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Fintech leaders predict February fall of almost all cryptocurrencies, should you be worried?

Price comparison site finder.com just released the results of their January Cryptocurrency Predictions Survey. The report shows some pretty interesting predictions come February 2019.

According to the survey, eight of the top 10 coins by market cap are expected to fall by February 1, 2019. Only Cardano (ADA) and Stellar (XLM) are predicted to to increase by February 1.

Biggest Losers

The eight cryptocurrencies to experience decrease in value this month include bitcoin (BTH), Ether (ETH), XRP (XRP), EOS (EOS), Stellar Lumens (XLM), Litecoin (LTC), Cardano (ADA) and TRON (TRX). If you’re wondering why there’s not Bitcoin Cash and Bitcoin SV, well, blame it on current market volatility caused by the Bitcoin Cash fork.

Of the eight cryptocurrencies, TRON is predicted to experience the biggest drop (-52%), followed by DOGE (-47%) and Litecoin (-35%). As of January 10, 2019 TRON is priced at $0.0316, DOGE at $0.0021 and Litecoin $35.48.

Joseph Raczynski of JoeTechnologist predicts that TRON will be priced at $0.022 by Feb 1 and $0.05 by December 31.

The latest news coming out of the TRON game is transaction speed, which is what most projects are trying to figure out, If they indeed have passed a milestone in speed, this will tick up.

For Dogecoins, Raczynski believes that this coin is on its way to total downfall. There’s nothing more left for the said coin. While he has this to say for Litecoin.

“LTC has a number of things going for it, but I am not certain this has long-term sustainability. Their marketing is starting to spend some money. You will see Litecoin sponsoring sporting events in the near future. That all said, it is one of the most accessible and easily tradable coins, so it could continue to echo BTC.”

Some gainers

Is the cryptocurrency industry off to a bad start this year? Well, if the predictions of the report will come true by next month, it’s certainly not a good way to kick off the year for the tumultuous cryptocurrency industry,.

But then again, according to the survey, all is not loss since at least 3 remaining coins are predicted to recover before the year ends. Predicted to have price increase are almost all coins except DOGE, NEO, Litecoin and TRON. NEO is predicted to have a 26% price decrease by February 1.

The top three gainers according to the 6 panels are Stellar and Cardano which are predicted to have a price growth of 84% and 43% respectively this month.  It would seem that Stellar Lumens is currently the most favoured cryptocurrency as of today. In fact it is expected to have a price increase of a whooping 260%. On the other hand, Cardano and Bitcoin are predicted to have price increase of 91% and 84% respectively.

Market cap prediction

The panels also predicted that Bitcoin and Ether will have market cap increase of 53.1% and 25.4% respectively. Market cap was calculated based on the number of coins expected to be in circulation by the end of the year and the predictions of the panelists on each of the coin’s value. Currently, Bitcoin’s market cap is valued at $68.4 billion while Ether is at $16.2 billion.

This balance out the predominantly decreasing price trend as predicted by the report’s panelists.

While these predictions are reliable enough and most likely to continue as the months go on, we must remember that cyrptocurrency by its inherent nature is very volatile. Best thing to do before investing on a particular crypto is to conduct your own thorough research and decide which one would be best for your investment purpose.

About Arnold Zafra

Arnold Zafra is a freelance tech blogger from the Philippines who is enthusiastic about cryptocurrency, decentralised apps and other emerging developments in the tech industry.