End of last month, Satis Group, an ICO advisory service, and research firm, released a report on the short, medium, and long-term analysis on the price standing and predictions for large-capitalization cryptocurrencies with Bitcoin and Ripple showing impressive results despite Bitcoin’s current unpleasing prices.
The initial coin offering firm published the report with the intentions to examine the current price value of major virtual currencies in the crypto market that include their actual price valuations underlying coin prices.
The published report could not have come at any better time as it contains some market prediction that concern the potential growth of the crypto market in future giving hope to prospective and current investors.
Although at present, according to information provided by CoinMarketCap, the number one ranked cryptocurrency, Bitcoin is exchanging at 6,939 US dollars per coin, marking a price decrease of less 5.77% over the period of last 24-hours. Satis Group analyst predict the price of Bitcoin is going to shoot up to about 96,000 US dollars over the next five years.
It is evident that these new price prediction from Satis Group are not so encouraging in comparison to estimates made by other market researchers and observers who place Bitcoin price valuation in the next five years to be anywhere around the 1 million US dollar level.
Currently, as the market discusses and looks into the findings made by the ICO advisory service and research firm, people are not responding to them positively as Tom Lee, another revered crypto pundit places the price of Bitcoin to be around 91,000 US dollars by Mid-2020.
Regardless of the bashing from investors and traders, the finding by Satis Group still sounds reasonably positive considering the current circumstances that have been bedeviling the crypto market.
Satis Research Note 4: Valuation – From “when moon” to “what tulips” including 5 year valuation predictions BTC ($96k) and XRP ($0.01). https://t.co/0nBi1IdVev
— Satis Group (@thesatisgroup) August 30, 2018
Satis Bitcoin’s Bullish Prediction
For some time now, it seems the crypto market has been plagued by stagnation and little positive price movement ever since this year started. But Satis Group has come with hopeful price prediction claiming Bitcoin is going to be one of the virtual currencies that are going to benefit, and realize its potential that the crypto is going to catapult its price to skyrocket to the levels of 96,000 US dollars per coin in the next five years.
Still, on the recent report findings, Satis Group predicts the monetary value of the entire cryptocurrency market would be at $3.6 trillion US dollars by 2023. If this is anything to go by, such a market valuation rise regarding market capitalization would be massive considering the current market cap of the entire crypto market currently standing below 200 billion US dollars.
Satis Group Prediction on Ripple (XRP)
Since the beginning of the year, Ripple (XRP) has managed to maintain a more or less constant price trajectory, and as a result, the digital coin has not been able to fetch attractive price valuation of traction.
At present, Ripple (XRP) is exchanging at around 0.293 US dollars, and when you have a closer look at the digital coin’s price performance since the beginning of the year, you will notice that Ripple’s XRP has been losing its value over time. The cryptocurrency has dropped over 60 percent of its value from the peak.
According to the informatics report by Satis Group, Ripple (XRP) has no utility value attached to it making it a misleadingly marketed digital asset. Many crypto enthusiasts view these sentiments negatively as the digital coin has been gaining mainstream adoption in the financial and banking sector continuously.
Everyone who is familiar with Ripple (XRP) can attest that the digital currency is making highlights with constant news of being adopted by financial companies and banks. It’s just a fact nobody can take away from Ripple.
According to the research, Ripple investors should be on the lookout for a price dip to the zones of 0.01 US dollars away from its current 0.293 US dollar price tag.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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