For immediate release
December Cryptocurrency Predictions Report: Tron (TRX), Litecoin (LTC) and Binance Coin (BNB) forecast to continue slump, but other coins could recover
- Price comparison site finder.com releases December Cryptocurrency Predictions Survey, 11 coins forecast
- Panellists provide thoughts on recent fall, cautiously optimistic for some coins in December
- Binance Coin (BNB), Litecoin (LTC), and TRON (TRX) forecast to drop further
- Stellar (XLM), Cardano (ADA), and bitcoin (BTC) predicted to increase
The experts on personal finance comparison site finder.com‘s latest monthly Cryptocurrency Predictions Survey provide their thoughts on recent drops over the last week of November, expressing a cautious position for most coins in December.
It’s not set to be a positive month for Binance Coin (BNB), Litecoin (LTC), and TRON (TRX). All coins are forecast to fall even further by December 31, with Binance suffering the biggest decrease at -32 percent (– warning: Binance offers cryptocurrency derivatives which the regulator banned from sale to UK consumers in January 2021). This is followed by Litecoin at -13 percent, and Tron at -12 percent.
Commenting on Litecoin’s outlook, Alisa Gus, CEO of WishKnish, said, “It’s not looking good for [Litecoin], especially considering it’s been positioning itself as a financial transactions coin, and yet Ripple and Stellar are dominating that market.”
However the panelists are predicting some coins to make strong recoveries. Stellar (XLM) and Cardano (ADA) are both expected to increase by 100 percent over the next month – to $0.28 and $0.06 respectively. Explaining his rationale behind Stellar’s predicted rise, Miko Matsumura of Evercoin said it had a “muscular ecosystem” and “many deep ties to industry and enterprise”.
Bitcoin (BTC) is also expected to have a significant increase, rising by 81 percent. Despite dropping to a low of $3,587 on November 25, 2018, panellists in the Finder survey forecast the coin could recover to $6,778 as soon as January 1, 2019.
Panellists gave varied predictions for bitcoin’s value over the next month, with five of the nine panellists giving predictions above US$5,000, while four panellists expect the coin to be valued at or below US$4,000 by January 1, 2019. This includes Fred Schebesta, CEO and co-founder of HiveEx.com and Finder.com, who gave the lowest prediction on the panel at just US$1,800 for January 1, suggesting he doesn’t expect a recovery over the next year.
The nine panellists in the December Cryptocurrency Predictions Report include:
- Craig Cobb: Founder of TraderCobb.com, designed to educate people on crypto trading in a way that is simple, easy and logical
- Alisa Gus: CEO of WishKnish, a blockchain gamified social market network aimed at helping communities grow, and founding member of the DC Digital Economy Hub
- Fred Schebesta: Co-founder of global comparison site finder.com and OTC cryptocurrency trading platform HiveEx.com. Award-winning entrepreneur
- Joerg Molt: CEO of the Satoshi School, launched to teach people the basics of blockchain technology and how they can benefit from the speed and efficiency of the currency
- Miko Matsumura: Founder of crypto exchange Evercoin, and is a general partner with Gumi Cryptos Capital
- Desmond Marshall: Founder of Rouge Ventures, Asia’s top investor platform. He’s also a new tech blockchain expert and ICO advisor
- Toby Allen: Senior Partner at Akuna Capital, he was previously a trader at Optiver
- Muneeb Khan: Head of trading and treasury at Bit Trade, a digital currency exchange and blockchain consultancy
- Sarah Begstrand: COO of BitBull Capital, a crypto hedge fund with a focus on research into crypto markets and asset management
The full details of the survey, complete with comments from the panellists, can be found here: https://www.finder.com/uk/cryptocurrency-predictions
Jon Ostler, UK CEO at finder.com says, “The end of November marked big shifts in the cryptocurrency market, particularly for bitcoin, which saw it’s value nearly halved between November 14th and the 25th. Some coins saw bigger drops than others, but all the top ten coins by market cap have experienced some kind of fall, and continue to drop.
“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.
“As such, when reading this report, people should always remember the inherent volatility of the market. Always do your own research and make financial decisions based on your own personal financial circumstances.”
For more information on finder’s cryptocurrency predictions, please visit https://www.finder.com/uk/cryptocurrency-predictions.
Notes to editors:
- *Coins were chosen using the top 10 by market capitalisation as reported by CoinMarketCap, plus three of the top coins with the highest social volume reported by Solume.io as of 15 August 2018.
- **Market cap was calculated by using the number of coins expected to be in circulation by the end of the year and the panellists’ forecasts of each coin’s value by the end of the year.
- Jon Ostler, CEO (UK) at finder.com is available for comment, opinion or interview regarding the predictions.
The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com's review pages for the current correct values.
finder.com is a personal finance website, which helps consumers compare products online so they can make better informed decisions. Consumers can visit the website to compare utilities, mortgages, credit cards, insurance products, shopping voucher codes, and so much more before choosing the option that best suits their needs.
Best of all, finder.com is completely free to use. We’re not a bank or insurer, nor are we owned by one, and we are not a product issuer or a credit provider. We’re not affiliated with any one institution or outlet, so it’s genuine advice from a team of experts who care about helping you find better.
finder.com launched in the UK in February 2017 and is privately owned and self-funded by two Australian entrepreneurs – Fred Schebesta and Frank Restuccia – who successfully grew finder.com.au to be Australia's most visited personal finance website (Source: Experian Hitwise).