Satis Group stated recently that Bitcoin is expected to rise to $96,000 by 2023 and in the next ten years, Monero (XMR) should be $44,000 per coin. Also, the Satis Group expects significant gains and Decred (DCR). In their view, the losers are Ripple (XRP) and Bitcoin Cash (BCH).
Bitcoin, Decred, and Monero
The Bitcoin price is expected to rise within ten years to $ 144,000 along with a massive upswing for XMR at $ 18,000 in the next five years. The company is also expecting the price of Decred to go up to $535 per coin.
The company published a 19-page study sponsored by Bloomberg in which they are describing the next ten years in the cryptocurrency industry.
Besides massive gains, Statis is expecting a sharp fall in price for BCH to $268.
The forecast is justified by the fact that BCH is a cryptocurrency that “seeks to benefit from brand recognition [from Bitcoin] while providing minimal technical advances.”
While other altcoins might thrive, Satis Group sees the XRP falling to $ 0.01. While Brad Garlinghouse recently prophesied a flourishing future for his project, Satis Group’s analysis was rather devastating. They have stated that XRP-like cryptocurrencies are “misleading marketed, not used in their own network and beyond a centralized ownership” have.
Also, Satis Group’s Sherwin Dowlat and Michael Hodapp expect massive capital inflows from the foreign sectors in the future. Jurisdictions such as the British Virgin Islands or the Cayman Islands should bring the enormous capital inflow, according to them.
As the study goes, they are predicting a staggering $ 3.6 trillion in total market capitalization for the entire crypto market.
After a quick glance at the company’s website, we can see that the Satis Group is an ICO advisory firm.
This information is not disclosed study, and it raises some suspicion towards its transparency and also about is objective.
At the end of the study, the two analysts acknowledge that their forecasts are only estimates and that they are incomplete.
We note that the cryptoasset markets are heavily skewed, driven by speculation. This research is intended to show fundamental valuation of the assets under various scenarios and models, however the values above do not reflect timed and targeted prices. The models do not reflect fluctuations associated with network operation, manipulation, technical modifications, technical flaws, government regulation, or market risk.,” said the analysts.
The in-depth analysis of the paper shows signs of inconsistencies. However, this does not mean that the study and assessment are wrong. It is very likely that the Bitcoin bulls will start engaging in the market again sooner or later.