The crypto-currency market will recover in the second quarter
Saxo Bank, whose specialization is online trading, posted a quarterly forecast that the Crypto-currencies could start a wave of growth again in the next 3 months. This opinion of analysts informs CoinJournal.
In December of last year a large investment bank predicted that there will be a drop in demand for digital currency, and now they think that the value of coins will grow soon.
Information provided by Quarterly Outlook Q 2, on its website, special attention is given to bitcoin and other digital currencies. Pros believe that this is a new cycle of growth of the crypto currency. There will be significant drawdowns in the market over the past 3-4 months, but it's not worth worrying about. In April, the value of bitcoin and other known altcoyins will be partially restored.
Researchers claim that the last quarter was the most horrible in the history of bitcoin. The reason is that the first crypto currency lost more than 50% of the price. The situation in the market will be very unstable due to increased control of the government of large states and blocking of digital advertising, ICO and wallets in Facebook, Twitter, Instagram and Google (it will be effective from June 2018), says Jacob Pouncey, analyst at Saxo Bank.
Jacob Pouncey also wanted to draw attention to the fact that there might be a chance of growth. After all, short-term market downturns associated with the uncertainty in the management of the market by the authorities and the sale of huge batches of bitcoins by patrons of bankrupt Mt.Gox may soon occur.
The expert said that the market will stabilize from past severe falls, but large companies have begun to buy up crypto-exchange exchanges. Monex Group acquired Coincheck, 40% of Tokyo BitARG received Yahoo Japan, and the well-known Poloniex exchange became the property of Circle.
To increase the value of the market by the second quarter, it is necessary to improve the safety of investors, and the increase in the money of institutional investors is bound to grow, Jacob thinks.
The increase in the value of the digital currency was due to the unstable geopolitical situation in the world. The main events that served this were Trump's victory in the elections, England's withdrawal from the EU and, of course, nuclear tests in North Korea.
Analyst from Saxo Bank in December 2018 predicted in its classic report a decline in interest in bitcoin. However, world strategist Kay Van Petersen made it clear in his interview with Bloomberg that the value of the crypto currency could well reach the amount of $ 100 thousand by the next year.
Pouncey thinks that uncompetitive investors will disappear from the market, and the rest will be able to count on good news. It is because of this that the value of coins will increase again and for a long time.