Bitcoin To Regain Lost Positions By End Of 2019 — Report
By the end of 2019, bitcoin will return to the market cap indicators, which were reached in late 2017. Such a conclusion was made in the analytical research of the A.T. Kearney consulting company.
The researchers determined the ten most important events that might influence the global economy in 2019. They included the forecast associated with the bitcoin capitalization in this list.
First of all, the volatile position of all other cryptocurrencies will contribute to the growing influence of bitcoin since they lose their popularity among investors, who do not want to risk their funds. One year will be enough for the bitcoin market cap to reach two-thirds of the total crypto market volume, analysts assert.
A vivid example of the instability of other cryptos is a dispute over the leading position in the Bitcoin Cash system. The situation with controversial hard forks or inconsistency in the opinion of developers regarding the further development of digital assets only increases the distance between bitcoin and the other cryptocurrencies, Courtney Rickert McCaffrey, the head of the World Business Policy Council at A.T. Kearney, stated in an interview with Forbes.
The conclusion of analysts does not mean that the cryptocurrencies will disappear, Steve Russo, vice-president of Eclypses, claims. He believes that only assets, having deep roots, a strong community behind them, and high profitability, will get through.
According to CoinMarketCap as of December 5, the bitcoin capitalization is a little over 50% of the total crypto market cap.
Earlier, a crypto enthusiast Tom Lee stated that bitcoin might cost $10 million in 10 years.