BTC $42461.69 (-3.0%)
ETH $2929.20 (-4.8%)
USDT $1.00 (-0.0%)
BCH $537.93 (-2.0%)
BSV $154.36 (8.68%)
LTC $156.40 (-2.4%)
BNB $362.40 (-2.4%)
ADA $2.08 (-2.9%)
DOGE $0.20 (-2.4%)
BTC $42461.69 (-3.0%)
ETH $2929.20 (-4.8%)
USDT $1.00 (-0.0%)
BCH $537.93 (-2.0%)
BSV $154.36 (8.68%)
LTC $156.40 (-2.4%)
BNB $362.40 (-2.4%)
ADA $2.08 (-2.9%)
DOGE $0.20 (-2.4%)

Top 10 Cryptocurrency Predictions 2020

Top 10 Crypto 2020 Predictions

2020 has been an unusual year mainly due to the global COVID-19 crisis that continues to rattle the world’s economy. Along with the society’s lifestyle changes brought about by the “new normal”, the market is undergoing even more challenges.

Nevertheless, market volatility is characteristic not only of cryptocurrencies but of all the investment markets.

Interest in Bitcoin and other cryptocurrencies including Ethereum has been booming during the first semester of 2020 due to many unprecedented events, thus climbing the search for viable finance alternatives.

More positive sentiments and the hunt for alternative investment due to the plummeting market economy can predict a bullish crypto explosion in 2020 and in the years to come. Nevertheless, we cannot point out which crypto will emerge as the top gainers at the end of this year.

But one thing is for sure: all charts argue that cryptocurrency is indeed faring better than fiat currency.

So which cryptocurrency should you buy in 2020? In this article, we take a close look at the top ten cryptocurrencies and make our predictions for the rest of the year.

1. Bitcoin

Since 2009, Bitcoin has consistently topped the list in terms of market capitalization and mass adoption. Despite seeing its peak in 2017 when it reached almost $20,000 per coin after its second halving, the currency is beginning to see golden days in 2020.

Source: CoinGecko
Source: CoinGecko

During the third halving event on May 11, the Bitcoin community has already proven that 2020 would be an exciting year for the said currency. With halving generating enthusiasm and social media traffic, the currency rallied to over $11,798.52 as of the time of writing.

Based on the chart above, we see Bitcoin’s humble start in 2020, with meager prices since the beginning of the year and an incredible recovery by the halving time.

Read Also: Bitcoin Price Outlook After Historic Halving

2. Ethereum

Bitcoin might be the most popular digital currency, but there is no argument that Ethereum is by far the most influential one. The explanation is simple: ETH enables thousands of cryptocurrency projects to be developed under its blockchain.

What makes the platform so famous is that, unlike other blockchains, Ethereum is not limited to a few operations. Instead, it allows developers to create whatever program that their minds can conceive.

This resulted in more than 2,500 different types of DApps within the Ethereum platform.

Source: CoinGecko
Source: CoinGecko

According to the graph above, the price of the ETH continues to increase since the start of the year, from $127.58 in January 2020, all the way to $411.66 in Aug 2020. Analysts claim that DeFi is one of the main contributors to Ethereum’s outstanding rally. The platform’s progress speaks for itself that ETH can have a bright future ahead in 2020.

3. Ripple (XRP)

Ripple is a San Francisco-based company that utilizes its native digital asset called XRP to move funds across borders. Its blockchain and network are aggressively opening doors to new opportunities in the field of international commerce, banking, and other payment systems.

In the last quarter of 2019, remittance giant MoneyGram received over $11 million from Ripple. This amount of money is said to be used in MoneyGram’s global payment solution with the help of blockchain technology.

Furthermore, European money transfer service Azimo also announced that it would use Ripple’s On-Demand Liquidity (ODL) technology to increase its cross-border fund transfers.

These partnerships and integration with Ripple’s blockchain technology can drive the price of XRP to new heights this 2020.

Read Also: XRP Analysis: Ripple’s Price and Buying Volume Increased This Summer

4. Tether (USDT)

Tether (USDT) is a digital asset issued on the Bitcoin blockchain. It is known as the most prominent stablecoin. The coin’s price is artificially maintained to match the value of real-life assets in which they are pegged at (US dollar in the case of USDT).

Source: CoinGecko
Source: CoinGecko

From the beginning of 2020 until July, USDT has maintained its price from $0.99 to $1.020. This strong market standing with less volatility indicates that USDT is facing a potential bull run.

According to Trading Beast’s research, USDT price is forecasted to reach $1.2806067 by the end of December 2020.

5. Bitcoin Cash (BCH)

Source: CoinGecko
Source: CoinGecko

Bitcoin Cash is a hard fork of Bitcoin. Within two years, it has proven to have a healthy market capitalization. Aside from that, the daily trading volume of the coin is estimated to be over $1 billion, which is a good indication that traders are supporting its projects.

BCH also prevails above fiat in some countries like Australia. These achievements that BCH accomplished and its rising role in the world can predict a chance for a better index this 2020.

6. Bitcoin SV (BSV)

Bitcoin SV, on the other hand. is a hard fork of Bitcoin Cash. It was born from a rift that occurred in the BCH community.

Source: CoinGecko
Source: CoinGecko

Regarding the price of BSV, there has often been a lot of speculation that resulted in considerable volatility especially this 2020. As seen on the graph above, the price of the coin has moved significantly in the mid-year bull run of 2019 until the last quarter of the year.

