Listen Here – https://soundcloud.com/cryptodaily/xvg-up-76-eth-up-32-btc-up-29-by-2019-according-to-finder-report
The panel of ‘experts’ at Finder have published their latest report, exploring a number of cryptocurrencies and making very elaborate predictions on how they expect the cryptocurrencies to perform over the coming weeks and months. Now before we begin, we should highlight that these predictions are very bullish and that even though this is a panel of experts, predictions are just that – predictions, based on speculation and rough calculations, nothing more. Therefore, we can’t take this as absolute fact and shouldn’t use this report to justify any investment decisions. Now, with that cleared up, let’s take a look at the Finder report.
What is Finder?
Finder is technically a comparison website, so it gives users a way of comparing the price of various different products in order to make better buying decisions. Within this, they have a number of expert panels that explore and compare different products and investment packages. One such package is cryptocurrency.
The cryptocurrency panel is made up of a number of leaders within the Financial Technology industry who get together once a month to compare their own predictions about how cryptocurrencies will perform over the coming weeks. Often, these predictions are bullish but sometimes many do ring true.
Who are the experts?
As stated, all experts on the panel are leaders in the Fintech industry, therefore most have executive positions at a number of large Fintech firms including Every Capital, Laurence Ventures and Satoshi School.
The Finder disclaimer
Importantly, Finder.com does stipulate the importance of noting that this is not investment advice:
“This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.”
The report
Now to the good bit, let’s take a look at the report and the report’s predictions.
The November edition of the Finder.com report explores 13 cryptocurrencies all in all, including Bitcoin, Ethereum, XRP, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON, Binance Coin, Bytecoin and Verge. This is composed of the top 10 cryptocurrencies by market capitalisation and the top three trending cryptocurrencies (BNB, BCN, XVG).
“This month, we asked our panellists to forecast the value of the top 10 coins and the top 3 trending coins by the end of 2019. Our panellists expect that on average most coins will see an increase in value by the end of next year, with the exception of Bytecoin, which is predicted to decrease in value by 5%.”
Furthermore:
“Of the 13 coins, our panellists forecast that on average, Verge will experience the greatest price growth by 1 December 2018 (76%). This is followed by Ether (32%) and bitcoin (29%). The panel was most optimistic for XRP’s success, with an average predicted value rise of 327% by the end of next year. This is followed closely by Ether (211%) and EOS (189%).”
The report doesn’t just explore price changes and price predictions, the panel has also made predictions on some major market capitalisation movements that seem likely to occur within the top ten cryptocurrencies:
“We calculated market cap predictions using the number of coins expected to be in circulation by the end of next year and our panellists’ forecast of each coin’s value by the end of next year. As for the forecast market capitalisation for Bitcoin, Bitcoin Cash and Ether — the only coins of the 10 with a reported number of coins available by 31 December 2018 — our panel predicts that Ether will see the greatest increase in market cap growth by the end of 2019 (243%). Bitcoin follows with a 177% increase, while Bitcoin Cash is picked to come in at 77%.”
As you can see, these predictions are a little wild, however, if you actually refer to the report, many of the experts offer comments and justifications for their predictions. This isn’t just a case of people stabbing in the dark for a number, these predictions have been based on experience and calculations, therefore at the very least, it’s important that we listen to what the panel is saying.
As we have said, don’t take any of this to heart. For now, the best advice is to watch the markets to see what happens. Hold on and ensure you take time to manage your assets. Keep an eye on things because from the state of the markets today at least, things are finally starting to look a little more positive.
