BITCOIN THE BIGGEST WINNER FOR THE MONTH?
Bitcoin one the biggest winner for the month will continue to rally driven by macroeconomic factors and could reach a new all-time high before the end of 2020.
Crypto analyst and investor Lark Davis uploaded a new video with his predictions for November. Reviewing the performance of Zcash, Cardano, Bitcoin Cash, Ethereum, and Bitcoin, Davis recounted the factors that could make these cryptocurrencies’ the biggest winners of the month and even the year.
Ethereum price will increase after the official announcement of the Eth2.0 deposit contract launch.
The analyst first presented the case for Zcash. The privacy coin has been stuck in a “dumping” circle since its launch. However, in November it will have a halving that will improve its economic model by reducing Zcash’s inflation. Therefore, an increase in the price of ZEC is expected:
” This is going to be a big deal for ZCash because right now the inflation for. ZCash is like 26%, which is way above most of the other big cap. cryptocurrencies. Thus the ZCash halving will reduce this inflation down to around 13%. Still big, but way less than the current levels.”
Cardano will also be a good investment for November. Davis expects progress on the deployment of smart contracts for the platform. In addition, it anticipates the creation of about 100 decentralized applications that will drive ADA’s price and the growth of the DeFi ecosystem on Cardano.
Input Output Hong Kong (IOHK),behind the development of Cardano has established a roadmap for the deployment of smart contracts. Will be launch with Cardano’s Goguen era with other important features, IOHK considers this one of the most important milestones for the platform.