However, the BSV ecosystem has grown aggressively to approximately 400 ventures and projects around the world. As of January 19, 2020, there are about 394 company protocol projects and protocol layers built on or for BSV.

Simplex, a leading provider of global credit and debit card processing for digital currency exchanges and wallets, also added BSV. This partnership will enable Simplex to have over 150 partners to allow crypto users to buy BSV using credit and debit cards.

With new projects and partnerships being announced on a regular basis, BSV can be one of the cryptocurrencies that have a great future this 2020.

7. Litecoin

Litecoin is one of the fastest and most affordable cryptocurrencies for payments. It was released in October 2011 by Charlie Lee, a former Google employee. A fork of Bitcoin, it has a smaller block generation time and uses the Scrypt algorithm.

Litecoin is a cryptocurrency to watch out for this 2020. Lately, it has partnered with the South Korean crypto company MeconCash which allows LTC to be integrated into the MeconCash (M.Pay) platform and enables LTC withdrawals in Korean won at over 13,000 ATMs in South Korea.

Source: CoinGecko
Source: CoinGecko

LTC’s price mainly depends on the mass adoption of its cryptocurrency, and because of its partnership with the said Korean company, LTC users seem to be on a bright path this 2020. As of this writing, LTC’s price is $ 62.60, which is a huge climb from its price of $ 42.10 upon entering 2020.

8. Cardano

Cardano is a decentralized cryptocurrency platform that is designed to allow secure, scalable, complex, and programmable transfers of value. Its decentralized ecosystem runs on its own cryptocurrency called ADA.

According to Quantstamp CEO Richard Ma, Cardano will become the second-largest DeFi platform. Meanwhile, Cardano Founder Charles Hoskinson, also made an announcement on the platform’s official Twitter account that smart contracts and Cardano-based native assets are set to be launched before 2020 ends.

Source: CoinGecko
Source: CoinGecko

These updates can drive the cryptocurrency toward mass adoption and lead to a bullish year. ADA price has also risen by more than 40% in the last 30 days and has fought its way to the top ten among the largest cryptocurrencies.

9. Chainlink (LINK)

LINK is a decentralized oracle network that provides real-world data to smart contacts on the blockchain. In other words, it enables blockchain to interact with smart devices and other digital information in real-time. It also allows smart contracts to access a more extensive array of information and connect with APIs.

The crypto community’s sentiment toward LINK appears to be positive due to the growth of DeFi platforms, which need Chainlink’s oracles in order to operate seamlessly. It is said that the total value locked in the DeFi market achieved a new record of $3.56 billion.

Source: CoinGecko
Source: CoinGecko

The increasing demand for Chainlink’s technology is an indication that the platform is doing well.

As of August 20, the current price of LINK is $16.36 and its price has seen an uptrend for the past 1 year from a price of $2.17 in Aug 2019. If this momentum continues, the crypto will increase further before 2020 comes to a close.

10. Binance Coin (BNB)

Binance Coin is the digital currency that fuels all operations in the Binance exchange, which is expanding its influence and acquiring new markets across borders. The latest expansion was in South Korea and in the US. They also added trading pairs with the Russian ruble.

Aside from these achievements, the platform also launched new products in the crypto market, such as Binance DEX and Binance chain. These played a very important role in the growth of BNB.

In order to trade on Binance DEX, users are required to use BNB. As a result, the cryptocurrency has experienced mass adoption and price growth.

Source: CoinGecko
Source: CoinGecko

In addition, the platform burns coins every quarter, and it is noticed that during this event, the price of the increases.

As stated in the graph above, the price of BNB has come a long way from this year’s bearish price of $9.14 in March 2020 to $23.12 on Aug 20, 2020. If these positive results continue, there is a big possibility that BNB can have a good year until the end of 2020.

Where to invest today: crypto predictions 2020

The coronavirus pandemic has threatened the start of 2020 and made the global economy bend on its knees, as various business sectors have halted to a standstill.

As a result, governments have found themselves being forced to provide solutions such as quantitative easing and zero interest rates.

These scenarios show that this can be an advantage for the crypto industry since printing more money devalues the currency and causes inflation. That said, cryptocurrencies have a better footing this 2020 despite the world’s growing economic crisis.

Another fact that could contribute to the sustained rally of cryptocurrency this 2020 is the partnership of the payment giant Visa with Fold, a cryptocurrency startup.

The Fold network is said to offer a card that rewards its users with cryptocurrency instead of mileage or cash. The credit card offered by Fold can be used in major companies and outlets such as Uber, Amazon, Airbnb, and Starbucks.

Fold Chief Executive Officer Will Reeves said in an interview:

People are not interested in spending Bitcoin right now but are interested in accumulating it, and If people don’t understand Bitcoin as money yet, they certainly will understand it as a better reward

With the continuous growth and integration of different cryptocurrencies in the market with real-world applications, it is possible that the crypto market can maintain its position and climb even higher until the end of 2020.

Disclaimer: This article must not be used and considered as a piece of financial advice. This serves only as an informative material about cryptocurrency. The crypto market is subject to high volatility and regulatory uncertainty. Kindly do in-depth research prior to engaging or investing in any cryptocurrencies.

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry