It seems there will be a huge surprise in the cryptocurrency market this year as bitcoin which is the largest cryptocurrency coin might be overtaken by another coin.
According to a digital research firm in the name of Weiss Ratings, they said that Ripple might take the number one spot while Bitcoin might hit over $20,000.
They went further to say that Bitcoin might become a common form of exchange and it will be used as a store of value.
However, this development has not yet started to manifest as at today as Bitcoin has managed to maintain its spot. We all know 2018 was a bad year in the cryptocurrency world as cryptocurrencies lost about 90% of their prices.
This development affected major investors as they couldn’t bounce back from what seem to be a long-lasting bearing market. The mining industry was really affected by the bearish market which made the prices of each coin to be so high.
Although despite the bearish period, some investors had hope that the bearish market will lead to a stronger and much healthier market, which is happening currently.
During the fall in the price of Bitcoin last year most companies that usually collect cryptocurrencies as collateral for cash loans started demanding for higher collaterals so as not to feel the heat of the crytocurrecy market. But as at today, Bitcoin is doing just “fine’ in the Cryptocurrency Market, trading at $3,842.