The renowned investment banking firm released its annual report on key technological trends for 2019. In their report, crypto is highlighted as one of the best performers for next year. The firm came into focus after they predicted with peculiar precision the bearish downturn of the crypto market in 2018.
Thus, GP Bullhound’s new prediction is held with serious credence. In their report, they believe that crypto will be a major determinant of what trends the markets take in 2019.
The digital currencies will perform excellently as GP Bullhound believes crypto will get institutionalized sometime in 2019. This development will, in turn, facilitate a wave of institutional capital directed towards the blockchain and cryptocurrency industry.
Also, the prediction is set on the hypothesis that 2019 will be the year when many of the existing tight cryptocurrency regulations will get abolished. The move to institutionalize cryptocurrencies will arise from the ever-growing demand for alternative currencies in the form of digital tokens. The corporate and family office side will embrace the cryptocurrencies in an attempt to build positions.
It is also crucial to note that GP Bullhound is not a “cryptocurrency perma-bull” in spite of their recent analyses and comments. But, they have a remarkable track record of forecasting price movements in the crypto markets.
Earlier in 2018, the company released the ‘Token Frenzy: The Fuel of the Blockchain’ price forecast speculation. In that prediction, they stated that the crypto prices would decline sharply.
During that time, they stated that the market would experience a 90% crash in 2018. Furthermore, in the same report, they proposed that many small players would exit the market during this downturn. The new investors would also turn to ‘panic selling’ in the year’s persistent bear market. Now it seems that GP Bullhound’s previous forecast has come to pass.
This new report declaring that 2019 will be “the year of cryptocurrency” integrates into the previous “Token Frenzy” report. Particularly, it states that after the then-projected “panic sell-off” of 2018, the market would gain considerably. However, after the ‘crypto-winter’ passes, the few survivors will enjoy unprecedented growth dynamics.