December 19, 2019 6 min read

Opinions expressed by Entrepreneur contributors are their own.

Cryptocurrencies have kept a relatively low profile in 2019 following a record-breaking rise in 2017 and then a spectacular crash in 2018. Are they worth revisiting in 2020? We asked these experts and Advisors in The Oracles to share where they think crypto is headed next.

EDITOR’S NOTE: This article expresses the views and opinions of individuals and is not a substitute for professional financial advice. Do your own research and consult your own financial adviser. Any claims in this article have not been independently verified.

1. Cryptocurrency will transform banking.

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The world is getting ready for a financial and banking transformation. Engineers and product developers have been hard at work getting products together to bring Bitcoin to general use and distribution. In a year, there will be no reason to pay banks 2.5 percent to 4 percent every time you swipe your credit card. Bitcoin is a frictionless transaction. As it and other tokens like Tezos, Ethereum, and Bitcoin Cash become more prevalent, their value will increase. I predict a $250,000 Bitcoin price by 2022 or the first quarter of 2023. —Tim Draper, legendary VC, founder of Draper Associates and DFJ, and author of “How to Be the Startup Hero”

2. It’s excellent, long term.

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Whether you invest in crypto now should depend on whether you believe in the potential of blockchain technology. Yes, it didn’t live up to everyone’s expectations right away, but that’s also happened with basically every other disruptive technology. Investing in crypto now could be like picking up Amazon stock for less than IPO price, or it could be like stocking up on Betamaxes on clearance. Only time will tell.

Our developers at AE Studio work with blockchain companies like Protocol Labs, and we’re constantly impressed with the progress and innovation that’s happening in the space. Blockchain technology is evolving fast and becoming increasingly important; so I think of crypto as an excellent long-term, albeit high-risk, investment. If you think so too, my No. 1 piece of advice is to invest no more than you can afford to lose in things like BTC and ETH, which will likely positively correlate with blockchain adoption. And hodl long term! —Judd Rosenblatt, founder and CEO of AE Studio, an Agile web development and data science consulting firm with a mission to increase human agency with technology; vote for the charity they donate to next month

3. It’s the future.

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While the markets may have crashed, the growth of the infrastructure enabling cryptocurrency has never really slowed down, especially at Skrill. According to many industry experts, the space is now stable, more mature, and ready to move into its next phase. To see something that started as no more than an idea in the depths of the internet spawn a new ecosystem and grow into a multibillion-dollar asset class is nothing short of remarkable to me. The largest companies and countries in the world now discuss cryptocurrency as a viable currency of the future. I would just remind budding investors that trading in such a dynamic space means the stakes are higher. Proper research and risk management are essential. —Lorenzo Pellegrino, CEO of Skrill, NETELLER, and Income Access at Paysafe; connect with Lorenzo on LinkedIn

4. Bitcoin will beat the critics — and here’s why.

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Remember the historic economic crash 10 years ago, when many people’s life savings were wiped out? That’s when Bitcoin was born; a cryptocurrency created partly in response to the leading financial intermediaries that helped bring down the economy.

Bitcoin has become more widely adopted for several reasons. It has a predictable inflation rate because only 21 million will ever be produced. It is borderless, with transparency that no bank can match. And it is trustless because the system was designed so you don’t have to trust anyone else for it to function. It has been declared dead by journalists 378 times, including 40 times this year. But Bitcoin won’t die because it can be trusted more than most government currencies. There is no intermediary. And in a world full of failed financial intermediaries, that is a big deal. —Dan Schatt, co-founder and CEO of Cred; connect with Dan on LinkedIn

5. Cryptocurrency adoption today is where the internet used to be.

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The cryptocurrency decline was good for the market because it taught investors that not all coins are as shiny as they might seem. We always encourage making decisions based on real market value instead of speculation. How do you measure the value of a token without deep knowledge? Look for platforms that can be integrated into enterprise processes to enhance their workflows. That’s how mass adoption happens.

When the internet started, companies had to integrate the technology to deliver content for users to consume. That’s where we are now with cryptocurrency, but we’re missing platforms that companies can leverage and are capable of operating on a global scale. That’s likely why the ROI of tokens from the top 11 blockchain platforms (WAVES, EOS, NEO, ETH, LSK, ADA, MATIC, FTM, ZIL, TRX, and ALGO) averages more than 1,000 percent. —Johann Polecsak, co-founder and CTO of QAN blockchain platform; connect with Johann on LinkedIn

6. 2020 will bring a historical milestone.

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In 1997, Amazon went public at $18 per share. The stock grew to over $300 per share before plummeting to under $6 when the dot-com bubble burst in 2001. Fast forward to 2018: Amazon reached $2,050 per share and became the second U.S. company to eclipse $1 trillion in stock market value. Many investors see this pattern happening with cryptocurrency. Bitcoin skyrocketed from about $3,600 per coin to over $19,000 in 2017. Then it fell below $3,500 before climbing to $12,000 in 2019.

My advice is to keep an eye on the Bitcoin halving in 2020, which can dramatically change the cryptocurrency supply and demand equation. I believe it will be remembered as a historical milestone for Bitcoin and the entire industry. It could be the turning point that takes Bitcoin from a niche, unstable asset to a mainstream form of payment. —Alex Althausen, CEO of StormGain, a cryptocurrency trading platform; connect with Alex on LinkedIn

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