Cryptocurrency

GP Bullhound Predicts 2019 Will Be Year of Crypto, After Precisely Predicting 2018 Price Decline

GP Bullhound Predicts 2019 Will Be Year of Crypto, After Precisely Predicting 2018 Price Decline

The prominent investment banking firm GP Bullhound has recently released its annual report on important technological trends for next year. The report highlights cryptocurrencies as one of the breakthrough-trends of next year.

GP Bullhound previously accurately predicted the 2018 market downturn

However, perhaps most notably, GP Bullhound has previously been able to predict the 2018 cryptocurrency price downturn with eerie precision. This lends some serious credence to GP Bullhound’s new prediction that 2019 will be the year of cryptocurrency.

Nevertheless, first things first. GP Bullhound’s most recent ”Technology Predictions 2019” argues that cryptocurrencies will play a significant role in 2019. More specifically, this is said to stem from the fact that GP Bullhound’s suggests cryptocurrency will be institutionalized during 2019.

Moreover, this will facilitate a torrent of institutional capital that will stream into the cryptocurrency and blockchain sector. In addition to this, GP Bullhound also writes that 2019 will see most tight cryptocurrency regulations lifted, further boosting adoption.

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In fact, GP Bullhound notes that the move to institutionalize cryptocurrencies will not solely be financially motivated. Rather, this will stem from the ”increasing demand we [GP Bullhound] see on the corporate and family office side and their desire to build positions,” the investment bank stated.

GP Bullhound has previously been bearish on cryptocurrency

It is, however, important to highlight that GP Bullhound is far from a ”cryptocurrency perma-bull” despite these comments. Rather, GP Bullhound has an impressive track-record predicting cryptocurrency price movements.

Earlier this year, GP Bullhound released another forecast, dubbed ”Token Frenzy: The Fuel of the Blockchain,” where it suggested the price of cryptocurrencies would drop dramatically.

At the time, GP Bullhound suggested that the cryptocurrency market could crash by 90% during 2018. Moreover, the report also proposed that this market downturn would eliminate many of the smaller players.

Furthermore, this report suggested that the sell-off during 2018 would be characterized by ”panic selling” among new investors. Although grim, it would indeed seem that GP Bullhound’s previous prediction has now come to pass.

It might, therefore, be joyous for cryptocurrency investors to read GP Bullhound’s latest note. Moreover, the suggestion that 2019 will be ”the year of cryptocurrency” actually ties into GP Bullhound’s ”Token Frenzy” report.

Specifically, it notes that following the then-projected ”panic sell-off” during 2018, the market would improve substantially.

”Nonetheless, once this ’crypto-winter’ passes, the growth dynamics for the precious few survivors will be unprecedented,” GP Bullhound’s director Sebastian Markowsky wrote at the time.

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