Fundstrat Sees Higher Crypto Prices in 2019
US research firm Fundstrat Global Advisors has published a report according to which analysts expect that in 2019, gradual improvements in the cryptocurrency industry should have a positive impact on the rates of cryptocurrencies.
“We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states.
The report notes that the year 2018 has become, for the most part, disappointing. The many fraudulent ICOs, adverse regulatory actions by the industry and the emergence of an excessive number of tokens did not allow favorable changes to affect cryptocurrency prices. We are talking about the launch of the Lightning Network and the increased number of wallets. As a result, the past year became a kind of “morning after sobering up,” but in 2019 the situation should start to change little by little.
“Is 2019 the mainstream breakout year? Nope. But that is not necessary for crypto prices to eventually bottom in 2019, and by the end of 2019, we expect prices to be staging a visible recovery.”
In addition, the weakening of the US dollar should contribute to the growth of Bitcoin. Analysts expect emerging market equities to outperform US stocks and bonds, and this should create a friendly environment for cryptocurrencies. The gradual arrival of institutional clients in the industry will also have an impact. New asset storage solutions and over-the-counter trading platforms will be developed.
Note that quite recently representatives of the Fundstrat warned customers about the possible continuation of the fall of the cryptocurrency market and the achievement of record lows.
Author: Marko Vidrih