Bitcoin continues to stabilise with forecasted price growth of 15% by 1st October to US$8,089 (£6,215). That’s according to price comparison site finder.com’s monthly Cryptocurrency Predictions Survey.
The research suggests that the bearish cryptocurrency trend may be close to over, with all 13 coins forecast to increase by 31st December. Bitcoin is expected to rise by 95% the end of the year to US$13,711 (£10,534). Many believe that the upcoming decision about two exchange-traded funds (ETF) by the US Securities and Exchange Commission could hold the key to cryptocurrencies’ short-term performance.
VeChain is expected to see the greatest price growth by end-of-year, at 7,310%. It is also set to see the greatest price growth by end-of-month, at 2,664%. The coin recently entered into a partnership with the Chinese government to improve medical standards through vaccine traceability and was chosen by Japan’s largest telecommunication company, NTT Docomo, for the 5G Open Partner Programme at the beginning of August.
TRON is expected to see the second greatest price growth by 1st October, at 333%, followed by Ethereum at 72%. The smallest increase comes from Monero at only 1%. EOS, Lisk, NEO and XRP are even expected to take a dive in price (-20%, -17%, -10% and -7%, respectively) before picking up again come 31st December.
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 (99%). This is followed by Bitcoin with a 47% increase, and Bitcoin Cash with an increase of 27%.
Jon Ostler, UK CEO at finder.com says, “Although three of the 13 coins are forecast to take a dive come 1st October – Lisk, NEO and XRP – our panel expect all coins to rise come the end of year, signalling that the bearish trend may be on its way out. However, most of our panel believe that a strong Bitcoin performance or a positive ETF decision are needed if the values are to significantly rise.”
“VeChain has again made an appearance as a top trending coin, with new partnerships surrounding the coin recently announced. It appears to be one to watch as it has the highest projected growth by October 1 (2,664%) as well as the highest projected growth by the end of the year (7,310%). It will be interesting to see if this upward trend will continue through to next month, or if the coin will fall off the radar.”