2019 hasn't been too rosy in the cryptocurrency space, but 2020 holds a lot of promise. It's so promising in the sense that the worst coins from the current year can yield 5x, 10x, and unimaginable profits for their hodlers. It all boils down to the market sentiment about these assets as well as the projects that are backing them.
That being said, you should not be blindsided with the poor performance of these cryptocurrencies in 2019, since they could potentially be big next year. Nonetheless, make an informed decision before you invest, and with that in mind, here's a list of the worst altcoins from 2019 that look promising in 2020.
1. Ripple (XRP):
XRP has an army of loyal followers and also a significant number of displeased followers. As the third-largest cryptocurrency based on market cap, XRP is down by 43% from its price at the start of the year. This decline has occurred in the face of blockchain company Ripple's $50 million partnership with Moneygram, one of the largest money transfer companies. The $10 billion valuations of the San-Francisco-based company also failed to give XRP a major boost.
In line with that, several accusing fingers have been pointed at Ripple for dumping huge amounts of XRP in the market which has done more harm than good to the asset's value. Nonetheless, there is still a ray of hope for XRP in 2020. For starters, Ripple is engaging in talks to gain more partnerships. Brad Garlinghouse, Ripple's chief executive revealed that the company is looking to grow its customer base from 30% to 40% in 2020, and transaction volume on its network by over 600%.
2. Digibyte (DGB):
Digibyte may have shown an impressive performance at the start of the year, but the same was not the case towards the year's end. The asset which began the year at $0.010456 dumped to $0.005557 (about 46% loss) by December 2019. However, some may be quick to note that DGB is not the only asset that was affected by the downtrend.
While that may be true, it is worth noting that Digibyte's market cap dumped significantly thereby moving it from the 49th largest cryptocurrency by market cap to the 58th and 63rd in June of 2019. Its market cap today ($69 million), is almost half of what it was in January ($120 million). What's more, it was the 35th largest crypto asset in 2018. Cryptocurrency exchange Poloniex has also delisted DGB. Despite this, there is still a good chance for Digibyte to make a huge comeback next year.
3. Ethereum (ETH):
Ethereum had it tough in 2019 as well, given that it spiked and dumped significantly from time to time. That may be the least to worry about since the asset's blockchain is currently being upgraded. Vitalik Buterin, Ethereum's co-founder revealed that the ETH's blockchain is almost full, and there is a need to improve its scalability. In July 2019, the 25-year-old also proposed the temporary adoption of Bitcoin Cash's blockchain.
In terms of price movement, Ethereum is not far off its opening price of $133 in January, but it is down by 62% from its year to date high of $361. Needless to say, ETH has maintained its position as the second-largest crypto asset. Many crypto analysts have predicted that Ethereum could be alongside cryptocurrencies like Bitcoin, Litecoin, and XRP which will surge significantly soon. There's also the Ethereum Muir Glacier hard fork on January 1, 2020, to look forward to.
4. IOTA (MIOTA):
Blockchain company IOTA has made the headlines in 2019, however, the company's popularity has not affected its asset MIOTA significantly. For starters, IOTA collaborated with several reputable companies in February to launch a Smart City Hackathon. Also, IOTA recently launched a hackathon competition in a bid to create innovative solutions for the ecosystem.
Despite news of this nature, MIOTA which was the 12th largest cryptocurrency as of January this year, at the moment it’s the 23rd largest crypto asset by market capitalization. The coin is down by 54% from its price at the beginning of the year, and 66% down from its year-to-date high. There's still a lot of promise for this asset in 2020, and prediction sites like Tradingbeasts.com are already forecasting its price range to be around $0.73 to $1.03 soon.
5. Stellar (XLM):
Stellar may have struggled to maintain its position as one of the top 20 cryptocurrencies by market cap, but it is no longer among the top 10 as it used to be. The crypto asset was the 7th largest crypto asset as of January 2019. Today, it is the 12th largest crypto asset and has been overtaken by TRON, Bitcoin SV, and several others.
XLM's price movement throughout the year has also left a bitter taste in the mouth of its investors. It is 58% down from its price at the start of the year. XLM’s value can be significantly better in 2020 given the partnerships the blockchain company has in place. For example, Stellar and IBM had made plans to collaborate and create a universal payment solution, but now, there are uncertainties if the deal will hold.
These are some of the coins to keep a close eye on especially if you're looking to diversify the assets in your portfolio. These cryptocurrencies may have an unimpressive performance today, but they hold a lot of potential in the following year. It is, however, important to carry out more research about each, before making an informed decision on which to invest.