Bitcoin will replace gold in 20 years

March 19, 2019   Bitcoin

Cryptocurrency assets traded with low volatility on Monday. Bitcoin fell to $ 4035, Ethereum remained unchanged at $ 140, and the XRP price dropped to a value of 0.3155.

Bitcoin trading volumes increased and reached the level of January 2018. The growth in trading volume had a positive effect on quotes, Bitcoin again overcame the resistance level of $ 4,000 and is trying to gain a foothold above it. Compared with October 2018, the volume increased by 150%.

Obviously, the top Altcoins attracted more demand than the reference cryptocurrency. Bitcoin Cash has increased by 28% since Friday, while Bitcoin added about 4%. Judging by the size of the rally (obviously not pamp), time (more often not on weekends), the absence of a sharp correction after the growth impulse, we can assume that non-professional investors are entering the market and just crypto enthusiasts who believe that current levels are suitable for altcoins for purchase.

Six large international banks announced their intention to issue their own stable coins. A statement was made by IBM and Stellar representatives at a conference in Singapore. The Blockchain World Wire platform, developed by IBM and Stellar, was launched last year. It allows banks to make cross-border payments in real time. To date, 44 financial institutions have already connected to the platform. In addition, yesterday there was information that the wallet and mobile applications from the leading American cryptocurrency company Coinbase now support the XLM token from Stellar. Last week, the Coinbase pro cryptocurrency exchange added support for XLM trading in pairs with the dollar, euro and Bitcoin. Against the background of positive news, the XLM price rose on Monday by 5.5% and reached the level of 0.1155 dollars.

Price calm in the cryptocurrency market scares speculators mostly. Regulators and users of cryptocurrency would be happy with the emergence of stability in the digital asset market, as this would increase their demand as a medium of exchange. According to a study by the Foundation for Interwallet Operability (FIO), 70% of owners of digital assets did not use them as means of payment in 2018.

In our forecast for today, we assume a further slight increase in Bitcoin to the levels of 4040, 4050 and 4080 dollars, Ethereum to the levels of 142, 144, 147 dollars, and the strengthening of XRP to the levels of 0.3180, 0.3100 and 0.3230.

Of the interesting statements regarding cryptocurrency, we can note the statement made by the co-founder and head of EOS, Brendan Blamer, who said that Bitcoin will inevitably supplant gold over the next 20 years and become the world's main asset to preserve wealth. He also noted that after extracting all bitcoins, commissions on the network will inevitably increase, however, scaling solutions such as the Lightning Network will provide users with cheaper cryptocurrency transfer options.


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