CryptoCurrency Market Outlook October 2020

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7 Must-Read Cryptocurrency Predictions For 2020

In our annual cryptocurrency predictions we forecast that the grand crypto bull market will continue in 2020

Our annual cryptocurrency predictions are a must-read. In the 2020 edition of our cryptocurrency predictions we feature the grand (secular) crypto bull market to continue even though some consolidation may be in the cards as per our Bitcoin forecast for 2020. Institutional capital will continue to pour into crypto even though this process appears to be going slower than anticipated. Crypto will increasingly integrate with real world applications. XRP will move in a wide rounding bottom formation which is ultimately bullish long term, as per our XRP price forecast. And Ripple’s Swell will set the bar for what ‘real life adoption’ means.

Let’s first review what we said last year, in all openness and transparency. We’ll continue with next year’s predictions.

Last Year’s 5 Cryptocurrency Predictions

In last year’s edition of our annual cryptocurrency predictions we predicted the following. We want to openly indicate what went well and what not in last year’s cryptocurrency predictions.

  1. Institutional money as the catalyst for the crypto bull market. It turned out that the crypto bull market continued, but it was not yet institutional capital driving it. This process of institutional money pouring into cryptocurrencies is going slower than expected.
  2. Bitcoin’s upside capped is what we said a year ago. This might still be the case longer term but for now it appeared that Bitcoin was the cryptocurrency that was most solid in its retracement in the 2nd half of 2020. Most cryptocurrencies fell back to their early 2020 lows while BTC is ending the year almost twice as high as its open.
  3. XRP becomes the new BTC. Here it becomes very interesting. XRP clearly is the cryptocurrency with most traction in real life. In terms of ADOPTION there is not any other cryptocurrency that comes even close to what XRP is doing, at scale. However, the XRP price has not reflected this potential. Admittedly, a big disconnect between the XRP price and our expectation a year ago.
  4. Only added value cryptocurrencies would do well. This appeared to be partially true. It is true that no value add cryptos did outperform, and are facing existential risks (rightfully so). However, several value add cryptos are ending the year on a not so positive note neither which is due to the crypto bearish bias in the 2nd part of 2020.
  5. Blockchain implementations would accelerate. This certainly appeared to be true, even though the number of crypto enabled blockchain applications were not the majority.

So with all this in mind what is in store for 2020? We feature 7 cryptocurrency predictions for 2020 in this article.

Cryptocurrency Predictions for 2020: Giant Secular Bull Market Continues

Bitcoin remains the leading indicator for the crypto market. According to its long term chart BTC looks to be building a long term base.

The long term chart suggests that the pace of the ongoing bull market #3 might slow down compared to the previous bull market #2. Note the emphasis on the word ‘might’. It is not a given, but it might happen.

Based on how Bitcoin will behave around current price levels we might need to adapt our investing strategy: from buy-and-hold to a combination of holding for the long term with medium term trades. How, how much, when … all these questions are what we solve in our premium cryptocurrency investing service. We guide our members in a way not anyone else is doing.

Presumably Bitcoin needs additional time before moving to a state of accelerated rise. That’s in our opinion the message of this chart.

All in all the message of the long term BTC chart is this: the grand secular Bitcoin bull market is still in place, and not going anywhere in the foreseeable future. Similarly, the grand crypto bull market is still intact, in 2020 and beyond.

Cryptocurrency Predictions for 2020: ‘Risk On’ Markets Supportive Of Crypto Bull Market

This may seem like a not very intuitive prediction but we feel strong that this will be a relevant as well as an important one for 2020.

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In order to understand this point we have to take one step back. BTC is increasingly connected to the rest of financial markets which is because of the introduction of futures. More than any time before are large traders able to switch their capital from non crypto markets (like stocks, currencies, commodities, gold) to BTC, in two directions.

Because of this we believe crypto markets are more subject to the tactical risk cycles.

As per our annual forecasts we believe that a new RISK ON cycle has started in November of 2020: Small Caps Break Out as well as our Dow Jones forecast.

The likelihood of a continued bear market as well as big crashes in BTC in 2020 are decreasing expotentially.

Cryptocurrency Predictions for 2020: Institutional Capital Pouring Into Crypto Investments

As said in the introduction the capital from institutional investors came into the crypto market but at a lower pace than expected. Institutional investors need to manage their crypto investments in a different way than the retail public, and have different legal obligations as well as specific restrictions and requirements.

Case in point: Bakkt took almost a year longer than planned to launch to the public. Yes they are growing fast, but started from scratch.

According to this Coindesk analysis there is a slow learning curve among institutional investors. This quote says it all:

The reality is that institutional investors are slowly getting comfortable (learning), and this process will continue to take time. Despite educational progress through 2020, some institutions are wondering if it’s too early to be investing in this space, and whether they can potentially get involved in investing in digital assets in the future and still generate positive returns, but in ways that are de-risked relative to today. Despite a few other challenges imposed on larger institutional investors with respect to investing in digital assets, true believers inside these large organizations are emerging, and the processes for forming a digital asset strategy are either getting started or already underway.

