After the crypto market crash in 2018, cryptocurrency holders began to ask questions about whether the crypto market would be able to recover, what would happen to cryptocurrencies and what the future holds for the main cryptocurrency, Bitcoin. After all, due to the strong correlation of the cryptocurrency market to the price of Bitcoin, the future of altcoins directly depends on the future of Bitcoin.
Analysts at the Federal Reserve Bank of St. Louis predicted 3 scenarios for the future of the Bitcoin cryptocurrency — either Bitcoin will face mass demand in the future and rise in price thanks to its limited supply, or it will collapse, but most likely it will follow the middle path of development.
Making a forecast for Bitcoin's future, analysts David Andolfatto and Andrew Spewak noted that the negative trends surrounding Bitcoin's price are connected with the growing popularity of altcoins, which are pushing it out of users' investment portfolios and may demonstrate technological superiority.
At the same time, the analysts are confident that BTC will not drop to zero, since its fundamentals — easy accessibility and decentralization — have their own value. In addition, those who invested in the cryptocurrency during the price rise will not part with it now, and some crypto enthusiasts did not plan to do so at all — which also keeps the price from falling.
