Research firm Fundstrat Global Advisors of new York on Friday, February 8, has published its forecast for the cryptocurrency in 2019. Analysts describe the gradual improvements that are supposed to support higher prices for cryptocurrencies.
Tom Lee, Fundstrat founder and supporter of cryptanalysts with wall Street , commented on the study in his Twitter. He published an introduction to the study and infographic, which track major market trends from 2017-present.
“9 we see gradual improvements in the landscape, which ultimately support higher prices,” — says Lee.
Preview the introductory Chapter gives a brief evaluation in 2018, which, according to Fundstrat, brought a lot of disappointments.
Analysts argue that some negative obstacles, such adverse regulatory changes, have reversed some of the achievements of the industry, including the launch of the network Lightning. As a result, the year was more like “morning after drinking”, the report said.
Forecast to 2019
However, in 2019, the situation will gradually change. Fundstrat considers that while early to speak about the massive growth, but notes that the price of cryptocurrencies will likely see a visible recovery:
“Whether the year 2019 a breakthrough? No. Prices should fall, and by the end of 2019 we expect growth.”
At the macro level, the report calls the expected weakening of the U.S. dollar as the first why recovery of price of bitcoin (BTC). Fundstrat analysts also believe that emerging market equities will outperform U.S. stocks and bonds, thereby creating a friendly environment for cryptography.
The forecast further stated that the expected institutional investment will also increase in 2019 due to changes in the decisions to store and over-the-counter trade (OTC), which will contribute to the recovery of prices in the cryptocurrency market.
In addition, Fundstrat notes that in General, the interest in crypto-currencies could be caused by a recent decision of the Binance to support the idea of cryptocurrency purchases with a credit card, along with rumors that a big company like Bitfury, may consider an initial public offering (IPO).
The release of the report coincided with the market recovery, which began on Friday, February 2. Bitcoin broke the price point of $3600 and was able to stay above it for three consecutive days.
At the end of 2018 Tom Lee announced that he will no longer make any further predictions about the price of bitcoin. However, the analyst still believes that the $25 000 is a fair price for a world currency, noting that the fair value coins can even reach $150 000.