Institutional capital will make a difference, but it will take some more time to reach the tipping point. It may start in 2020 but also in 2021. One thing is sure: in 2020 there will be an acceleration when it comes to institutional capital inflows.

Cryptocurrency Predictions for 2020: Integration with Real World Applications

We will increasingly see integrations between the ‘real world’ and the crypto world.

If you think about it so far the crypto and blockchain world has been pretty isolated. A world that stands on itself.

We believe that 2020 will be a pivotal year in which blockchain / crypto moves closer to the real world. Especially in the enterprise world we will see ways to open up real life data integrations with blockchain / crypto applications.

Case in point: Chainlink is doing amazing work in this field. The list of Chainlink’s partners is pretty impressive, and it illustrates our point. Companies like Google, Alibaba, Oracle, etc are interested to connect data applications ‘offchain’ to the blockchain through Chainlink. See this list here and here. The transaction based statistics of Chainlink show their growth: see this tweet.

Cryptocurrency Predictions for 2020: Adoption Will Beat Non Adoption

Adoption is the what will make the difference ultimately, also in cryptocurrency prices.

However, we did not see an adoption driven price discovery mechanism in 2020. And given the evolution of the crypto market it will not be the key driver for all cryptocurrencies neither in 2020.

The one exception that might start making a difference is XRP. The adoption of XRP in transactions starts becoming really significant. The demand for XRP is growing significantly. With the partnership between Ripple and Moneygram (one of the largest money transfer services worldwide) it is clear how fast the volumes are growing that XRP is transferring from one currency into another currency (one source and another source).

Fortune.com featured the $200M that Ripple raised to accelerate the XRP adoption process (right before 2020 kicked in).

There are only a handful of other cryptocurrencies that come close to similar signs of growing adoption. But 99% of cryptocurrencies show no sign of adoption whatsoever. Sooner rather than later they will disappear.

Cryptocurrency Predictions for 2020: XRP Consolidates in a Wide Rounding Bottom Formation

From a price perspective the breakdown of XRP was an important event of 2020, which came half a year after the amazing crypto rally of April/June.

We believe that XRP is setting a giant rounding pattern. A major rounding bottom or ‘saucer base’ in more technical terms. Eventually this will resolve to the upside, and we believe that XRP will set a major bottom in the first half of 2020 before starting its steady rise.

Our longstanding price target of 20 USD is still valid. XRP will not trade at 20 USD in 2020 obviously, that’s a bit too ambitious, but it will set the stage in 2020 for an accelerated rise later down the road.

Cryptocurrency Predictions for 2020: Ripple’s Swell to set the Bar for Adoption

Last but not least we believe that Ripple’s annual event ‘Swell’ will increasingly set the bar for adoption.

The type of conversations and evolution that was presented at Swell in 2020 is amazing. Again, no other cryptocurrency comes close to achieve what Ripple is doing, which in turn helps realize the full potential of the XRP ecosystem.

Cryptocurrency Predictions Log: Weekly updated throughout 2020

This is a weekly log to keep track on our crypto predictions for 2020. We update this log on weekly basis with short bullet points to highlight whether the crypto market in 2020 is developing according to our cryptocurrency projections outlined in this article.

  • First week of January: we see encouraging signs on the BTC chart as the leading indicator for the crypto market. The odds favor a reversal to take place which should help BTC as well as the entire cryptocurrency market tremendously.
  • Second week of January: a great start of the week for the price of BTC and other cryptos. They are rising along with BTC. We couldn’t imagine it better than this, great start of the year 2020.

Stay tuned, and keep following our work to get updates on the crypto market. We strongly recommend to sign up to our premium crypto investing service (detailed actionable real-time insights).

Top 10 Best Bitcoin Stocks to Buy in 2020

There are two options if one wants to invest in the cryptocurrency market. Either you can purchase some Bitcoin directly, or you can purchase stocks in organizations that utilize BTC and blockchain technology within their platforms. Since these don’t depend on the situation with the bitcoin era, it will do you good. But, if the crypto world experiences a promising year in 2020, it will do even better in the long run.

However, buying stocks instead of buying cryptocurrency directly saves you from a long procedure of buying crypto on an exchange. For direct purchases, you will need to manage a wallet, worry about security, documentation, and price fluctuations. If you prefer buying stocks, then check out our list of top 10 best bitcoin stocks to buy in 2020.

IBM Stock (IBM)

IBM is one of the biggest tech giants in the market. It includes more than 1500 employees who work on the development of blockchain technology projects. IBM introduced it’s blockchain services in 2020 which powers CLSnet and deals with overseas exchange transactions. This is because it’s a trade netting processor and an automated settlement.

By teaming up with the Linux Foundation, they built up the Hyperledger Fabric, a task which represents considerable authority in creating and appropriating corporate blockchain arrangements. Nine worldwide banks have been selected to utilize IBM’s we.trade blockchain installments administration. Deutsche Bank and HSBC were two of the three partners.

