Fundstrat Global Advisors has published its outlook for 2019 on the cryptocurrency market. The document suggests that positive incremental developments are occurring.
Mainstream adoption for Bitcoin not required
Tom Lee, Head Analyst of Fundstrat Global Advisors, has announced the release of the company's outlook for the cryptocurrency market in 2019.
The document describes the disappointing year that digital currencies had in 2018 as well as the fact that cryptocurrency expectations are "nonexistent or very low".
In addition, it also states that 2019 is not necessarily a "mainstream breakthrough year". However, this is not necessary for cryptocurrency prices to reach "lows" in 2019. The report shows that the company will expect a visible recovery to the end without giving accurate predictions about the future value of a digital currency.
The outlook seems to contradict the position of Robert Sluymer, strategist at Fundstrat Global Advisors, who has recently noted that Bitcoin and the cryptocurrency market are generally showing signs of vulnerability.
Only one day later, contrary to Sluymers' prediction, the entire market gained over $ 10 billion, Bitcoin rose 11 percent, reaching its $ 3,700 target within hours.
Factors that support higher prices in 2019
Lee also revealed the factors for which his company came to the above conclusion.
Apparently, there are 10 factors that are supposed to help cryptocurrencies recover in price, and there is only one negative effect.
One of the factors mentioned by Fundstrat is the Lightning network, which achieves critical mass and privacy.
Bitcoinist It was recently reported that the Lightning network has already exceeded 6,000 nodes. At the present time, the network had a capacity of 655.30 BTC or about 2.38 million US dollars.
What do you think of Crypto Outlook 2019 from Fundstrat? Do you agree that prices will recover by the end of 2019? Do not hesitate to let us know in the comments below!
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The Postbitcoin recovers in 2019 without a "mainstream breakout". Says Fundstrat first appeared on Bitcoinist.com.
Post source: Bitcoin will recover in 2019 without a "mainstream breakout", says Fundstrat
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