Saturday , July 24 2021

Fundstrat: the dollar will be cheaper, the basic principles of Bitcoin speak in favor of growth

The Fundstrat Global Advisors analyst presented a new announcement that, in 2019, Bitcoin is waiting for a new price increase. Ironically, its publication almost coincided with an unexpectedly strong increase in the market on Friday, February 8th.

As Thomas Lee, the company's leading analyst, wrote in his recent tweet, in 2018, he can truly be considered the year-end "cat" at historical heights in December 2017.

In particular, it notes that factors such as the decline in ICO activities are not the most favorable news from the viewpoint of industry regulation, as well as exaggerated enthusiasm for the further development of the ecosystem by investors and communities, are pushing the market.

At the same time, the development of infrastructure continued – introduction of lighting network, expansion of exchanges, the emergence of new wallets. But even these positive events in all respects could not change the situation for the better, which made expectations about cryptoans very low – if you talk about them at all.

Nevertheless, the Fundstrat analysts believe that the year 2019 should be more positive for Bitcoin.

First, they believe that the weaker US dollar and more confident market results in emerging countries will have a positive impact on the price of the first crypt. Analysts also expect an increase in activity of institutional investors in the field of cryptography, especially in sectors such as custodial products and trading across windows.

In addition, the incentive to increase consumer demand for crypts could be a recent addition to the support of Binance bank cards, the likely achievement of a critical mass in the Lightning network and the first public offering of large companies such as Bitmain and Bitfury. Another positive thing for the industry could be the decline in the volume of trading on the BitMEX derivatives market.

For all these reasons, the Fundstrat Analysts concluded:

"We have identified the main factors that can influence the crypto currency, and we see a more positive than a negative development event. In general, the overall picture for Bitcoin should be improved in 2019.

Earlier Tom said that by the end of 2018, Bitcoin would reach new heights and cost about $ 25,000. In December last year, however, he declined further forecasts of the "fair price" of crypts.

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