Analyst at Saxo Bank predicts growth of cryptocurrencies

Influential investment Bank Saxo has released a 35-page tentative forecast for the second quarter of 2018. In it, a cryptanalyst Jacob Poncy (Jacob Pouncey) highlighted the risks faced by the company in the first quarter of this year in respect of digital assets. Taking into account several factors, he believes that the next three months can be a breakthrough for digital assets that could spark a bullish market.

In its forecast, Poncy said that «cryptocurrency returned to earth in the first months of this year, after a sharp rise at the end of 2017. The situation remains volatile, given the prospect of enhanced regulation and bans on advertising in social networks. However, we cannot exclude the possibility of their return.»

Poncy, also notes that «the market saw some large acquisitions kryptomere financial companies such as Goldman Sachs, which is an investor in Circle who have bought
the exchange Poloniex, as well as Monex Group, which bought
Coincheck and Yahoo Japan». In addition, the crypto currency exchange such as Coinbase, managed to recruit talent from Silicon valley and they are in key leadership positions.

Poncy, concludes: «few events can serve as springboards for the cryptocurrency bullish market in the second quarter through the fundamental driving forces […]. I think we, in the end, we will see the end of the fall of cryptocurrency».

Many Finance gurus expect easy credit market will dry up in the coming months as part of a hedge against inflation. This may mean that traditional stocks will become less attractive, and will search for the «uncorrelated assets».

This is «the assets that lie beyond the reach of traditional financial system where crypto-currencies are a potential alternative,» insists
, Poncy. «Historically, many prestigious cryptocurrency grew in conditions of global uncertainty […] and the influx of institutional capital into the cryptocurrency market due to increased regulation and investor protection can result in cryptocurrencies in a positive trend in the second quarter of this year.»

In December last year, Saxo Bank did
awesome bitcoin forecast for 2019. Then the Bank’s analysts predicted that in 2018, the expected increase in value of bitcoin to $ 60,000, after which it will fall to the fundamental «cost of production» coins $ 1,000 in 2019.

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