The Price of Bitcoin to rise to $98,000 in the next five years, and Ethereum to lose share and Bitcoin cash to slump, all revealed in recent research of Statis Group.
The Statis Group Research
An Initial Coin Offering (ICO) advisory firm, Statis Group, in new research predicts the future of the cryptocurrency space, as the value of the top cryptocurrencies is considered in the next five years.
Their study joins the array of studies on what the price of the top valued cryptocurrency, bitcoin would be in coming years. Sherwin Dowlat and Michael Hodapp wrote the report.
Numerous predictions in the cryptocurrency ecosystem have trailed the value of bitcoin in the next months and years, but it is rear to witness predictions of the value of other cryptocurrencies. The worth of other cryptocurrencies is always seen through the value of bitcoin. Statis Group study covers most of the major cryptocurrencies.
The study expects the value of bitcoin to rise to $98,000 in the next five years. Many speculations have trailed the value of bitcoin, as many cryptocurrency enthusiasts envisage the rise of bitcoin to $18,000 before the end of the year, despite the bearish trend it has taken since the beginning of the year.
Weighing on other cryptocurrencies value in the next five years, Monero (XMR) is predicted to reach $18,000, and the Decred (DCR) to rise to $535.
The Gloomy Prediction Of Bitcoin Cash, Ripple and Ethereum Future
While the future as predicted by the Statis Group for Monero and Decred is very scintillating, the predictions for the Bitcoin cash and Ethereum is not so good either.
The study states that Bitcoin cash “[attempts] to inherit brand recognition and [provides] minimal technological advantage to incumbents,” this they say would make it slump to $268.
While Ripple XRP is predicted to be $0.01 in the next five years, as cryptocurrency with central ownership.
Their research is also expecting Ethereum to lose entire share or part because of its migration to the proof-of-stake, as the minor flaws in design and governance could tamper with its productivity.
Notably, the research foresees the cryptocurrency industry value to increase from $500 billion to $3.6 trillion by 2028, as 90% of it is expected to be an offshore deposit.