New York-based research and analysis company named ‘Fundstrat Global Advisors’ has ‘revealed‘ its 2019 crypto outlook recently on 8th Feb. The analysts describe progressive enhancements that may supposedly support higher prices for crypto-currencies.
Fundstrat’s co-founder and pro-crypto Wall Street analyst named ‘Tom Lee,’ commented on the study in his ‘Twitter‘. He posted an introduction to the study and infographics that track key market tendencies from 2017 to until now.
Explaining further, Lee’s tweet stated:
“We see nine progressive enhancements within the landscape that ultimately support higher price.”
The preview of the introduction chapter provides an in-depth assessment of 2018, that, in line with Fundstrat, has brought enough of disappointment.
The analysts state that negative headwinds, like the ICOs [initial coin offering] post-hangover, adverse restrictive developments and excessive exuberance have reversed a number of crypto’s achievements, as well as the launch of the ‘Lightning Network‘ and the wallet growth. As a result, the year was alot like a “morning after sobering”, the report added.
However, in 2019, this situation can slowly start to vary. Fundstrat believes it’s still too early to speak about the mass adoption, however notes that crypto costs can possibly see an obvious recovery:
“Is 2019 the mainstream breakout year? Nope. But that’s not necessary for crypto costs to eventually bottom in 2019, and by the end of 2019, we can expect prices to be staging an obvious recovery.”
At much higher levels, the report names the expected weakening of the USD as a primary reason behind the price recovery of Bitcoin [BTC]. Fundstrat’s analysts additionally believe that rising market equities can outstrip U.S. stocks and bonds, so making a friendly ecosystem for crypto-currencies.
The outlook additionally ‘states‘ that abundant anticipated institutional investments will too increase this year due to the developments in custody solutions and OTC [over-the-counter] trading, thereby contributing to the crypto value recovery.
Moreover, Fundstrat mentions that the general interest in cryptos might be excited by Binance’s recent call to ‘support‘ credit card crypto purchases, alongside the rumours that major firms like Bitfury and Bitmain might possibly contemplate conducting IPOs [initial public offerings].
Observing the present market conditions, Bitcoin [BTC] broke the $3,600 USD price point and has managed to remain above it for 3 days in a row at the reporting time.
Even earlier in 2018, Tom Lee ‘proclaimed‘ that he will now no longer give any more ‘predictions‘ on the price of Bitcoin’s [BTC]. However, the analyst still thinks that ‘$25,000 USD‘ might be a true value for the world’s major crypto-currency, noting that the coin’s fair worth might even reach $150K.
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