Crypto market in process of consolidation, finder.com

It highlights the risks associated with such a highly volatile market

Price comparison site, finder.com, has published its top 10 cryptocurrencies by market cap and three trending coins in 2018.

It predicts that DigiByte will see the greatest price growth by end-of-month at 42%, compared to TRON, which is set to gain the smallest price growth at just 2%. Bitcoin will stabilise with forecasted price growth of 4% by the end of the month, to $8,539 (£6,600), and is expected to nearly double in value by the end of 2018 to S$14,289 (£11,045).

Despite this, Bitcoin is expected to hit $14,289 (£11,045) by December. This is half of what was predicted in January, at $33,000 (£24,989). Fred Schebesta, Co-founder of Finder.com and HiveEx.com, says: “The market is consolidating and it’s trying to figure out its next move. Right now, it’s going up and down, up and down. It’s trying to find the stable price. It’s taking time to determine the actual value.”

Comparing the forecast market capitalisations for Bitcoin, Bitcoin Cash and Ethereum – the only three of the 13 coins with reported number of coins available – Ethereum is predicted to see the highest growth by the end of the year (101%). This is followed by Bitcoin with a 77% increase, and Bitcoin Cash (+17%).

Risky business

Jon Ostler, UK CEO at finder.com, says: “Last month we saw TRON show promising figures after the launch of its mainnet, with our panellists picking it as the coin with the greatest potential for growth at 342% by the end of 2018. This month, our panellists are less optimistic for TRX’s growth, assuming far more conservative positions. The coin has managed to take a complete 180, with the currency now taking the spot for the lowest predicted end of month value, as well as the coin with the lowest predicted end of year growth.”

“It’s important people are aware of the risks associated with such a highly volatile market. When deciding to purchase cryptocurrency, people should always be prepared to do their own research and decide what’s right for their own personal financial circumstances,” he concludes.

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