ICO advisory service and research firm Satis Group has released a report with short, medium, and long-term price predictions for large-cap cryptos with Bitcoin and Monero said to outperform the rest.
Satis bullish on Bitcoin (BTC)
Despite the bear market which has plagued the cryptocurrency market since the start of the year, Satis Group believes that Bitcoin has a huge potential and would most likely reach approximately $96,000 over the next five years.
The company made this prediction known in its recent report, further adding that the cryptocurrency market cap would hit $3.6 trillion by 2023. That would be a massive rise considering the fact that the market cap is just over $200 billion.
Monero (XMR) to lead the way for privacy coins
Asides Bitcoin, Satis is also bullish on Monero which the firm expects to his $18,000 over the next five years. The eleventh largest cryptocurrency is currently trading at $120 per coin and a rise to $18,000 ($18,498) would be a massive one for the privacy coin.
Litecoin which is trading at $63 at the moment is expected to rise just a little to $134 over the next five years and to $225 in the next decade.
The second largest cryptocurrency, Ethereum, doesn’t have a chance to reach its previous all-time high over the next five years according to Satis. The group estimates that ETH will rise to $778 over the next three years but will drop to $686 in the fifth year.
Regarding Ethereum, the firm stated that:
While we do acknowledge the strong community around the ETH network, minor flaws in design and governance (which we believe will result in contention leading up to the future network upgrades, notably the move to Proof-of-Stake (PoS) consensus) can expose the relatively low switching costs of overlying networks built on top of it (the ICO’s, and tokens).
Dash will experience growth to hit $1,896 by 2023. This means that it would rise by over 900% from its current price of $203 and is expected to reach $2,927 by 2028.
XRP, BCH, and EOS predicted to drop significantly
Satis Group had a very bearish sentiment on Ripple, Bitcoin Cash, EOS and a host of other leading cryptocurrencies.
Ripple’s XRP will continue to decline and will hit $0.01 by 2023. By 2028, the cryptocurrency would drop even further to $0.004. Bitcoin Cash which is trading at $552 at the moment is expected to lose nearly 50% of its value by 2023 to trade at $268.
EOS will also lose its value over the next five years and will trade at $4.5, according to Satis Group. Stellar Lumen and Cardano are the other cryptocurrencies that are expected to lose more than 50% of their value in the coming years.
Satis not optimistic about utility tokens
The report also took a look at utility tokens and was not optimistic about them.
Even though the firm foresees application-specific tokens ultimately penetrating markets like information technology spending, gaming and gambling, they believe that these tokens have limited ability to hold and increase in value.
The firm stated that:
(T)he high velocity of these applications combined with a lack of value-retaining construct will result in them either: 1) being not used and sinking in value, or 2) having a high use and in turn lower value as a result of the high velocity.