Microsoft Stock (MSFT)

Microsoft is looking to construct a ‘Blockchain as a Service’ along with its Azure cloud, turning into an authentic adversary to Amazon with regards to facilitating cloud-based applications. The Azure Blockchain has additionally been actualized by AT&T and NASDAQ, and many other big names. Microsoft Azure keeps running on the Ethereum blockchain, implying that it relies upon what choices the Ethereum Foundation makes with respect to its code updates.

Microsoft has additionally connected its blockchain administrations to a few applications, for example, Sharepoint and OnlineOffice 365 Outlook, and applications of different organizations, including salesforce.com and Twitter.

Amazon (AMZN)

Everybody knows Amazon as the online business monster. The organization additionally utilizes services that are probably going to pick up from blockchain adoption.

Amazon Web Services powers its e-commerce business, looking after the computing aspect. The organization propelled blockchain contributions for its corporate purchasers, which enabled them to make enormous blockchain stages by utilizing templates, empowering them to effortlessly coordinate the innovation with other Amazon IT devices.

Nvidia (NVDA)

Being one of the biggest GPU manufacturers in the globe, NVIDIA is very popular in the video game graphics and mining industries as well. Miners will be engaging themselves in the process of earning tokens and coins as blockchain and cryptocurrency projects become more popular. Nvidia produces graphic chips that are targetted to be trending in the coming years. One of the reasons is because they are crafted with enough processing power to synchronize with autonomous vehicles and artificial intelligence apps, for example, the Internet of Things (IoT).

PayPal (PYPL)

PayPal is one of the most pertinent Bitcoin stocks in the business sectors. As the market head for advanced installment preparation, PayPal arrived at an arrangement with three of the best in class Bitcoin installment processors, Coinbase, BitPay, and GoCoin, to permit PayPal vendors to acknowledge Bitcoin as a type of installment. For more data on the last trade, look at the survey of Coinbase to find if it’s a reasonable spot for you to purchase and sell Bitcoin.

Square (SQ)

Square is another great application headed up by Jack Dorsey. This portable installment organization situated in Silicon Valley, California, as of late got Bitcoin ready, enabling clients to purchase and sell the cryptographic money legitimately through the Square application. Square presumably sold more than $34 million of Bitcoin in the principal quarter of 2020.

The Bitcoin Investment Trust (GBTC)

The Bitcoin Investment Trust holds Bitcoin as its fundamental asset and it’s the unique stock on the NASDAQ and other US stock exchanges for that quality. You will not have to buy Bitcoin directly to invest in Bitcoin with this platform. It has a total sum of 175,000 BTC and you can buy into the trust for a share. Each share speaks too generally BTC 0.001, so the individuals who buy 1,000 shares will possess a little more than one Bitcoin. It’s been speculated that putting resources into the Bitcoin Investment Trust is more secure than purchasing Bitcoin outright as speculators aren’t liable to security vulnerabilities that some Bitcoin trades experience.

MasterCard Stock (MA)

Just as the companies mentioned above, MasterCard also upholds blockchain, an innovation with disruptive potential for its part of business, for quite a while. In October 2020, MasterCard proposed a blockchain-based option to the banks in order to carry out transactions, disposing of credit cards.

Glance Technologies (GLNNF)

Glance Technologies is a functioning player in the digital currency biological system as they officially possess and work the Glance Pay streamlined installment framework. Glance Pay changed the manner by which cell phone clients interface with vendors, choose places to dine, make payments, order products, and access digital records.

Riot Blockchain, Inc. (RIOT)

Established in July of 2000, this organization was intended to give investment administrations to the blockchain biological system. The organization site really references their action as “a first-mover on the NASDAQ concentrated on blockchain innovation.” The objective of this gathering is to alter exchanges with a framework that has not been seen previously.

These ten bitcoin stocks are the best ones among hundreds of them all over the globe. Though it’s better to invest in stocks than directly purchasing cryptocurrency, it’s not 100% guaranteed that you won’t lose your money, All you need to run a research on them to determine which one meets all your needs and finally make your investment.

About

About Us

The Cryptocurrency Market was founded by Tai Zen , Leon Fu Dot Com™, & David Fong to help bring public awareness and accelerate the adoption of bitcoins, blockchains, and cryptocurrencies.

Leon and Tai are often referred to as the “Oracle Of Cryptocurrency™” & the “OG of Crypto” respectively by their viewers, for the numerous successful calls they have made and the length of time they have been trading & investing in cryptocurrencies. These calls have yielded unbelievable Life Changing Profits™ for their audience. These calls include cryptos such as: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Stratis, Waves, Golem, Monero, Decred, Navcoin, Factom, Iconomi, NXT, Antshares, Factom, Verge, etc.

Our Vision

To accelerate the adoption of blockchain technologies.

Our Mission

To bring awareness of bitcoin, blockchains, and cryptocurrencies to the public.

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