and we enter this new 2019, there are several analysts and companies making predictions for the year ahead. One of these firms is Weiss Ratings. The recognized independent rating agency seems to be bullish about some assets and very bearish about a few others.
The first forecast made by Villaverde is related to Bitcoin. He said that the most popular virtual currency will be increasingly used as a store of value. According to him, Bitcoin costs virtually nothing to store, it’s extremely efficient to be transported and it’s secure. Additionally, Bitcoin cannot be confiscated by any government. This is why the analyst believes that there is no other asset that can compete with Bitcoin as a store of value.
Due to the bear market that the crypto space experienced during 2018, Bitcoin could rise again in 2019. According to Weiss Ratings, adoption has dramatically improved over the past year.
Furthermore, the analyst marked that there will be some altcoins that will increase as much as 20 times their prior peaks in the coming years. Villaverde mentioned that coins such as EOS, Cardano (ADA) or Holochain are leading the change to create the Internet 3.0
There will also be some virtual currencies that are going to disrupt the banking industry. He mentioned XRP and Stellar Lumens (XLM). Both of them can disrupt financial markets, remittances, wire transfers and more. Indeed, he is very bullish about XRP saying that it could become the world’s largest digital asset.
About XRP, Villaverde wrote:
“Ripple’s XRP, in particular, is aiming to disrupt SWIFT, the giant payments network of the global banking system. If it can manage to chip away at SWIFT’s market share and even replace it in some areas, there’s a chance that XRP could eventually become the world’s No. 1 cryptocurrency.”
There are also some virtual currencies that could not have a good future. He says that Bitcoin Cash (BCH), Bitcoin SV (BSV) and Litecoin (LTC) bring nothing new to the table, meaning that they could simply fade away.
Finally, Villaverde says that there will be new coins such as Holochain, Hedera Hashgraph or others that could make it to the top 10.