The price of cryptocurrencies is incredibly volatile and it can be a little upsetting to look at your investments one day and realise you are down a few thousand dollars. Although you have not lost any of your virtual currency, the exchange rate has simply fluctuated, until you can use it in all everyday transactions, it will feel like a huge loss, as fiat currency is still used.
In order to predict the prices for this year, we have to look at the data from the last 12 months. We will be placing our focus on the three top cryptocurrencies, which are Bitcoin, Ethereum and Ripple, to help you to make informed decisions regarding your investments.
You can then import the data from the past 12 months into Excel, by clicking on import from website. Once you have the data, you can convert it into a graph, where you can then plot the linear trend line. This is what you will then use in order to predict the prices for the coming months.
So, bearing all of this in mind, the price is looking good for Bitcoin. Despite suffering from a hard few weeks in the crypto world, the price is just predicted to rise, and if it continues to follow the linear line as predicted, in just 12 months, the price should be back up past $20,000, with some suggesting it could hit $25,000 in early next year.
Ethereum is set to have a good year too if the price predictions are correct, and again, they are expected to rise, with suggestions that the price of Ethereum could hit above $1600 just 12 months from now. This is a huge increase from where it is today, yet experts believe that this is not unrealistic.
Ripple, whilst it is predicted to see some increase in price, it comes in peaks and troughs. Nonetheless though, in 12 months time, it is predicted that the price of Ripple will be at, or at least near $2,000.
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