ATKearney predicts Bitcoin will regain nearly two-thirds of its market cap in 2019

24 Dec, 2018
by David Robb
ATKearney predicts Bitcoin will regain nearly two-thirds of its market cap in 2019

Leading global management consultancy firm ATKearney has released its Global Business Policy Council Research Report, with predictions for 2019. According to the report, Bitcoin (BTC) is likely to regain most of the losses it suffered this year.

As some have suggested before, ATKearney claims that the restructuring of the crypto market will see Bitcoin (BTC) recoup its lost market cap from elsewhere in the market, as many of the less significant tokens die out. Although not necessarily good for all investors, this could signal some positive times ahead for Bitcoin, which "will reclaim nearly two-thirds of the crypto market capitalization as altcoins lose their luster because of growing risk aversion among cryptocurrency investors".

Read more: Charlie Lee on future of crypto: "you are going to see some coins die"

The report also points to proper regulation as the only way forward for crypto, which is ironic as it involves "acceptance by the international financial system that Bitcoin once sought to defeat". It links the market's decline to a report from the New York Attorney General's Office, "saying that crypto exchanges were at risk of market manipulation while failing to provide basic consumer protections".

Positive future developments in the field of regulation will involve the "UK Parliament’s Treasury Committee, which...will pursue regulations intended to stifle criminal activity and reduce price volatility as it tries to make the United Kingdom a hub for cryptocurrency markets". The U.S. SEC will also play a key part in the process of legitimizing crypto, as will the recently formed Blockchain Association.

Read more: 9 Bitcoin price predictions for 2019 by crypto expertsIs crypto as independent of traditional finance as it likes to think?

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