Markets and Prices
Initial coin offering (ICO) advisory firm, Satis Group, has published a report detailing a number of predictions for the cryptocurrency industry – estimating that the total market capitalization of all combined virtual currency markets will reach nearly $3.6 trillion USD by 2028.
Also Read: August Markets Report: Heavy Selling Across Leading Crypto Markets
Satis Predicts $500 Billion Market Cap for Cryptoassets in 2019
In a report titled “Cryptoasset Market Coverage Initiation: Valuation,” Satis Group, a cryptocurrency advisory firm, has outlined a number of predictions for the coming future of the virtual currency markets.
The report asserts that more than 90 percent of “cryptoasset value will be derived from penetration of offshore deposits in the next decade,” anticipating that such will propel the market capitalization of all cryptocurrency markets, from nearly $236 billion today, to $3.57 trillion in 2028.
Satis Group predicts a total market capitalization of $509 billion for next year and estimates that the market cap will break above $1 trillion in 2021. The report also estimates that BTC will be trading at $32,914 during next year, $96,378 in five years time, and $143,900 in 2028.
Satis Predicts Utility Tokens Will Sink in Value
Satis Group predicts a poor outlook for “cryptoassets which attempt to inherit brand recognition and provide minimal technological advantage to incumbents” in addition to “cryptoassets which are misleadingly marketed, not needed within their own network, and have centralized ownership/validation.”
The report adds that most “Utility application-specific networks hold very little value, in their current construct,” asserting that “the high velocity of these applications combined with a lack of value-retaining construct” will result in such failing to garner significant use and “sinking in value.”
Satis Group also asserts that “The largest upside we see in the entire crypto asset market is in the privacy sector.” The report asserts that “The use cases within the privacy markets are incredibly sticky and feed on adoption, especial when regulators and law enforcement are making efforts to increase forensic penetration into public networks like BTC.”
What do you make of predictions for the cryptocurrency markets published by Satis Group? Share your thoughts in the comments section below!
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