The experts on personal finance comparison site finder.com’s latest monthly Cryptocurrency Predictions Survey have recently given their thoughts on the drops over the last week of November. Their predictions for December are cautious for most coins, but positive for others.
It’s not set to be a very positive month for Binance Coin (BNB), Litecoin (LTC), and TRON (TRX). Unfortunately all coins are forecast to fall even further by December 31, with Binance suffering the biggest decrease at -32 percent. This is followed by Litecoin at -13 percent, and Tron at -12 percent.
Commenting on Litecoin’s outlook, Alisa Gus, CEO of WishKnish, said, “It’s not looking good for [Litecoin], especially considering it’s been positioning itself as a financial transactions coin, and yet Ripple and Stellar are dominating that market.”
However the panelists are predicting some coins to make strong recoveries. Stellar (XLM) and Cardano (ADA) are both expected to increase by 100 percent over the next month – to $0.28 and $0.06 respectively. Explaining his rationale behind Stellar’s predicted rise, Miko Matsumura of Evercoin said it had a “muscular ecosystem” and “many deep ties to industry and enterprise”.
Bitcoin (BTC) is also expected to have a significant increase, rising by 81 percent. Despite dropping to a low of $3,587 on November 25, 2018, panelists in the Finder survey forecast the coin could recover to $6,778 as soon as January 1, 2019.
Panelists were not all in agreement with each other when it came to bitcoin. They gave varied predictions for its value over the next month, with five of the nine panelists giving predictions above US$5,000, while four panelists expect the coin to be valued at or below US$4,000 by January 1, 2019. This includes Fred Schebesta, CEO and co-founder of HiveEx.com and Finder.com, who gave the lowest prediction on the panel at just US$1,800 for January 1, suggesting he doesn’t expect a recovery over the next year.
Jon Ostler, UK CEO at finder.com says, “The end of November marked big shifts in the cryptocurrency market, particularly for bitcoin, which saw it’s value nearly halved between November 14th and the 25th. Some coins saw bigger drops than others, but all the top ten coins by market cap have experienced some kind of fall, and continue to drop.
“Our panelists were cautiously optimistic this month, and while the average prediction suggests the market could recover by as soon as January, a few of our panelists noted it could fall even further. This past week has demonstrated the volatility of the market once more. While our panelists predictions provide interesting insights, this month really shows that when it comes to cryptocurrency at the moment, all bets are off.
“As such, when reading this report, people should always remember the inherent volatility of the market. Always do your own research and make financial decisions based on your own personal financial circumstances.”