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.
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.
https://toshitimes.com/gp-bullhound-predicts-2019-will-be-year-of-crypto/
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