As per the report of Satis, Monero which is currently the 11th largest cryptocurrency might reach the worth of $18,000 within the next five years. This steep growth roughly estimates around 18,200 per cent growth as currently Monero values at around $98.
The firm predicts this enthusiastic forecast of Monero on the backdrop penetration of more than 90 per cent crypto asset valuations getting linked to the offshore deposits market rather than decentralized applications or other exciting use cases.
Monero stands out to be one of the top gainers in the decade’s time as the digital currency is not only uncensorable but also helps users conceal transaction data.
The firm also places bitcoin in its list of top gainers in the decade’s time as it predicts the token to reach $96,000 mark in five years. With this, the most famous digital currency will not only strengthen its dominant market position but will also hit the market cap of around $1.5 trillion.
As per the report, the dominance of the bitcoin will be on the backdrop of increasing liquidity and purchasing avenues, increasing brand recognition, its position as the default base-pair within the crypto markets, declining relative volatility, relative lack of attack vectors, network capacity alleviation through the maturity of layer-2 solutions and an increasingly high attack and overthrow cost.
Apart from Bitcoin and Monero, the report of Satis predicts that ethereum, litecoin and dash might also witness appreciation against the dollar over the next decade.
Other than this, the report also predicted that Ripple which is valued at $0.33 as of now will witness a crash down of almost 97 per cent in the next five years. Other digital currencies which would see the same fate are Cardano which will go down by 99 per cent and Stellar which will witness a downfall of around 91 per cent.
Other digital currencies which will witness a downfall which won’t be so severe are Bitcoin cash and EOS.
Commenting on this controversial outlook, the report concludes: “Within the currency networks, we continue to see…the meaningful downside from networks that have inherited brand recognition and potentially short-lived adoption during hiccups from their fork-parent (such as BCH), and very little value in networks that are misleadingly marketed and not even required for use within their own network (such as XRP).”