New York based Fundstrat Global Advisors liberated its 2019 crypto Outlook on Friday, February 8th. Analysts describe additional improvements that are expected to support higher prices for cryptocurrencies.
Tom Lee, Co-founder of Fundstrat and pro-crypto Wall Street analyst, commented on the study in his Twitter. He has published an introduction to the study and infographics that trace the main trends of the market from 2017 to now.
"We're seeing 9 incremental improvements in the landscape that will ultimately endure higher prices," says Lee's tweet.
The preview of the introductory chapter provides a brief assessment of 2018 which, according to Fundstrat, has been very disappointing.
Analysts say that headwinds, such as the initial supply of coins (ICO), unfavorable regulation and excessive exuberance have nullified some of the achievements of crypto, the start of Lightning Network and wallet growth. As a result, the year was more like a "morning after reflection," reads the report.
However, in 2019 the situation will slowly begin to change. Fundstrat thinks it's still too early to talk about mass adoption, but note that the prices of cryptocurrencies will probably see a visible recovery:
"Is 2019 the dominant year? Nope. But this is not necessary for crypto prices to reach their lowest level in 2019 and, by the end of 2019, we expect a visible recovery in prices. "
At the macro level, the report mentions the expected weakening of the United States dollar as the first reason behind Bitcoin (BTC) price recovery. Fundstrat analysts also believe that emerging market equities will outpace US equities and bonds, creating a favorable environment for cryptography.
The perspective further indicates that highly anticipated Institutional investments will also increase in 2019 due to the evolution of conservation solutions and open sales (TBT), thus contributing to the recovery of the encrypted price.
In addition, Fundstrat mentions that the general interest in crypto could be stimulated by Binance recent decision support crypto purchases of credit cards, with rumors that big companies like Bitfury and Bitmain consider making an IPO (Initial Public Offering).
Publication of the report coincided with a market recovery that started on Friday, February 8th. Bitcoin broke the $ 3,600 mark and managed to stay over for three consecutive days at the time of publication, while the other major currencies recorded double-digit gains that day.
End of 2018, Tom Lee ad that he will no longer make any predictions about the price of Bitcoin. However, the analyst always think $ 25,000 is a good price for the world's first currency, noting that the fair value of the coin could even reach $ 150,000.