And yet, Ethereum will outperform it. If the current flash crash has got you worried, then don’t be. Bitcoin and friends have a bright future ahead, with massive gains expected for these digital currencies.
A positive future for cryptocurrencies looks quite distant right now due to the dramatic dips that have occurred so far in 2018.
But as reported, these coins are set to see large gains this year.
In fact, Ethereum will outperform Bitcoin in terms of market capitalization increase, with the currency said to lead the charge with a 212% increase. This will be followed by Bitcoin at 194%, while Bitcoin Cash is expected to go up 123%.
Ethereum will, however, still only have the third largest price tag per token, with each ETH expected to cost $2,550 by the end of this year. BTC may trade at $29,533 per piece, and Bitcoin BCH, $2,721.
Current prices, at the time of this writing, show Bitcoin at $8778, Ethereum at $686, and Bitcoin Cash at $958.
All this has been revealed when Finder, a consumer product and services comparison website asked nine blockchain industry participants for the opinion on the predicted price trends of the top 12 cryptocurrencies.
Despite all this enthusiasm, scalability concerns still remain, though many believe that they will be resolved as users and developers continue to work and optimize blockchain technology.
What’s interesting is that survey participants are particularly bullish on Ethereum due to the wider applicability of its underlying network. It still is the blockchain of choice for startups looking for an ICO, and this is something that will not change anytime soon.
Speaking of soon, Bitcoin is set to remain the king for a fair while further.
Investors should also not expect a flippening anytime, as the average daily turnover for Bitcoin is still more than threefold that of Ethereum, which itself is facing competition from EOS, NEO, and more.
Still, plenty of positive takeaways here.
Roll on December 31, 2018.