Price comparison site finder.com’s latest Cryptocurrency Predictions Survey expresses a cautious position for most coins in December.
It won’t be a positive month for Binance Coin, Litecoin and TRON. All of these are forecast to fall even further by 31st December, with Binance suffering the biggest decrease at -32%. This is followed by Litecoin at -13% and Tron at -12%.
However, some coins are set to make strong recoveries. Stellar and Cardano are both expected to increase by 100% over the next month – to $0.28 and $0.06 respectively. Stellar’s predicted rise is down to a “muscular ecosystem” and “many deep ties to industry and enterprise”.
Bitcoin is also expected to have a significant increase, rising by 81%. Despite dropping to a low of $3,587 on 25th November, it could recover to $6,778 as soon as 1st January.
“Our panellists were cautiously optimistic this month, and while the average prediction suggests the market could recover by as soon as January, a few of our panellists 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,” says Jon Ostler, UK CEO at finder.com.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.